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Supply Chain Risk Management and Forecasting

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Forecasting is becoming ever more important. I was VP of sales for an outdoors company. One of the things that we tried to really hone in on in our supply chain was to take cost out of the system. The major retailers were basically delaying their purchase orders. This puts a company like Eastman in a crunch. Eastman is a seasonal sporting goods manufacturer and importer. If you miss your season, you don’t make that business up. Therefore, forecasting is extremely important when you are a smaller company and you don’t have a purchase order to start production. It can really put you in a bind if some of your major customers, which comprise 30% to 40% of your business, place late orders.

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