Abstract
Much of the success of enterprise planning and decision-making processes depends on the formulation of accurate forecasts. Although it has often been said that nothing happens until a company receives a customer order, unless the enterprise has developed sound plans that enable it to purchase the proper inventory, establish the necessary supply channels, and deliver goods on a competitive basis, the business cannot possibly hope to achieve corporate objectives. In addition, forecasting permits firms to establish performance measurements for customer service, plan the level of total inventory investment, choose between alternative operating strategies, and develop assumptions about the ability of the business to respond to the future needs of the marketplace.
The original version of this chapter was revised. An erratum to this chapter can be found at https://doi.org/10.1007/978-1-4899-7578-2_16
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All references to the APICS Dictionary in this chapter are from the 14th edition (2013).
Some of these characteristics are identified in Makridakis, Spyros, and Steven Wheelwright. 1989. Forecasting methods for management, 26–28. New York: John Wiley & Sons.
The descriptions of qualitative methods are summarized from Makridakis and Wheelwright, 240–275 and DeLurgio, Stephen A., and Carl D. Bhame. 1991. Forecasting systems for inventory management, 201–204. Homewood: Business One Irwin.
Key references used in the writing of this section are Makridakis and Wheelwright, 170–191; DeLurgio and Bhame, 261–286; Jacobs, F. Robert, William L. Berry, D. Clay Whybark, and Thomas E. Vollmann. 2011. Manufacturing planning and control for supply chain management: APICS/CPIM certification edition, 79–91. New York: McGraw-Hill; Heizer, Jay, and Barry Render. 2004. Principles of operations management, 5th ed, 25–136. Upper Saddle River: Pearson-Prentice Hall; and Lind, Douglas A., William G. Marchal, and Samuel A. Wathen. 2010. Statistical techniques in business and economics, 14th ed, 454–563. Boston: McGraw-Hill Irwin.
DeLurgio and Bhame, 244–245.
Reference Jacobs, et al., 86–90 and Lind, et al., 612–622.
Reference DeLurgio and Bhame, 198–201; Makridakis and Wheelwright, 52–53; and Lind, et al., 455–491.
See the discussion in Plossl, George W. 1967. Production and inventory control, 2nd ed, 106–108. Upper Saddle River: Prentice Hall and Heizer and Render, 130–131.
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Ross, D.F. (2015). Forecasting in the Supply Chain Environment. In: Distribution Planning and Control. Springer, New York, NY. https://doi.org/10.1007/978-1-4899-7578-2_5
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DOI: https://doi.org/10.1007/978-1-4899-7578-2_5
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