| Abstract | For all companies, demand forecasting plays a key role, which affects directly to business strategy, business expansion, and business management.
Therefore, it is very important and effective if we can build up a demand forecasting model, which can generate a reliable data of demand to be used as indicator for others department such as planning, production, supply chain, accounting … to follow and manage their operation effectively in order to adapt demand for sales. It is good performance of related departments which can help company to fully utilize production capacity, reduce lost sales and get maximized profit.
The objectives of demand forecasting model is to help determine the amount of goods that sales need each month in a yearly planning problem. From that data other departments such as planning, production, and supply chain can set up their working plan to buy material, produce and keep stock properly with the lowest cost.
To achieve the above target, in this research I have built a model in Excel to do demand forecasting of Thai beverage packaging company. The model is expected to be able to help that company to figure out a suitable demand each month. From that data management can make decision on how much of stock level they should keep each month to satisfy the demand, which fits their production capacity and with the lowest inventory holding cost. |