General Mills Senior Demand Planner Interview Questions, Process, and Tips

Forecast accuracy measures how close the forecast is to actual results, while bias measures the tendency of the forecast to consistently over or under predict.

• Forecast accuracy is the measure of how close the forecasted values are to the actual values.

• Bias is the tendency of the forecast to consistently over or under predict the actual values.

• Forecast accuracy is typically measured using metrics like Mean Absolute Perc...read more

Accuracy is more important than bias in demand planning as it ensures the forecast is as close to the actual demand as possible.

• Accuracy ensures that the forecast is as close to the actual demand as possible, leading to better inventory management and customer satisfaction.

• Bias can lead to consistently overestimating or underestimating demand, resulting in excess inventory or stockouts.

• In demand planning, the focus sho...read more

Important factors in demand planning include historical data analysis, market trends, collaboration with sales and marketing teams, and accurate forecasting.

• Analyzing historical data to identify patterns and trends

• Monitoring market trends and changes in consumer behavior

• Collaborating closely with sales and marketing teams to gather insights and align strategies

• Utilizing accurate forecasting methods to predict future de...read more

I would analyze the impact of the mistake on the overall forecast accuracy and take corrective actions to adjust the forecast accordingly.

• Analyze the impact of the mistake on the forecast accuracy

• Identify the root cause of the mistake (e.g. data entry error, system glitch)

• Adjust the forecast by correcting the error and reevaluating the demand drivers

• Communicate the revised forecast to stakeholders to ensure alignment