on 06-07-2009 3:40 PM
Hi all,
can any one explain the usefullness of the different forecast models used for statistical fcst . .
or atleast let me know a link wherein i can learn the same. . .
Regards,
Prasad.
Dear Prasad,
I have attached the link which clearly explains the various forecasting models used for forecasting.
http://help.sap.com/saphelp_scm70/helpdata/EN/b6/8c7741f6865458e10000000a1550b0/frameset.htm
Please let me know if this helps you to resolve your query.
Regards
R. Senthil Mareeswaran.
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Hi Prasad,
Statistical Forecasting methods basically are used for Forecasting the future requirements by using your previous History.Usually what is used as a reference is the Sales Order History (SOH). Based on SOH various methods like Univariate are used to determine the Forecast. On top of the results there are ways and means to apply Outlier corrections or Corrections to the generated Forecast.
The various methods that can be used under Univariate are
Constant Model
Croston Metod
Trend Model
Linear Regression
Seasonal Model
Seasonal Trend Model
Seasonal + Linear Regression
Each of these models will give a different Value of the Forecast based on the Same History. It is the decision of the Business to decide which model is most appropriate to meet there requirements.
A Univariate Profile is created as per the selection of the model and Executed. Frequency of generating Statistical Forecast should be alligned to the frequest of Forecasating. If Forecasting is done once a month then it should be run once a month to generate future requirments.
The link for knowing more on Demand Planning and Forecasting is already given to you.
Thanks,
Harsh
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