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Demand Forecasting Overview

Yapay zekadan makale özeti

Definition and Types: Demand forecasting predicts future consumer and business product quantities
Methods include qualitative (expert opinion) and quantitative (data analysis) approaches
Used for resource allocation, inventory management, and market decisions
Business Benefits: Helps mitigate business risks and meet long-term goals
Enables strategic business decisions and growth planning
Improves financial planning and reduces operational costs
Ensures adequate human capital management
Forecasting Process: Begins with theory statement and hypothesis development
Involves model specification and data collection
Requires parameter estimation and model accuracy checking
Uses various statistical and econometric analyses
Accuracy Measurement: MAPE (Mean Absolute Percent Error) commonly used for supply chain forecasts
SPEC (Stock-keeping-oriented Prediction Error Costs) considers temporal shifts
Different metrics needed for seasonal and intermittent demand patterns