MRP glossary TOP > Demand Forecast > Forecast Model
Forecast Model
Forecast Model
In measuring the forecast, the structure of measurement is analyzed for the factor's effect or errors and expressed by the formula. Once the forecast model is set, it is rarely changed, and thus it might be meaningless when the latest data has not been reflected on it for a long time. It is favorable that a forecast model is always updated according to the latest data.
In measuring the forecast, the structure of measurement is analyzed for the factor's effect or errors and expressed by the formula. Once the forecast model is set, it is rarely changed, and thus it might be meaningless when the latest data has not been reflected on it for a long time. It is favorable that a forecast model is always updated according to the latest data.
Reference：JIT Business Research Mr. Hirano Hiroyuki