Defining "Demand" for Demand Forecasting

Mike Gilliland

Foresight: The International Journal of Applied Forecasting, 2010, issue 18, 4-8

Abstract: Demand forecasting is often uncritically based on histories of orders received, shipments/sales, or some combination of the two. As Mike Gilliland explains in this article, the ultimate goal - a measurement of true demand - is elusive and not always amenable to simple formulae based on orders and shipments. What to do? Recognizing the measurement difficulties, Mike suggests we can often derive a proxy for true demand that is close enough to be useful in generating an unconstrained forecast. Copyright International Institute of Forecasters, 2010

Date: 2010
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