Business Forecasting’s Roles by Larry Lapide, Ph.D.
Business Forecasting’s roles
By larry lapide, Ph.D.
(This is an ongoing column in
The Journal, which is intended to give a brief view on a potential topic of interest to practitioners of business forecasting. Suggestions on topics that you would like to see covered should be sent via email to llapide@mit.edu) O
ne of the trends I noticed during my 30-plus years in the business world has been an evolution towards greater professionalism in the business forecasting function. What used to be a job someone took on for a short period of time is now viewed as a longterm career path. I recently heralded this fact in a column I wrote for Supply Chain
Management Review magazine (January/
February 2010) titled, “The Forecaster’s
New Role,” in which I discussed all the ways in which business forecasters should support supply chain managers. That column was written for those managers.
This column is an adapted version of it that is geared towards elaborating all the ways business forecasters might support all managers in their companies.
Business Forecasting
BacKgrounD
I have been affiliated with the Institute of
Business Forecasting & Planning (IBF)— recently appended with “& Planning” to reflect its focus on the Sales and Operations
Planning (S&OP) process—for over
12 years. I sit on its advisory board and have participated in its events, write this
JBF column, and conduct introductory tutorials. Some time back, I took note that they started a professional certification program for business forecasters and
14
began conducting the annual Executive
Forecasting & Planning Forum events for forecasting and planning management.
During the last Forum (Oct. 2009 in
Orlando), I realized that the IBF has helped to elevate business forecasting into a profession, one in which one could have a career. The event had midcareer forecasting and planning managers enthusiastically discussing their roles, especially those being
By larry lapide, Ph.D.
(This is an ongoing column in
The Journal, which is intended to give a brief view on a potential topic of interest to practitioners of business forecasting. Suggestions on topics that you would like to see covered should be sent via email to llapide@mit.edu) O
ne of the trends I noticed during my 30-plus years in the business world has been an evolution towards greater professionalism in the business forecasting function. What used to be a job someone took on for a short period of time is now viewed as a longterm career path. I recently heralded this fact in a column I wrote for Supply Chain
Management Review magazine (January/
February 2010) titled, “The Forecaster’s
New Role,” in which I discussed all the ways in which business forecasters should support supply chain managers. That column was written for those managers.
This column is an adapted version of it that is geared towards elaborating all the ways business forecasters might support all managers in their companies.
Business Forecasting
BacKgrounD
I have been affiliated with the Institute of
Business Forecasting & Planning (IBF)— recently appended with “& Planning” to reflect its focus on the Sales and Operations
Planning (S&OP) process—for over
12 years. I sit on its advisory board and have participated in its events, write this
JBF column, and conduct introductory tutorials. Some time back, I took note that they started a professional certification program for business forecasters and
14
began conducting the annual Executive
Forecasting & Planning Forum events for forecasting and planning management.
During the last Forum (Oct. 2009 in
Orlando), I realized that the IBF has helped to elevate business forecasting into a profession, one in which one could have a career. The event had midcareer forecasting and planning managers enthusiastically discussing their roles, especially those being