Forecasting in operations management is the process of making predictions of the future based on past and present data. It is used to estimate earnings or other data for subsequent periods in finance. Demand forecasting often uses information about past demand to identify patterns that can help predict future demand. It reduces risk and uncertainty in planning operations.
Course Content
Module 1: Forecasting Demand
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Module 2: Forecasting Process
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Module 3: Forecasting Approaches
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Module 4: Time-Series Forecasting
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Module 5: Associative Forecasting
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Module 6: Forecasting Accuracy and Error
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Forecasting
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