Aug 31, 2021
I have had a number of calls this past week with various media outlets, including the Associated Press, WRAL, Forbes, and even the New York Times! All of these reporters…
Apr 27, 2012
In forecasting for demand there are two predominant methods of modeling available: deterministic and probabilistic. Normally just saying the names of these techniques is enough to turn someone off from…
Apr 26, 2012
This paper will highlight some of the numerical modeling techniques used in weather forecasting that can be applied to improve business forecasting. Demand and weather forecasting are comparable in so…
Jan 26, 2011
References Most introductory textbooks in Operations and Supply Chain Management offer a good discussion of forecasting models. Techniques such as time series models, regression, and measures of forecasting accuracy are…
Summary Forecasting is a critical part of CPFR. Fortunately, there are a number of well-developed tools and strategies for developing forecasts. Avoid forecasting values when you can calculate them. For…
Q2 Forecasting What Is Q2 Forecasting? Quantitative-Qualitative Forecasting Basic ideas behind Q2 forecasting: Wherever possible, forecasters should first develop a quantitative forecast, then use this for the basis for more…
3 – Step Process STEP 1: Divide Items into Three Major Categories STEP 2: Apply the simplest tools needed to do the job STEP 3: Spend effort on the “difficult…
Jan 25, 2011
Qualitative Methods Common Qualitative Forecasting Methods EXAMPLE: Life Cycle analogy Analyzing the Life Cycle Data for the Previous Version Questions to Consider When Using the Life Cycle Analogy to Forecast…
Multiple Regression Advanced techniques can be used when there is trend or seasonality, or when other factors (such as price discounts) must be considered. What is Multiple Regression? Resulting Forecast…
Measuring Forecast Accuracy How Do We Measure Forecast Accuracy? Measures of Forecast Accuracy Mean Forecast Error (MFE) Mean Absolute Deviation (MAD) Tracking Signal Other Measures How Do We Measure Forecast…
