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    Demand Forecasting: Click To Edit Master Subtitle Style

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    Sauarv Kumar
    The document discusses demand forecasting, which involves determining the quantity of goods to purchase in the future. It covers factors that affect demand forecasting like time horizon and level of forecasting. Short term forecasts are used for production scheduling and inventory management, while long term forecasts are for planning new projects. Demand is determined by factors like income, price, demography for consumer goods and industry growth and capacity for capital goods. The document also outlines qualitative and quantitative methods for demand forecasting, including expert opinion, surveys, test marketing, time series analysis and regression.

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    Demand Forecasting: Click To Edit Master Subtitle Style

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    Sauarv Kumar
    23 views10 pages
    The document discusses demand forecasting, which involves determining the quantity of goods to purchase in the future. It covers factors that affect demand forecasting like time horizon and level of forecasting. Short term forecasts are used for production scheduling and inventory management, while long term forecasts are for planning new projects. Demand is determined by factors like income, price, demography for consumer goods and industry growth and capacity for capital goods. The document also outlines qualitative and quantitative methods for demand forecasting, including expert opinion, surveys, test marketing, time series analysis and regression.

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    The document discusses demand forecasting, which involves determining the quantity of goods to purchase in the future. It covers factors that affect demand forecasting like time horizon and level of forecasting. Short term forecasts are used for production scheduling and inventory management, while long term forecasts are for planning new projects. Demand is determined by factors like income, price, demography for consumer goods and industry growth and capacity for capital goods. The document also outlines qualitative and quantitative methods for demand forecasting, including expert opinion, surveys, test marketing, time series analysis and regression.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    23 views10 pages

    Demand Forecasting: Click To Edit Master Subtitle Style

    Uploaded by

    Sauarv Kumar
    The document discusses demand forecasting, which involves determining the quantity of goods to purchase in the future. It covers factors that affect demand forecasting like time horizon and level of forecasting. Short term forecasts are used for production scheduling and inventory management, while long term forecasts are for planning new projects. Demand is determined by factors like income, price, demography for consumer goods and industry growth and capacity for capital goods. The document also outlines qualitative and quantitative methods for demand forecasting, including expert opinion, surveys, test marketing, time series analysis and regression.

    Copyright:

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    Demand Forecasting

    Click to edit Master subtitle style

    3/3/12

    DEMAND FORECASTING

    An activity of determining qty. of goods to be purchased in Future for forecasting Demand

    Necessity

    Stock Effects Response effects

    Market

    Factors

    affecting Demand forecast

    3/3/12

    Factors involved in Demand Forecasting


    1.

    How far ahead?

    a. Long term eg., petroleum, paper, shipping. Tactical decisions. Within the limits of resources already available. b. Short-term eg., clothes. Strategic decisions. Extending or reducing the limits of resources.

    2. Undertaken at three levels:


    a. b. c.

    Macro-level Industry level eg., trade associations Firm level

    3. Should the forecast be general or specific (productwise)? 4. Problems or methods of forecasting for new vis--vis well established products.
    3/3/12

    Short Term forecast


    Scheduling Proper

    of production to avoid problems of over production and under- production. management of inventories suitable price strategy to maintain consistent sales a suitable sales strategy in accordance with the changing pattern of demand and extent of competition among the firms. financial requirements for the short period.
    3/3/12

    Evolving

    Formulating

    Forecasting

    Long Term Forecast


    Planning

    for a new project, expansion and modernization of an existing unit, diversification and technological up gradation. long term financial needs. It takes time to raise financial resources. suitable manpower. It can help a firm to arrange for specialized labour force and personnel. a suitable strategy for changing pattern of consumption.
    3/3/12

    Assessing

    Arranging

    Evolving

    Determinants of Demand
    1. Non-durable consumer goods:
    1.

    Purchasing power disposable personal income (personal income direct taxes and other deductions). Published by C.S.O. Price. Demography:

    2. 3.

    2. Durable consumer goods:


    1. 1. 2.

    Choice between using the goods longer by repairing it, or disposing it off and replacing it with a new one. Require special facilities for their use, eg., roads for automobiles. Household demand vis--vis individual demand. Family characteristics.
    3/3/12

    3. 4.

    Determinants of Demand
    3. Capital goods: used for further production. Demand will depend upon the specific markets they serve and the end uses for which they are bought. Data required for estimating the demand for capital goods:
    a. b.

    The growth prospects of the user industries. The norm of consumption of capital goods per unit of installed capacity. The velocity of their use.

    c.

    3/3/12

    Methods of Demand Qualitative Methods Forecasting


    Unaided

    Judgements/ Expert Opinion/ Hunch Method Opinion Markets Bootstraping

    Collective Perdiction Delphi

    Technique Interactions

    Judgemental Simulated Conjoint Test

    analysis
    3/3/12

    marketing

    Test marketing
    Buyers

    Intentions Clinics

    Consumer Neuro

    Science Experiments shopping and virtual Management

    Market Virtual

    3/3/12

    Quantitative Methods
    Time

    Series averages Indicator method and regression Equations

    Moving

    Leading

    Correlation

    Extrapolation

    3/3/12

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