What is monitoring the forecast model in SAP PP-MP - Production Planning?

SAP Term: monitoring the forecast model

• Component: PP-MP

• Component Name: Production Planning

• Description: The checking of a time series for irregularities that can make a change of forecast model necessary. The forecast model is monitored automatically each time the forecast is performed.

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• Key Concepts: 
  Monitoring the forecast model in SAP PP-MP Production Planning - Master Production Scheduling is the process of tracking and analyzing the accuracy of a forecast model. This is done by comparing the actual demand with the forecasted demand and then adjusting the model accordingly. The goal is to ensure that the forecast model is accurate and up-to-date.
  
  How to use it: 
  To monitor the forecast model in SAP PP-MP Production Planning - Master Production Scheduling, you must first create a forecast model. This can be done by entering the data into the system, such as historical demand, seasonality, and other factors. Once the model is created, you can then track and analyze its accuracy by comparing the actual demand with the forecasted demand. If there are discrepancies, you can adjust the model accordingly.
  
  Tips & Tricks: 
  When monitoring the forecast model in SAP PP-MP Production Planning - Master Production Scheduling, it is important to keep track of any changes that are made to the model. This will help you identify any potential issues or inaccuracies that may arise in the future. Additionally, it is important to regularly review and update your forecast model to ensure that it remains accurate and up-to-date.
  
  Related Information: 
  For more information on monitoring the forecast model in SAP PP-MP Production Planning - Master Production Scheduling, please refer to SAP's official documentation on forecasting models. Additionally, there are many online resources available that provide tips and tricks for creating and managing forecasting models in SAP.