Globalisation Essay

694 Words Oct 4th, 2012 3 Pages
Why is forecasting used? Forecasting can be conducted for many purposes, so it is important that the reason for performing the calculation is clearly defined and understood. Some common reasons for forecasting include:
• Planning and Budgeting – Using forecast data can help network planners decide how much equipment to purchase and where to place it to ensure optimum management of traffic loads.
• Evaluation – Forecasting can help management decide if decisions that have been made will be to the advantage or detriment of the company.
• Verification – As new forecast data becomes available it is necessary to check whether new forecasts confirm the outcomes predicted by the old forecasts.
Knowing the purpose of the forecast
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Unfortunately, most enterprise planning systems have very primitive forecasting capabilities—if any at all. This is where Forecast Server comes in. Vanguard Forecast Server offers a pioneering set of features that are specifically designed to facilitate and improve the forecasting process. These features include:
• An intuitive, easy-to-use Web interface,
• Cutting-edge forecasting analytics
• A wide variety of forecasting methods including time-series, statistical, and model-based and dynamic reporting.
• Support for overrides, adjustments, promotions, and special events.
• Networked for geographically dispersed user groups.
• Support for collaborative, distributed forecasting.
• Support for data and systems integration.
• Multiple options for integrating with business systems and data sources.
Forecast Server can be configured to run stand-alone or as a component in your existing ERP system. Stand-alone, Forecast Server can manage the entire process from SKU-level forecasting to the generation of optimized production plans and financial projection. As part of your ERP system, Forecast Server can be configured to feed forecasts directly into your database in support of existing planning processes.
• Vanguard combines all of the most powerful and essential quantitative methods in management with features of spreadsheets, artificial intelligence tools, and maths applications to produce an advanced business

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