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The guarantee was an explicit one – with no wiggle room. Clients would measurably improve their business performance — in our instance, a 25 percent minimum reduction in absolute forecast error — or we wouldn’t get paid. Not a dime.

It could have been a disaster, but taking this leap of faith actually did incredible things for our organizational focus – and ultimately helped cement our culture and internally align all divisions of the company.

Gene Tanski, CEO of demand planning and forecasting software maker Demand Foresight, discusses low forecast accuracy expectations and the profit they could be costing your company.

Gene Tanski of Demand Foresight discusses how the one-vendor ERP strategy adopted by many IT departments isn’t a business strategy at all — and actually sets a company up for poorer business performance.