If you can’t predict, how can you make a plan to get to where you want to be? The lack of hard or tangible goods in media, like other industries, and a ratings systems that is imperfect has created an industry [media] where forecasting is not as important as it should be.
A good forecasting process assures a company works to understand its customers and the market. Ashley’s time in manufacturing instilled a strong belief in the value of an accurate and integrated forecasting process for a company to maximize financial results and keep their customer’s happy.
Demand and inventory forecasting mean different things in media from other traditional manufacturing industries, however in media the common separation of revenue from inventory forecasting is a critical fail point in business process. In this segment, she discusses the importance of refining internal revenue and inventory forecasting for media companies, and provides her thoughts on how improve business results can and will improve with better forecasting.