Supply Chain Management Professional (SCMP) · Question
Which method is commonly used to predict future demand based on historical data patterns?
Time series forecasting uses historical data, like past sales, to identify trends and patterns for future demand prediction.
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Question: Which method is commonly used to predict future demand based on historical data patterns?
Answer options:
- Random walk
- Heuristic optimization ✅ Time series forecasting
- Linear programming
Correct answer: Time series forecasting
Explanation: Time series forecasting uses historical data, like past sales, to identify trends and patterns for future demand prediction.
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