This time of year, many companies are working on their forecast for 2026 and beyond. If we only had a crystal ball to know what is coming in the form of supply chain disruptions, natural disasters, economic changes, regulatory changes, market trends and other events in the future. Ignoring external drivers can lead to inaccurate forecasts.

Scenario planning and assumptions testing is an important part of forecasting. Building a best-case, worst-case, and baseline scenarios will account for uncertainty and avoid overly optimistic or pessimistic forecasts.

Understanding historical data by recognizing trends, seasonality, and cyclical patterns is critical. Historical data provides context for predicting future behavior; however, high-quality and relevant data is key to a more precise forecast. Data must be:

• Accurate: Data must be free of errors or inconsistencies.
• Complete: Missing data can skew predictions.
• Relevant: Use data that directly impacts the variable being forecasted.
• Timely:Up-to-date data ensures the forecast reflects current trends.

Whether you need accurate data from your suppliers, logistics, customers or transportation companies, Innovate can help. Through our Managed Services and Trading Partner Implementation Program, we can help you implement the documents you need to provide more accurate and timely information.

Click here to learn more about Innovate’s Services or email Innovate E-Commerceinfo@innovateec.com