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    Forecastingg

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    Forecastingg

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    INFERNUM GAMING
    .

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    © All Rights Reserved
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    of 31

    WEEK 5

    Demand Forecasting in Supply Chains


    Question

    Compare economic, technological and demand forecasts.


    Characteristics of forecasts

    Forecasts are always wrong and should thus include both the expected value of the forecast and a
    measure of forecast error.

    Long-term forecasts are usually less accurate than short-term forecasts.


    Aggregate forecasts are usually more accurate than disaggregate forecasts, as the tend to
    have a smaller standard derivation of error relative to the mean

    In general, the farther up the supply chain a company is (or the farther it is from the
    consumer), the greater is the distortion of information it receives.
    Question

    Describe the characteristics of forecasting


    Question

    Read the Case Study mentioned in the Online class and answer the questions given .
    Question

    Describe the qualitative methods of forecasting


    Question

    Describe the quantitative methods of forecasting

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