Statistical forecasting technique
Calculating forecast attainment periodically (monthly for example) provides visibility to the overall achievement of the plan and the total business bias. The time period of shipping activity should be compared against the forecast that was set for the time period a specific number of days/months prior which is call Lag. Lag is based on the leadtime from order placement to order delivery. For example, if the lead time of an order is three months, then the forecast snapshot should be Lag 3 months.
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Usage.
Used together with forecast accuracy and forecast bias to have a complete view of the impact of forecasting errors on operations.
Example interpretations.
When used in a sales and operations planning meeting the results of forecast attainment should be reviewed and appropriate action taken:
References.
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