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    SCM - Group 5

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    aainaa aqilah
    Demand forecasting techniques can be qualitative or quantitative. Qualitative techniques rely on opinions and intuition, while quantitative techniques use mathematical models and historical data. Time series models are commonly used quantitative techniques that analyze trends in past demand to forecast future demand. They assume future demand will be similar to past patterns after accounting for trends, cycles, seasonality, and randomness. Choosing the appropriate technique depends on available data and factors influencing demand.

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    SCM - Group 5

    Uploaded by

    aainaa aqilah
    41 views4 pages
    Demand forecasting techniques can be qualitative or quantitative. Qualitative techniques rely on opinions and intuition, while quantitative techniques use mathematical models and historical data. Time series models are commonly used quantitative techniques that analyze trends in past demand to forecast future demand. They assume future demand will be similar to past patterns after accounting for trends, cycles, seasonality, and randomness. Choosing the appropriate technique depends on available data and factors influencing demand.

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    this is assignment of supply chain management

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    SCM - GROUP 5

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    Demand forecasting techniques can be qualitative or quantitative. Qualitative techniques rely on opinions and intuition, while quantitative techniques use mathematical models and historical data. Time series models are commonly used quantitative techniques that analyze trends in past demand to forecast future demand. They assume future demand will be similar to past patterns after accounting for trends, cycles, seasonality, and randomness. Choosing the appropriate technique depends on available data and factors influencing demand.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    41 views4 pages

    SCM - Group 5

    Uploaded by

    aainaa aqilah
    Demand forecasting techniques can be qualitative or quantitative. Qualitative techniques rely on opinions and intuition, while quantitative techniques use mathematical models and historical data. Time series models are commonly used quantitative techniques that analyze trends in past demand to forecast future demand. They assume future demand will be similar to past patterns after accounting for trends, cycles, seasonality, and randomness. Choosing the appropriate technique depends on available data and factors influencing demand.

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    © All Rights Reserved
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    of 4

    DEMAND FORECASTING: FORECASTING TECHNIQUES:

    • Estimate of future • Qualitative forecasting


    demands – planning and is based on opinion and
    business decisions intuition.
    • Future are unknown – • Quantitative forecasting
    errors. uses mathematical
    models and historical data
    • Choice of appropriate
    to make forecasts.
    forecasting techniques
    – to reduce errors.
    • To consider factors that • Time series models are
    influence demand, impact the most frequently used
    of these factors, whether it among all the forecasting
    still influence future models.
    demand

    CHAPTER 5: DEMAND FORECASTING & COLLABORATION


    PLANNING, FORECASTING, REPLENISHMENT

    FORECASTING TECHNIQUES: FORECASTING TECHNIQUES:

    • Qualitative forecasting • Quantitative forecasting


    Generally used when data
    Time series forecasting- based
    are limited, unavailable, or
    on the assumption that the future
    not currently relevant.
    is an extension of the past.
    Forecast depends on skill
    Historical data is used to predict
    & experience of
    future demand.
    forecaster(s) & available
    information. Associative forecasting-
    assumes that one or more factors
    Four qualitative models used
    (independent variables) predict
    are:
    future demand.
    1. Jury of executive
    It is generally recommended to
    2. Delphi method
    use a combination of
    3. Sales force composite
    quantitative and qualitative
    4. Consumer survey techniques.
    FORECASTING TECHNIQUES (continue) FORECASTING TECHNIQUE(Continue)
    Components of Time Series- Data should Time Series Forecasting Models
    be plotted to detect for the following
    components: – Simple Moving Average
    Forecasting Model.
    – Trend variations: either Simple moving average
    increasing or decreasing forecasting method uses
    historical data to generate a
    – Cyclical variations: wave-
    forecast. Works well when
    like movements that are
    demand is fairly stable over
    longer than a year
    time.
    – Seasonal variations: show
    peaks and valleys that
    repeat over a consistent
    interval such as hours, days,
    weeks, months, years, or
    seasons
    – Random variations: due to
    unexpected or unpredictable
    events

    CHAPTER 5: DEMAND FORECASTING & COLLABORATION


    PLANNING, FORECASTING, REPLENISHMENT

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