Chapter 4 Part 1

Chapter 4 Part 1 - Demand Forecasting and Collaborative...

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1 1 Demand Forecasting and Collaborative Planning, Forecasting, and Replenishment Chapter 4 (Part 1) 2 Chapter 4 Learning Objectives Explain the role of demand forecasting in a supply chain. Identify the components of a forecast. Compare and contrast qualitative and quantitative forecasting techniques. Assess the accuracy of forecasts. Explain collaborative planning, forecasting, and replenishment. 3 Classification of Forecasting Methods Forecast Qualitative Quantitative Judgmental Market Research Time Series Causal 4 Qualitative Methods Involve greater subjectivity • Used when historical data are lacking Judgmental methods – based on experience and informed opinion jury of executive opinion sales force estimation Delphi Market research methods – based on systematic data collection and statistical analysis focus groups consumer surveys
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2 5 Classification of Forecasting Methods Forecast Qualitative Quantitative Judgmental Market Research Time Series Causal 6 Quantitative Methods Based on mathematical techniques Require historical data More objective approach Time series methods – forecasts are based solely on past (historical) demand
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This note was uploaded on 04/11/2011 for the course WCOB 2023 taught by Professor Billthompson during the Spring '07 term at Arkansas.

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Chapter 4 Part 1 - Demand Forecasting and Collaborative...

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