Transcription of Ch.3 Demand Forecasting. - IEMS
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Ch.3 Demand Forecasting. - IEMS
Part 3 : Acquisition & Production Support. Demand forecasting . Edited by Dr. Seung Hyun Lee ( , CPL). IEMS Research Center, E-mail : Demand forecasting . [Other Resource]. Definition. An estimate of future Demand . A forecast can be determined by mathematical means using historical, it can be created subjectively by using estimates from informal sources, or it can represent a combination of both techniques. - 2 - Demand forecasting . [Other Resource]. Why Forecast ? To plan for the future by reducing uncertainty. To anticipate and manage change. To increase communication and integration of planning teams. To anticipate inventory and capacity demands and manage lead times. To project costs of operations into budgeting processes. To improve competitiveness and productivity through decreased costs and improved delivery and responsiveness to customer needs.
- 3 - Demand Forecasting. [Other Resource] Why Forecast ? ․ To plan for the future by reducing uncertainty. ․ To anticipate and manage change. ․ To increase communication and …
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