Which according to you is important among the both accuracy or bias if you have to select in them

Question

Accepted Answer

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 should be on improving accuracy through data analysis, forecasting techniques, and continuous monitoring and adjustment.
For example, a senior demand planner should prioritize accuracy by using historical data, market trends, and collaboration with sales and marketing teams to create a more reliable forecast.

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