Chapter 3 Forecasting - Demand Forecasting in Supply Chain Characteristics of Forecast Correctness(Right or Wrong Long Term Forecasts Aggregate

Chapter 3 Forecasting - Demand Forecasting in Supply Chain...

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Demand Forecasting in Supply Chain
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Characteristics of Forecast Correctness (Right or Wrong?) Long Term Forecasts Aggregate Forecasts
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Forecasting Components Past Demand. Lead Time of Product. Planned Advertising or Marketing Efforts. State of the Economy. Planned Price Discounts Competitor's Actions.
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Economic Forecasts
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Forecasting Methods Qualitative Extrinsic Intrinsic Time series / Seasonal Casual Simulation
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How To Forecast? Understand the objective of forecasting. Integrate demand planning & forecasting throughout the supply chain. Understand & Identify customer segments. Identify the major factors that influence the demand
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