Articles
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Articles
February 5, 2018
Whether you realize it or not, virtually every business decision and process is based on a forecast. Anything you plan is generally based on an assumption of something happening...
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Articles
December 13, 2017
1.Mistake: The more sophisticated the model, the better. Correction: The sophisticated models are not necessarily better. Very
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Articles
December 13, 2017
Mention "forecasting," and most people think you're talking about their local meteorologist describing temperature ranges and cold
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Articles
December 13, 2017
There are basically three types of models, which are: (1) Time Series (2) Cause-And-Effect (3) Judgmental TIME SERIES MODELS A Time
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…
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