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Statistic Forecast & Demand Planning

The document discusses why statistical forecasting and demand planning are important objectives for industries. Statistical forecasting uses past time series and present data to predict future trends and provides a baseline supply chain forecast. Demand planning also uses statistical forecasting and historical data to accurately predict customer demand, allowing companies to efficiently meet demand, reduce costs, improve customer service and assess business objectives. Both statistical forecasting and demand planning are critical for supply chain management and business planning.

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Sivmey Chhil
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40 views1 page

Statistic Forecast & Demand Planning

The document discusses why statistical forecasting and demand planning are important objectives for industries. Statistical forecasting uses past time series and present data to predict future trends and provides a baseline supply chain forecast. Demand planning also uses statistical forecasting and historical data to accurately predict customer demand, allowing companies to efficiently meet demand, reduce costs, improve customer service and assess business objectives. Both statistical forecasting and demand planning are critical for supply chain management and business planning.

Uploaded by

Sivmey Chhil
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Why the statistic forecast & demand plan is the main objective for the industry?

1. The statistic forecast is the main objective for industry:

 Statistic + forecast: Statistic is the methods employing time series and Forecast is the process of
making predictions of the future based on past and present data.
 Is the best solution to provide the baseline forecast for the supply chain
 There’re models to forecast, chance to choose the best models one to practice in real life
 More accurately, and common used by everyone.

2.
 The demand planning: is the process of forecasting the demand for the goods and service
produced and delivered more efficiently and more satisfy the customers.

 The demand planning: uses statistical forecast with the past sale number, historical, current data to
forecast the future customers demand. A good forecast is done by looking for the company or the
organization: the current situation, past history data by paying the realistic and honest of the data
and also involve with the customer interests too.

 Demand planning is main objective for industry:

 Allow company to be accurately through supply chain


 Meet an efficient financial decision
 Meet demand at the right time of customers (Better customer services)
 We can know how much we can produce in the future, where we produce, and the budget to
produce.
 Reduce risk & Reduce inventory cost
 The objective to assess the business
 A good statistical engine, report & supportive data.
 The supply forecast follows it

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