Lecture 45 : Demand Forecasting

[Music] [Music] hello dear friends welcome back to nptl online course on Logistics and Supply Chain management so in the last session we uh discussed about locating the facility so where we should locate the facility so that we we can be somewhere we can be uh you know cost optimization can also be ensured and somewhere the

responsiveness quick delivery of the product can also be ured right so uh once you have decided the location the very next step should come the forecasting the demand because once you will predict the Demand only then you can design the capacity of that location right how large how big you need to design so this session we'll discuss

about the demand forecasting right what are the factors we need to consider what are the challenges for demand forecasting what different types of demand forecasting techniques we have we'll discuss some qualitative techniques we'll discuss some quantitative technique as well right so this is uh some related data latest data by World Bank on uh Indian you know how

Indian economy is behaving uh since last 2 three years right so if you can see uh instead of you know uh the global economy uh the global markets they are facing challenges but still India somehow managed uh the growth rate right and you can see Financial year 2023 2022 and 3 uh at 7 2% right so India's growth

rate was the second highest among G20 countries and almost twice the average for emerging market economies right so this resilience was underpinned by robust domestic demand which is quite obvious we have used customer potential whatever we are producing we can you know consume within the country right so that that kind of Market is there and