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Operations Management: Processes and Supply Chains, 12th Edition by Larry P. Ritzman, Manoj K. Malhotra, Lee J. Krajewski

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Insights into Effective Demand Forecasting

Often companies must prepare forecasts for hundreds or even thousands of services or products repeatedly. For example, a large network of health care facilities must calculate demand forecasts for each of its services for every department. This undertaking involves voluminous data that must be manipulated frequently. However, software can ease the burden of making these forecasts and coordinating the forecasts between customers and suppliers. Many forecasting software packages are available, including Manugistics, Forecast Pro, and SAS. The forecasting routines in OM Explorer and POM for Windows give some hint of their capabilities. In the hope of garnering improved insights into the demands for their ...

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