Demand Forecasting

Start with the language of forecasting

The flashcards in Forecasting Demand - Definitions introduce terms including trend, seasonality, random variation, dependent demand and independent demand. Use them to become familiar with the language before moving on to methods. You can return to the deck when a term appears in a quiz or mind map.

For a closer look at methods, the flashcards in Operations: Forecasting cover moving averages, weighted moving averages, exponential smoothing and linear regression. They also include strategic and tactical forecasts.

Test concepts, then explore a map

The Operations Management quiz includes questions on naive forecasts, time-series forecasting and forecasting time horizons. After using the flashcards, try the quiz and note the concepts you want to study again.

Several mind maps on the page are titled Forecasting. One outlines qualitative and quantitative approaches, including grassroots forecasting and market research. Another covers forecasting approaches, time-series forecasting, formulas and controlling forecasts. Use the descriptions to find the map you want, then compare its branches with the terms you met in the flashcards and quiz.

Connect forecasting with operations

The Operations Management / Forecasting mind map describes forecasting in relation to a business or company and its past and present data. The Hard Rock Cafe mind map includes local data inputs such as restaurant visits, purchases, daily sales and inventory alongside sales forecasting.

These resources offer ways to explore Demand Forecasting as a section of Operations Management and Strategy in Industrial engineering and quality. Move between a definition, a method and an operations example as you study. Choose a resource that fits what you want to explore next.