Forecasting is the use of historic data to determine the direction of future trends. Businesses utilize forecasting to determine how to allocate their budgets or plan for anticipated expenses for an upcoming period of time. This is typically based on the projected demand for the goods and services they offer.
In MonsoonSIM, Forecasting is one of the core modules. In our model, the forecasted data and trends are assumed to be fairly accurate. Hence, players should be able to execute their strategies accordingly. Learners are encouraged to start with the basic module, called Baseline model, and slowly progress to more advanced functionalities.
Here are some of what you will learn in the MonsoonSIM Forecasting (Baseline):
- Concept of inventory planning based on future demand
- Concept of capacity planning based on future demand
- Concept of production planning based on future demand
- Concept of cashflow planning based on future demand
Here are some of what you will learn in the MonsoonSIM Forecasting (Advanced):
- Concept of foreign exchange impact on cost of imported goods and materials