Quantitative Forecasting Methods

Quantitative forecasting methods require historical data on past demand. They assume that the conditions that generated the past demand will generate the future demand, i.e., history will tend to repeat itself. Most of the quantitative forecasting methods fall under the category of time series analysis. 

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Explain the differences between qualitative and quantitative forecasting methods. Which method is applicable under what conditions ... 

Companies must balance objective and subjective factors when forecasting demand. Although we focus on quantitative forecasting methods in this chapter, companies must include human input when they make their final forecast. Seven-Eleven Japan illustrates this point... 

ISO 9004-2000 standard, 1972 non-ISO standards, 1973 other ISO 9(XX) standards, 1972-1973 registration to, 1973-1974 U.S. standards, 1967-1968 Quality of service (QoS), 250, 1796 Quality pleuming, 1247 Quality policy, 1967 Qualysis AB, 1125 Quantdes, 2476, 2477 Quantitative forecasting models, 793 Quantity, production, 452 Quasi-Newton methods, 2551, 2553 Queries, 67, 81-82, 84, 2013 Query languages (QLs), 119... 

Quantitative skills because forecasting often involves the use of statistical forecasting methods and algorithms. 

The success of a manufacturing supply chain depends on its ability to accurately forecast customer demands and produce in time to meet those demands. This chapter is divided into two parts. Part 1 (Demand Forecashng) discusses the commonly used forecasting methods (both qualitative and quantitative) used in industry. It also includes a discussion of available forecasting software and real-world applications of forecasting methods. 

These methods are based on subjective opinions obtained from company executives and consumers. These methods are ideally suited for forecasts where there are no past data or past data is not reliable due to the changes in environment (e.g., peacetime data on spare part needs for military aircrafts are not useful for forecasts during war time). Qualitative methods are commonly used for strategic decisions where long-term forecasts are necessary. The qualitative approaches vary in sophistication from scientifically conducted consumer surveys to intuitive judgments from top executives. Quite frequently qualitative methods are also used as supplements to quantitative forecasts. In a 1994 survey of forecasting in practice, 78% of top 500 companies responded that they always or frequently used qualitative methods for forecasting (Sanders and Manrodt, 1994). 

Currently, the landslide hazard spatial prediction methods can be divided into qualitative methods and quantitative methods. As we all know qualitative forecasting method mainly depends on the subjective experience and the predicted accuracy of qualitative methods is lower than it of quantitative methods. So the qualitative methods have been gradually replaced by the quantitative methods. Quantitative models can be divided into statistic analysis models, deterministic models, probabilistic model, fuzzy information optimization processing and neurd network models. 

Revenue management is not a phrase-based management concept but a discipline based on quantitative methods such as statistics, simulation and optimization as well as systems including steps for data collection, estimation and forecasting, optimization and sales control (Cross 2001, pp. 17-18). 

This matrix shows that products with high variability and high volume require more human input from sales or customers, as the statistical quantitative methods alone will not be able to provide good forecast accuracy. 

The chief aim of research is a ground of applicability of lineament analysis in a complex of quantitative methods of karst forecasting. To achieve this aim there were handled next tasks ... 

In order to obtain structure-biological activity relationships mathematic methods have been used [191-193]. Quantitative correlations between molecular structure and pharmacokinetic and pharmacodynamic characteristics of fluoroquinolones in combination with informative hanometric approach have been used to forecast anti-pneumococcus activity [194]. Elucidation of the structure - activity relationships in the series of fluoroquinolones is the subject of numerous publications [195-197]. Dependence of antibacterial activity on the nature of substituents has been established for several series of bicyclic fluoroquinolones [11,198-200]. 

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