Q2 Forecasting: Approaches to Forecasting : A Tutorial
Published on: Jan, 26, 2011
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 qualitative analysis.
- Historical data is never a perfect indicator of what will happen in the future, but this doesn’t excuse us from considering it!
- By following the Q2 principle, forecasters can:
- Keep their intuition grounded in the data.
- Expose the assumptions behind qualitative forecasts (ex. – “Why do we expect demand to be three times higher than last year?”).
Read the Supply Chain Management Professional Newsletter
Read the latest supply chain research, articles, and news as soon as we post them.