Lots of organizations really struggle with projecting returns. Big time. They often say the only data they have is the number of things sold in a month, versus the number of products returned. Really? So you have no idea which customer is returning the product? No idea when that customer purchased that product ... even just to confirm it was returned in the warranty period? Most organizations actually have the data ... it's all about sharing it. The post SOR 949 Forecasting Returns appeared first on Accendo Reliability.
Lots of organizations really struggle with projecting returns. Big time. They often say the only data they have is the number of things sold in a month, versus the number of products returned. Really? So you have no idea which customer is returning the product? No idea when that customer purchased that product ... even just to confirm it was returned in the warranty period? Most organizations actually have the data ... it's all about sharing it.
Chris and Fred discuss how you go about forecasting returns … and understanding things like warranty reliability for products that are ‘shipped all over the place? … at different times? Sound familiar?
Join Chris and Fred as they respond to a question from one of our listeners where he was struggling to understand how to forecast returns based on really simple data … essentially the number of things sold in a given month versus the number of returns for the same month. It was proposed that we simply use the exponential distribution, find the lambda and so on … but this really won’t work.
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Enjoy an episode of Speaking of Reliability. Where you can join friends as they discuss reliability topics. Join us as we discuss topics ranging from design for reliability techniques to field data analysis approaches.
The post SOR 949 Forecasting Returns appeared first on Accendo Reliability.