Transcription of Forecasting Methods - UCLouvain
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Forecasting Methods - UCLouvain
Prod 2100-2110 Forecasting Methods 0 Forecasting Methods What is Forecasting ? Why is Forecasting important ? How can we evaluate a future demand ? How do we make mistakes ? Prod 2100-2110 Forecasting Methods 1 Contents 1. FRAMEWORK OF PLANNING DECISIONS .. 2 2. Forecasting .. 3 3 TYPE OF FORECASTS: .. 4 3. TIME SERIES Methods .. 5 5 7 4 STATIONARY TIME SERIES .. 8 MOVING AVERAGE:.. 8 WEIGHTED AVERAGE: .. 9 EXP. SMOOTHING: .. 9 COMPARISON BETWEEN MA AND ES .. 10 5 TREND-BASED TIME SERIES.
Prod 2100-2110 Forecasting Methods 2 1. Framework of planning decisions Let us first remember where the inventory control decisions may take place.
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