Collaborative Forecasting

Collaborative forecasting is the process of setting up a continual line of communication between distributors and those customers with the ability to predict the future needs of the products they buy from the distributors. When the customer’s work schedule is d veloped, their system automatically alerts the distributors system indicating the time when they will require specific quantity of products. Any changes in the work schedule will be automatically communicated and adjusted for. Collaborative forecasting involves the sharing of real-time demand forecast data amongst the members of the supply chain.