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Modeling
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How to provide a forecast accuracy measure that represents a non-weighted average of products?

October 2, 2013 • Featured, How to, ModelingComments (0)

Our Supply Chain Manager has requested that we provide a forecast accuracy measure that represents a non-weighted average of our products, that is, Mean Absolute Percent Error (MAPE), not weighted Mean Absolute Percent Error (wMAPE). He says that our customers score us in the same manner. They do not weight each SKU based on volume/Sales; we [&hellip...

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horizon

How can we use simple modeling methods to forecast for a longer horizon?

October 2, 2013 • Featured, How to, ModelingComments (0)

How can we use simple modeling methods, such as Moving Averages and Exponential smoothing, to forecast for a longer horizon? I note that these methods are good only for forecasting one period ahead. what do we do if we need to forecast, say, twelve periods...

Model

Forecasting for a manufacturer that produces based on tenders

August 2, 2013 • Featured, How to, ModelingComments (0)

What should be the forecasting model of a manufacturer that makes to order based on tenders? It wants to improve service time/availability by keeping some items in safety stock. The risk is that there is 50/50 chance that a tender may not be won. To minimize...

Patio Furniture

What is the right forecasting model?

August 2, 2013 • Featured, How to, ModelingComments (0)

What should be the right forecasting model for the Retail Furniture industry that has a life span of only six months? The best way to deal with this kind of product is to use its analog, a similar product that was launched in the past. Then determine...