Efficient supply chain management relies on accurate demand forecasting. Typically, forecasts are required at frequent intervals for many items. Forecasting methods suitable for this application are ...

In the STEPAR method, PROC FORECAST first fits a time trend model to the series and takes the difference between each value and the estimated trend. (This process is called detrending.) Then, the ...

Time series forecasts are used to predict a future value or a classification at a particular point in time. Here’s a brief overview of their common uses and how they are developed. Industries from ...

As the name suggests, production planning is simply a projection of future business--or production--activity. Many companies rely on certain mainstay products to drive company profits. To ensure that ...