What is ex-post forecast in SAP PP-MP - Production Planning?

SAP Term: ex-post forecast

• Component: PP-MP

• Component Name: Production Planning

• Description: A forecast for past periods. The ex-post forecast is used for: Evaluating forecast quality Model selection Parameter optimization Forecasting missing periods in retrospect

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• Key Concepts: 
  Ex-post forecast is a term used in the Production Planning and Detailed Scheduling (PP-MP) component of SAP. It is a type of forecasting that uses actual data from the past to predict future outcomes. This type of forecasting is useful for predicting future demand and production needs. 
  
  How to use it: 
  In SAP, ex-post forecasting can be used to create a forecast based on historical data. This data can be used to create a forecast for future demand and production needs. The forecast can then be used to plan production and inventory levels. 
  
  Tips & Tricks: 
  When using ex-post forecasting in SAP, it is important to ensure that the data being used is accurate and up-to-date. This will help ensure that the forecast is as accurate as possible. Additionally, it is important to consider other factors such as seasonality when creating the forecast. 
  
  Related Information: 
  Ex-post forecasting is just one type of forecasting that can be used in SAP. Other types of forecasting include time series forecasting, regression analysis, and Monte Carlo simulation. Each type of forecasting has its own advantages and disadvantages, so it is important to consider which type of forecasting will best meet your needs.