Forecasting new products is a challenge-with little or no historical data, the trusted methods that work well for existing products often produce inaccurate forecasts for new products.
In an educational one-hour live Webinar, Eric Stellwagen, Vice President of Business Forecast Systems, will survey various pragmatic approaches for forecasting new products more accurately. Explaining that the type of new product being offered will dictate which methods to consider, he will review the main classifications for new products:
- Replacement products
- Product line extensions
- New-to-company products
- New-to-world products
You will learn about the pros and cons of the different approaches available for forecasting products in each category. Using real-world examples, Eric will demonstrate some of the more popular methods including item supersession, forecasting by analogy, and the Bass diffusion model.