Sustainability in Supply Chain Management (Collection)

18. A Technical Explanation of Forecasting Systems

This section represents the forecast systems used in the corporate environment to add greater productivity to the corporation. Forecasting is very important in the new collaborative era. As companies are becoming increasingly interconnected, it is more important to fine-tune the forecast. The more accurate the system is, the less variance there is in creating in the entire supply chain. Because of connectivity and real-time information, decreased accuracy in-house decreases the accuracy of the collaborative partners as well. This creates a cascading effect all the way down the supply chain. This is why there is a lot of time spent on the forecasting methodologies. For example, in Six Sigma and ...