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Demand Forecasting Problems in Production Planning

  • Jonathan R. M. Hosking
Chapter
Part of the International Series in Operations Research & Management Science book series (ISOR, volume 151)

Abstract

A recent survey of 247 senior finance executives (CFO Research Services, 2003) found that “accurately forecasting demand” was the most commonly occurring problem in their companies’ supply chain management. Forecasting is recognized as a hard problem. “It is difficult to predict, especially the future,” according to a quotation attributed to Niels Bohr (among many others).

Keywords

Lead Time Forecast Error Mean Absolute Percentage Error Product Family Forecast Accuracy 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media, LLC 2011

Authors and Affiliations

  1. 1.IBM Research DivisionT. J. Watson Research CenterYorktown HeightsUSA

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