New qualification hones forecasting skills

As global uncertainties continue to cause havoc across industries, the need exists now more than ever for credible forecasters. According to Mark Lourens, demand planning manager at UTi’s supply chain design and innovation division in Port Elizabeth, this was part of the reasoning for obtaining his Professional Forecaster certification with the Institute of Business Forecasting and Planning. One of only eight people in the country to hold this qualification, Lourens told FTW it had allowed him to improve his forecasting abilities significantly, offering a credible service within the logistics and supply chain industry. “It is a very comprehensive qualification that takes not only the process of forecasting into account but also how to present it to management and staff.” Having passed cum laude, Lourens said scientific forecasting was proving to be an asset in the industry, especially taking the unpredictable economic climate into account. “Companies are faced with challenges of reducing costs as well as having the ability and the visibility to make the right decisions,” he said. “Forecasting provides the ability to use information at hand to make informed business decisions that positively impact inventory levels while at the same time ensuring optimal availability.” Lourens said having the capability to forecast was increasingly important in the current global economy as it allowed companies a scientific approach to determining future strategy and planning.