Publication

Strategic Analysis of Products Related to the Integration of Human Judgement into Demand Forecasting

Rémy Glardon
2005
Book Chapters

Abstract

For companies proposing a large offer of products and services, it is important to identify the products for which the forecast quality is critical. The objective of this paper is to propose a strategic analysis of the products in order to determine priorities in the demand forecasting process: (1) a high priority class including the products for which forecast accuracy has a strong impact on the logistic performance of the company and where judgement should be integrated in the forecasting process; (2) a low priority class with the remaining products for which forecast accuracy is less important and where forecasts could be established in an automated way. The classification process takes into account different criteria chosen on the basis of cost efficiency reasoning.

Official source

https://infoscience.epfl.ch/entities/publication/23e01cdd-4856-4a20-bd03-48b3ee6019db

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Rémy Glardon
2005
Book Chapters

Abstract

Official source

https://infoscience.epfl.ch/entities/publication/23e01cdd-4856-4a20-bd03-48b3ee6019db

About this result

Related concepts (24)

Forecasting

Forecasting is the process of making predictions based on past and present data. Later these can be compared (resolved) against what happens. For example, a company might estimate their revenue in the next year, then compare it against the actual results creating a variance actual analysis. Prediction is a similar but more general term. Forecasting might refer to specific formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods or the process of prediction and resolution itself.

Economic forecasting

Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation—for example for GDP, inflation, unemployment or the fiscal deficit—or at a more disaggregated level, for specific sectors of the economy or even specific firms. Economic forecasting is a measure to find out the future prosperity of a pattern of investment and is the key activity in economic analysis.

Weather forecasting

Weather forecasting is the application of science and technology to predict the conditions of the atmosphere for a given location and time. People have attempted to predict the weather informally for millennia and formally since the 19th century. Weather forecasts are made by collecting quantitative data about the current state of the atmosphere, land, and ocean and using meteorology to project how the atmosphere will change at a given place.

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Strategic Analysis of Products Related to the Integration of Human Judgement into Demand Forecasting

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