Types of Demand Forecast
Types of Demand Forecast
Demand Forecasting involves employing predictive analysis of past data to anticipate and project customers’ future demand for products or services. This process aids firms in enhancing supply-related decisions by projecting total sales and revenue for upcoming periods, typically by examining historical data. By utilizing demand forecasting, firms can optimize their inventory management and make informed choices regarding inventory planning, production, pricing, and other operational aspects, all guided by the anticipated future demand patterns.
Geeky Takeaways:
- Demand Forecasting involves predictive analysis of past data to anticipate and project future customer demand.
- This forecasting will help businesses make informed supply-related decisions.
- Demand Forecasting includes active demand forecasting, external macro forecasting, passive demand forecasting, the Delphi method, market research, econometrics, sales, internal demand forecasting, trend projection, expert opinion, micro-level forecasting, barometric forecasting, and sales channel forecasting.
- Other types of demand forecasting include historical data analysis, seasonality analysis, statistical analysis, and macro-level forecasting, among others.
Table of Content
- Types of Demand Forecast
- 1. Active Demand Forecasting
- 2. External Macro Forecasting
- 3. Passive Demand Forecasting
- 4. Delphi Method
- 5. Market Research
- 6. Econometrics
- 7. Sales
- 8. Internal Demand Forecasting
- 9. Trend Projection
- 10. Expert Opinion
- 11. Micro Level Forecasting