Forecast

Forecasting
Forecasting is the use of historical 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.

MonsoonSIM supports multiple levels of complexity. 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 cash flow 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

In MonsoonSIM, the Forecast module is related to the following department (modules)
Note: There is no pre-requisite to learning the MonsoonSIM Baseline concepts
 * Finance (FIN)
 * Retail (RTL)
 * B2B / Wholesales (B2B)
 * Human Resources Management (HCM)

Baseline:

 * Players can observe the forecast in the following areas:
 * Retail market demand
 * B2B  market demand
 * Currency exchange
 * Retail Forecast
 * The forecasts are for the per day unit demands for each of the product assuming all competitors do not change their pricing and have an adequate amount of supplies.
 * However, the daily actual unit sold per team may vary from team to team, this is because the actual retail unit sold relies on other factors such as pricing (yours in comparison with your competitors), marketing (yours in comparison with your competitors), price elasticity and whether your competitors ran out of stocks or not.
 * Generally, if the overall prices are high, the accumulated demand will drop and vice versa.
 * B2B Forecast
 * The forecasted data are fairly accurate and players can rely on the information for planning and execution

Advanced:

 * Currency Forecast
 * The forecasted data are fairly accurate and players can rely on the information for planning and execution