Demand Driven Forecasting Methods

Evaluate Forecasting methods, predictability factors, and causes of error in Forecasting
Forum Prompt:
Looking at the organization for which you work, describe how forecasting demand is facilitated and what is
being forecasted. Help us all also understand what forecasting factors (variables) affect the accuracy of
forecasting and what factors (variables) cause errors. If it helps deepen your understanding, talk to someone in
your organization who is involved in forecasting demand, requirements, or materials. Search out what improves
the accuracy of the forecasting model used and what detracts from accuracy. This week, let’s educate each
other regarding forecasting models used, causes for error, and what predictability factors re important to the
accuracy of your organization’s forecasting efforts. Dig deep and let’s help each other understand how
forecasting works in the real world.
Finally, in a short two or three sentence summary, assess the quality the forecasting models in your
organization. Also address what could be done to improve forecasting