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The Difference It is important to know the difference between forecasting software and forecasting systems. Forecasting software
Whether management realizes it or not, forecasts are essential because every business decision depends on estimates of the future. Forecasts are needed to decide whether to expand ...
Very often questions arise how to convince upper management that the forecasting function is absolutely necessary. By calculating
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What is Croston’s Intermittent Model?
Designed to deal with sporadic demand (no seasonality) with a two-step process. The main goal is to provide a good safety stock, resulting in a situation where there is neither over or under stock. This is accomplished by considering two aspects of the data: the demand size and the…Read on in the Glossary