DEMAND MANAGEMENT PPT
DEMAND
MANAGEMENT
AND FORECASTING
Reported By:
Mary Ann P. del Rosario
DEMAND MANAGEMENT
MACROECONOMICS use of monetary and fiscal policies to influence the aggregate demand for goods or services in an economy. MICROECONOMICS activities in support of a firm’s products in their marketplace, such as stimulating the demand, estimating its volume, and planning the production accordingly. DEMAND MANAGEMENT
is a planning methodology used to management and forecast the demand of products and services.
is to coordinate and control all sources of demand so the productive system can be used efficiently and the product delivered on time. FORECASTING
is the process of making statements about events whose actual outcomes have not yet been observed. A commonplace might be estimation of some variable interest at some specified future date. a scientific way to predict a future event. Starting with certain assumptions based on the management’s experience, knowledge, and judgment. It is a planning tool which helps management in its attempts to cope with the uncertainty of the future.
FORECASTING CATEGORIES
Quantitative Method- is an interrupted set of data observations that have been ordered in equally spaced intervals (units of time). Used to forecast future data as a function of past data; they are appropriate when past data are available.
Qualitative Method- are subjective, based on the opinion and judgment of consumers, experts; they are appropriate when past data are not available.
THREE CLASSES OF FORECASTING
METHOD
Extrapolation –also called time- series methods. A set of data collected at regular intervals. Causal- attempts to find a relationship between the variable to be forecast and one or more other variables.
Judgmental- incorporate intuitive judgments, opinions and subjective probability estimates.
TYPES OF QUALITATIVE FORECASTING METHODS
Executive Opinions
Delphi Method
Sales Force Polling
Consumer Surveys
SIMPLE MOVING
MANAGEMENT
AND FORECASTING
Reported By:
Mary Ann P. del Rosario
DEMAND MANAGEMENT
MACROECONOMICS use of monetary and fiscal policies to influence the aggregate demand for goods or services in an economy. MICROECONOMICS activities in support of a firm’s products in their marketplace, such as stimulating the demand, estimating its volume, and planning the production accordingly. DEMAND MANAGEMENT
is a planning methodology used to management and forecast the demand of products and services.
is to coordinate and control all sources of demand so the productive system can be used efficiently and the product delivered on time. FORECASTING
is the process of making statements about events whose actual outcomes have not yet been observed. A commonplace might be estimation of some variable interest at some specified future date. a scientific way to predict a future event. Starting with certain assumptions based on the management’s experience, knowledge, and judgment. It is a planning tool which helps management in its attempts to cope with the uncertainty of the future.
FORECASTING CATEGORIES
Quantitative Method- is an interrupted set of data observations that have been ordered in equally spaced intervals (units of time). Used to forecast future data as a function of past data; they are appropriate when past data are available.
Qualitative Method- are subjective, based on the opinion and judgment of consumers, experts; they are appropriate when past data are not available.
THREE CLASSES OF FORECASTING
METHOD
Extrapolation –also called time- series methods. A set of data collected at regular intervals. Causal- attempts to find a relationship between the variable to be forecast and one or more other variables.
Judgmental- incorporate intuitive judgments, opinions and subjective probability estimates.
TYPES OF QUALITATIVE FORECASTING METHODS
Executive Opinions
Delphi Method
Sales Force Polling
Consumer Surveys
SIMPLE MOVING