Why the statistic forecast & demand plan is the main objective for the industry?

1. The statistic forecast is the main objective for industry:

 Statistic + forecast: Statistic is the methods employing time series and Forecast is the process of
making predictions of the future based on past and present data.
 Is the best solution to provide the baseline forecast for the supply chain
 There’re models to forecast, chance to choose the best models one to practice in real life
 More accurately, and common used by everyone.

2.
 The demand planning: is the process of forecasting the demand for the goods and service
produced and delivered more efficiently and more satisfy the customers.

 The demand planning: uses statistical forecast with the past sale number, historical, current data to
forecast the future customers demand. A good forecast is done by looking for the company or the
organization: the current situation, past history data by paying the realistic and honest of the data
and also involve with the customer interests too.

 Demand planning is main objective for industry:

 Allow company to be accurately through supply chain

 Meet an efficient financial decision
 Meet demand at the right time of customers (Better customer services)
 We can know how much we can produce in the future, where we produce, and the budget to
produce.
 Reduce risk & Reduce inventory cost
 The objective to assess the business
 A good statistical engine, report & supportive data.
 The supply forecast follows it