Demand Forecasting for Managers

Stephan Kolassa · Enno Siemsen

Aug 2016 · Business Expert Press

About this eBook

Most decisions and plans in a firm require a forecast. Not matching supply with demand can make or break any business, and that's why forecasting is so invaluable. Forecasting can appear as a frightening topic with many arcane equations to master. For this reason, the authors start out from the very basics and provide a non-technical overview of common forecasting techniques as well as organizational aspects of creating a robust forecasting process. The book also discusses how to measure forecast accuracy to hold people accountable and guide continuous improvement. This book does not require prior knowledge of higher mathematics, statistics, or operations research. It is designed to serve as a first introduction to the non-expert, such as a manager overseeing a forecasting group, or an MBA student who needs to be familiar with the broad outlines of forecasting without specializing in it.

About the author

Stephan Kolassa is a research expert at SAP. He is responsible for designing statistical and optimization algorithms used in SAP's software products for forecasting in retail, which automate forecasting and replenishment for millions of stock-keeping units at thousands of supermarkets, drugstores, and other retail outlets all over the world. In addition, Stephan serves as a director for the International Institute of Forecasters (IIF) and as an associate editor for the IIF's practitioner-oriented journal Foresight.

Enno Siemsen is the Procter & Gamble Bascom Professor at the University of Wisconsin-Madison, as well as the executive director of the Erdman Center for Operations & Technology Management. His research focuses on human judgment in sales & operations planning processes. Siemsen has published in leading outlets such as Management Science, Organization Science, Journal of Operations Management, Strategic Management Journal and Manufacturing & Service Operations Management.