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Supply Chain and Logistics Management Made Easy: Methods and Applications for Planning, Operations, Integration, Control and Improvement, and Network Design
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Supply Chain and Logistics Management Made Easy: Methods and Applications for Planning, Operations, Integration, Control and Improvement, and Network Design

by Paul Myerson
April 2015
Intermediate to advanced
352 pages
7h 48m
English
Pearson
Content preview from Supply Chain and Logistics Management Made Easy: Methods and Applications for Planning, Operations, Integration, Control and Improvement, and Network Design

Chapter 3. Demand Planning: The Art and Science of Forecasting

It’s only been in the past 20 years or so that businesses have truly come to realize the importance of forecasting. If you think about it, forecasting is usually the first step in the planning and scheduling process for most goods and service organizations and forecasts for demand drive everything in an organization...from longer term decisions (3+ years out) as to new facilities and products to medium term decisions (months to years out) such as production planning and budgeting and the short term (months to a year at most) where we need to know what to produce (or purchase) and deploy (see Chart 3.1).

Chart 3.1. Typical Planning and Scheduling Process

The function itself has evolved ...

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ISBN: 9780133994261Purchase book