Demand Driven Forecasting

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Production Forecasting

Using exponential smoothing method and past Sales Order / Delivery Note / Quotation data, the forecasting will be calculated. The exponential smoothing method formula is as below:

Production Forecasting

Using exponential smoothing method, system predicts the forecasting for each period and same forecast data will be used to forecast the upcoming period data.

How does the exponential smoothing method works

Production Forecasting

For the above example, we have used one-year sales order data every month. The first-month forecast will be calculated based on the average of all total orders. From the second month onward, the difference between the last month's Total Order and Forecast Value will be multiplied with the Smoothing Constant Value (in between 0 to 1). The default value of the Smoothing Constant is 0.3 which gives efficient forecasting data. The last month'