Forecasting Method in Supply Chain is a set of techniques used to predict future demand for products and services. It is an important tool for businesses to ensure that they have the right amount of inventory and resources to meet customer needs. Forecasting methods can be used to anticipate customer demand, plan for seasonal variations, and develop strategies for responding to unexpected changes in the market. The most common forecasting methods include time series analysis, causal analysis, and judgmental forecasting. Time series analysis uses historical data to predict future demand, while causal analysis looks at external factors such as weather, economic trends, and customer behavior to determine future demand. Judgmental forecasting relies on the experience and expertise of experts to make predictions. All of these methods are important for businesses to understand in order to make informed decisions about their supply chain.
