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Forecast Accuracy

Purpose -

Measures how close the forecasted demand is to actual demand

Operational Definition -

(1− (Actual Demand−Forecasted Demand)/Actual Demand)*100

Type of Metrics -

Business Outcome

Function -

Planning - Demand

Associate Function -

Planning - Demand

Desired Trend -

Higher the better

Recommended Frequency - 

Monthly

External References -

https://www.netsuite.com/portal/resource/articles/accounting/demand-planning-kpis-metrics.shtml

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