Forecast Accuracy definition

Forecast Accuracy means the accuracy of the “Lag 2 Week” included in Bottler’s Rolling Forecast for each Distribution Center, which is the forecasted volume to be purchased from CCR for the second week of each such Rolling Forecast, and is measured as 1 minus the Mean Absolute Percent Error (MAPE) over the 1 week period measured. “MAPE” is defined as the sum across all SKUs of the absolute value of the difference between the SKU-level Lag-2 Week of the Rolling Forecast provided to CCR and the actual SKU-level trade sales of Product sold by Bottler in the Territory for such Lag-2 Week, divided by the actual SKU-level trade sales of Product sold by Bottler in the Territory for such Lag-2 Week. Bottler will not be responsible for forecast errors to the extent attributable to Product not delivered by CCR (i.e., the calculation will be adjusted to take into account Product not delivered by CCR to a particular Distribution Center for the Lag-2 Week period in question).
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Forecast Accuracy means the accuracy of the “Lag 2 Week” included in Purchaser’s Rolling Forecast for each Purchaser Distribution Center or Regional Manufacturing Facility, which is the forecasted volume to be purchased from Supplier for the second week of each such Rolling Forecast, and is measured as 1 minus the Mean Absolute Percent Error (MAPE) over the 1 week period measured. “MAPE” is defined as the sum across all SKUs of the absolute value of the difference between the SKU-level Lag-2 Week of the Rolling Forecast provided to Supplier and the actual SKU-level trade sales of Product sold by Purchaser in the Territory for such Lag-2 Week, divided by the actual SKU-level trade sales of Product sold by Purchaser in the Territory for such Lag-2 Week. Purchaser will not be responsible for forecast errors to the extent attributable to Product not delivered by Supplier (i.e., the calculation will be adjusted to take into account Product not delivered by Supplier to a particular Distribution Center or Regional Manufacturing Facility for the Lag-2 Week period in question).
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Forecast Accuracy shall be a percentage calculated for a particular calendar period as follows: one hundred percent (100%) minus a percent equal to the absolute value of ((the number of cases of Products actually ordered during the period minus the number of cases of Products forecasted to be ordered for the period) divided by the number of cases of Products actually ordered during the period). As an illustration of the above, if 100 cases were forecasted to be ordered during the period and only 80 were actually ordered during the period the Forecast Accuracy is: 100% - (80 - 100)/80 = 75%
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Examples of Forecast Accuracy in a sentence

  • Once a CCR-Generated Forecast is validated, or adjusted and submitted to CCR, or if Bottler fails to validate or adjust and submit such forecast within the time periods set forth in this paragraph, such CCR-Generated Forecast will be deemed to be the Rolling Forecast under this Section 6 and will be the forecast on which Bottler Forecast Accuracy is calculated under Section 11.

  • If the Rolling Forecast is not received by CCR by such time, then the last forecast provided by Bottler will apply, Bottler will not have the right to adjust or validate such forecast, and such forecast will be deemed the Rolling Forecast under this Section 6 and will be the forecast on which Bottler Forecast Accuracy is calculated under Section 11.

  • Demand Forecast Accuracy Performance by Service Source: Rigoni& Souza (2016) 15Figure 5.

  • Forecast Accuracy for Selected U.S. Economy Variables Forecasting the future of the economy is difficult, not only because of the issues discussed above, but also because of noneconomic shocks, i.e., unpredictable events such as the September 11, 2001, attacks on the World Trade Center or Superstorm Sandy, which made landfall on October 29, 2012, or the onset of the COVID-19 pandemic.

  • This will highlight any need for improvement of data, assumption, or methodologies, which will be outlined in a forecast improvement plan, as explained further in Section 4.2.AEMO will develop and consult on a Forecast Accuracy Methodology Paper during 2020 to supplement the methodology papers listed in Figure 3.

  • If the Parties agree to a Rolling Forecast as part of Section 6(a), then Forecast Accuracy will be measured.

  • Forecast Accuracy (Bias) of IPO SampleSample N Average Forecast Accuracy (Bias) All forecasters960.4905 (0.2665)Optimistic forecasters630.5406 (0.5406)Conservative forecasters330.3919 (-0.3919) Table 2 above shows that 64 forecasters are optimistic (forecasters whose earnings forecasters cannot be achieved at the end of IPO year with average forecast upward bias 54.06%.

  • Forecast Accuracy for NYS Employment and Wages The main data source available for the NYS model is the QCEW data obtained from the NYS Department of Labor (DOL).

  • Each of the forecasts set out below is based on publicly-available data and is subject to GIG’s assessment of Green Impact Forecast Accuracy (as set out on page 4).

  • Figure 2 Risk Level of Forecast Accuracy Required Level of Investment Risk Product Productdevelopment Time launch When producing strategic forecasts, understanding the level of uncertainty is critical.


More Definitions of Forecast Accuracy

Forecast Accuracy means the accuracy of the “Lag 2 Week” included in CCR’s Rolling Replenishment Forecast for each Distribution Center, which is the forecasted volume to be purchased from Bottler for the second week of each such Rolling Replenishment Forecast, and is measured as 1 minus the Mean Absolute Percent Error (MAPE) over the 1 week period measured. “MAPE” is defined as the sum across all SKUs of the absolute value of the difference between the SKU-level Lag-2 Week of the Rolling Replenishment Forecast provided to Bottler and the actual SKU-level shipments of Product shipped to CCR for such Lag-2 Week, divided by the actual SKU-level shipments of Product shipped to CCR for such Lag-2 Week. CCR will not be responsible for forecast errors to the extent attributable to Product not delivered by Bottler (i.e., the calculation will be adjusted to take into account Product not delivered by Bottler to a particular Distribution Center for the Lag-2 Week period in question). CCR will use commercially reasonable efforts to (a) meet the “Forecast Accuracy Performance Target” set forth in the Service Level Agreement, and (b) track, measure, and report to Bottler Forecast Accuracy weekly by Lag 2 Week.
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Forecast Accuracy means the accuracy of the “Lag 2 Week” included in Purchaser’s Rolling Forecast for each Purchaser Distribution Center, which is the forecasted volume to be purchased from Supplier for the second week of each such Rolling Forecast, and is measured as 1 minus the Mean Absolute Percent Error (MAPE) over the 1 week period measured. “MAPE” is defined as the sum across all SKUs of the absolute value of the difference between the SKU-level Lag-2 Week of the Rolling Forecast provided to Supplier and the actual SKU-level trade sales of Product sold by Purchaser in the Territory for such Lag-2 Week, divided by the actual SKU-level trade sales of Product sold by Purchaser in the Territory for such Lag-2 Week. Purchaser will not be responsible for forecast errors to the extent attributable to Product not delivered by Supplier (i.e., the calculation will be adjusted to take into account Product not delivered by Supplier to a particular Distribution Center for the Lag-2 Week period in question).
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Related to Forecast Accuracy

  • Forecasts means the quantity of Items or Services that Buyer reasonably anticipates it may purchase during a specified time.

  • Forecast means the hourly forecast of (a) the total electric energy production of the Generating Facility (in MWh) when the Generating Facility is not PIRP-eligible or Buyer is not Scheduling Coordinator net of the Site Host Load and Station Use, or (b) the available total generation capacity of the Generating Facility (in MW) when the Generating Facility is PIRP-eligible and Buyer is Scheduling Coordinator net of the Site Host Load and Station Use.

  • Forecast GDP means the average forecast for British Columbia’s real GDP growth made by the Economic Forecast Council and as reported in the annual February budget of the government;

  • Financial Monitoring Report or “FMR” means each report prepared in accordance with Section 4.02 of this Agreement;

  • Company Financial Information As defined in Section 2(a)(ii).

  • Projections as defined in Section 6.2(c).

  • Purchaser Financial Statements shall have the meaning specified in Section 4.8.1.

  • Closing Financial Statements has the meaning set forth in Section 6.22.

  • Monthly Financial Statements is defined in Section 6.2(c).

  • Information Package means the most recent compilation of financial and other data with respect to the Failed Bank, including any amendments or supplements thereto, provided to the Assuming Institution by the Corporation on the web site used by the Corporation to market the Failed Bank to potential acquirers.

  • Rolling Forecast has the meaning set forth in Section 4.2.

  • Pick Up Report means the report detailing the number of sleeping rooms per day actually used out of the Program’s room block.

  • Financial Information has the meaning set forth in Section 4.6.

  • Estimates means annual estimates or supplementary estimates;

  • MI Report means a report containing Management Information submitted to the Authority in accordance with Framework Schedule 8 (Management Information);

  • Pro Forma Financial Statements shall have the meaning set forth in Section 5.5(b) hereof.

  • Disclosure Materials has the meaning set forth in Section 3.1(h).

  • Seller Financial Statements has the meaning set forth in Section 3.5(a).

  • Required Financial Information means, with respect to each fiscal period or quarter of the Borrower, (a) the financial statements required to be delivered pursuant to Section 6.01(a) or (b) for such fiscal period or quarter of the Parent REIT, and (b) the Compliance Certificate required by Section 6.02

  • forecast prices and costs means future prices and costs that are:

  • Quarterly Financial Statements is defined in Section 6.2(a).

  • Buyer Financial Statements shall have the meaning set forth in Section 4.6.

  • Forward-Looking Information means disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action and includes future-oriented financial information with respect to prospective financial performance, financial position or cash flows that is presented as a forecast or a projection;

  • Cash Flow Forecast means a 13-week cash flow forecast for the then applicable period, which shall include, among other things, anticipated cash collections and receipts and anticipated disbursements for each calendar week covered thereby.

  • Statutory Financial Statements means, with respect to any Party, the annual and quarterly statutory financial statements of such Party filed with the Governmental Body charged with supervision of insurance companies in the jurisdiction of domicile of such Party to the extent such Party is required by Applicable Law to prepare and file such financial statements.

  • Required Financial Statements has the meaning assigned to such term in Section 5.04(2).