By Topic

Why bad forecasts can be good for business...[demand forecasting]

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$33 $33
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

1 Author(s)
A. Ross ; Supply Chain Anal. Ltd., UK

In order for companies to be more responsive to actual customer demand, some degree of forecasting is necessary. In a study on supply chain improvement, the results indicate the importance of demand forecasting. The study show that manufacturers need to create a model of the near future, their demand forecast, to enable them to best configure their supply chain's resources. Forecasting is as important as ever, even as companies seek to become as responsive as possible. New software tools help companies make forecasting less of a black art and more of a scientific process. However, it is key that judgement is used to assess what the software proposes and collaboration, also enabled through software and the Internet, helps involve all key stakeholders to create a robust forecast that the business can work to.

Published in:

Manufacturing Engineer  (Volume:83 ,  Issue: 3 )