Forecasting

Method in Forecasting

In prevous post we learn some method in forecasting , now lets see how every method work ! .

1.     Naive

In Naive method we just take prevous data to forecasting a next period , this the example :

Suppose D_oct = 90 units then demand prediction for November will be = D_oct = 90 units.

From above example we get formula Demand forecast for next period is same with the current demand:

                                D_t+1 = D_t

Forecasting/Production Planning

OK now the next chapter in Introduction Industrial Engineering subject . this time we will learn Forecasting .

Introduction Industrial Engginnering

Engginnering must adding value to the product , for example from material that we process become a thing with more value from material .

there is the simple just like this picture