Propagation of best practices in value and supply chain management: Demand forecasting and planning

Abstract

This paper is a discussion article that focuses on the propagation of best practices in value and supply chain management. Specifically, the article discusses the application of prudent demand analysis and forecasting techniques as tools for effective and efficient business management. The use of quantitative models such as time-series and econometric methods in forecasting prices, sales and demand volumes have formed the subject matter of the paper. The expeditious adoption of the techniques presented herein can equip the entrepreneur or manager with essential knowledge of future demand conditions that can be extremely useful when planning production schedules, inventory control, advertising campaigns, output in future periods, and investment, among other things. The ultimate expected impacts would be to facilitate the enhancement of economic and financial profitability, sustainability and other micro-economic and socio-economic performance variables.