Report: Forecasting in Flux

June 8, 2023

Discover key insights from a recent Harvard Business Review Analytic Services report, sponsored by Flexe.

Forecasting is hard. Now, with ever evolving consumer demands and global macroeconomic uncertainty, it’s even harder.

Key Takeaways

91% of respondents indicate that demand forecasts are on average below 90% accurate
8% of respondents are very satisfied with their organization’s demand forecast accuracy
45% of respondents missed revenue opportunities due to inaccurate forecasts. Inaccurate demand forecasts also lead to decreased profitability (42%) and decreased customer satisfaction (39%)

Forecasting is hard. Now, with ever evolving consumer demands and global macroeconomic uncertainty, it’s even harder.

Since 2020, 98% of executives have faced detrimental effects due to bad forecasts. Material shortages. Missed revenue opportunities. Decreased customer satisfaction and profitability.

But there is a path forward: supply chain flexibility. Discover key insights:

The common causes of forecast challenges
The business impacts of inaccurate forecasts
Steps to meet—and overcome—these challenges
Methods to increase customer satisfaction and reduce risk through supply chain flexibility