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We all know the numbers: 75%-90% of all new items fail to meet demand expectations. The majority of these items are actively discontinued within 18 months, leaving trails of inefficiencies and excess costs in their wakes. Successful launches often come as much needed surprises, but reactive demand signals may not provide the lead-time needed to keep our new superstar products in-stock.
The amount of reliable downstream data has improved over the last 10 years, and yet, new item forecast metrics remain relatively unchanged. If we are not getting to better answers, perhaps we need to start asking better questions. In this session, we will review an approach that will shift your focus and perhaps increase the success of your new item planning results. Furthermore, this session is geared towards FP&A, Sales, Marketing, as well as Supply Chain, Demand Planning and Forecasting professionals. Bring your colleagues and join us for a lively discussion at Bayer’s office.
John Gallucci will be presenting on the topic of new product forecasting and planning at IBF's Business Planning, Forecasting & S&OP Conference in Orlando, from October 20-23.