What is forecast in SAP MA-SMOPS - SmartOps?

SAP Term: forecast

• Component: MA-SMOPS

• Component Name: SmartOps

• Description: The prediction, projection, or estimation of demand over the specified future data horizon. Can be determined by mathematical means using historical data, created subjectively by using estimates from informal sources, or it can represent a combination of both techniques.

Smart SAP Assistant

• Key Concepts: 
  Forecasting is a process used to predict future demand for products and services. In SAP MA-SMOPS SmartOps, forecasting is used to create a demand plan that can be used to optimize inventory levels and production schedules. 
  
  How to use it: 
  Forecasting in SAP MA-SMOPS SmartOps is done by creating a demand plan. This plan is based on historical data and current market trends. The demand plan can then be used to determine the optimal inventory levels and production schedules. 
  
  Tips & Tricks: 
  When creating a demand plan, it is important to consider the seasonality of the product or service being forecasted. This will help ensure that the demand plan accurately reflects the expected demand for the product or service. 
  
  Related Information: 
  SAP MA-SMOPS SmartOps also offers other features such as supply chain optimization, inventory optimization, and production scheduling. These features can be used in conjunction with forecasting to create an effective demand plan.