What is collaborative forecasting?

[niyati]

Can someone explain collaborative forecasting

 

[riya]

Collaborative forecasting is a demand‐planning approach where internal teams (e.g., sales, marketing, operations) and external partners (suppliers, customers) jointly share data and insights to produce a single, more accurate projection of future demand.

 

[robertwilliam]

Collaborative forecasting is a demand planning method that brings together multiple business functions or partners (like suppliers, retailers, and even customers) to create a shared forecast. This approach combines historical data with expert insights from various stakeholders to produce a more accurate and actionable demand plan. By breaking down information silos, it ensures everyone is aligned on future demand, leading to better coordination and improved decision-making.

 

[maria]

Collaborative forecasting is a process where multiple stakeholders in a supply chain, or even within a single company, share information and work together to create a unified forecast of future demand. This approach aims to improve forecast accuracy, enhance coordination, and optimize resource allocation by leveraging collective knowledge and insights.