Question

Demand Inventory Case A company has two products with demand patterns as follows over 12 months across three years. The sales across these months are provided in the attached Excel file. Part A Analyze the demand patterns and answer what kind of demand forecasting technique would you use for each product

Answer 1

Answer:

For Product A: Exponential Smoothing

For Product B: Simple Moving Average

Explanation:

There are five main types of forecasting techniques;

1. Simple Moving Average

2. Exponential Smoothing

3. Autoregressive Integration Moving Average

4. Neural Network

5. Croston