FINAL 2 Assignment
This question focuses on Chapter 2 in your textbook; What is Demand Driven Forecasting.
In the space below describe what are the important concepts that need to be remembered regarding the fundamentals of Demand Driven Forecasting.
Think carefully about the following as you form your answer:
Why forecasting is important to businesses?
What are some of the traditional forecasting methods employed in business and why they don’t work well?
What exactly is Supply-Driven Forecasting?
What exactly is Demand Driven Forecasting?
Explain the following formula and what does it have to do with forecasting accuracy?
Forecast = Trend t–1 + Seasonality t–1 + Cyclical t–1 + Causal Factor(s)t–1 + Unexplained Variance (p. 81)
Describe what are the important concepts that need to be remembered regarding the fundamentals of Demand Driven Forecasting.
