Flashcards
Forecasting Demand - Definitions
Flashcards do conjunto (8)
- 1ForecastingIt is the business function that attempts to predict sales and use if products so they can be purchased or manufactured in appropriate quantities in advance.
- 2Demand ForecastingForecasting the demand for particular good, component, or service.
- 3Mix ForecastIt is a forecast of the proportion of products that will be sold within a given product family, or the proportion of options offered within a product line, even though the appropriate level of units is forecasted for a given product line, an inaccurate mix forecast can create material shortages and inventory problems.
- 4TrendGeneral upward or downward movement of variable over time (e.g. demand, process attribute)
- 5Seasonality(also known as seasonal variation)
It is a repetitive pattern of demand from year to year (or other repeating time interval) with some periods considerably higher than others. - 6Random VariationFluctuation in data that is caused by uncertain or random occurrences.
- 7Dependent DemandDemand that is directly related to or delivered from the bill of material structure for other items or end products. Such demands are therefore calculated and need not and should not be forecast.
- 8Independent DemandThe demand for an item that is unrelated to the demand for other items. Demand for finished goods, parts required for destructive testing, and service parts requirements are examples of independent demand.
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- CSCP Demand Planning (Forecasting Demand) FlashCards sobre Forecasting Demand - Definitions, criado por itspareshsharma em 30-09-2014.
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