The predicted forecast at period 7 is 120
Calculation of the predicted forecast at period 7:
Since there is linear demand forecast: Demand = 50 + 10 X (where X is the predicted forecast at period 7)
So,
= 50 + 10X
= 50 + 10(7)
= 50 + 70
= 120
What is Demand Forecast?
Demand forecasting is the technique of estimating and predicting future consumer demand for a good or service using predictive analysis of previous data. By estimating future sales and revenue, demand forecasting assists the company in making more educated supply decisions. Utilizing previous sales data to estimate future sales, organisations may use demand forecasting to maximize inventory. This allows them to make well-informed decisions about anything from inventory planning and warehousing requirements to running flash sales and satisfying consumer expectations.
To learn more about Demand Forecasting
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