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World Class Procurement Definitions A forum for defining key terms / definitions as it applies to World Class Procurement and Supply Chain Management

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Old 08-18-2006, 08:45 PM
bernievn's Avatar
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Default Forecast Sharing

A supply partnership between a buyer and supplier is based on mutual interdependency and respect and calls for information sharing between the involved parties. By sharing its demand forecast with the supplier, the buyer benefits in two ways:
1.) the partner becomes familiar with the buyer’s needs, and
2.) the buyer develops a dependable supply source. Forecast sharing allows the supplier to plan for and schedule production efficiently.

Source: Dobler, D.W., & Burt, D.N. (1996). Purchasing and supply management. (6th ed.). New York: McGraw Hill.
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