What is forecast in SAP SCM-EWM - Extended Warehouse Management?

SAP Term: forecast

• Component: SCM-EWM

• Component Name: Extended Warehouse Management

• Description: A way of planning the future expected workload in Labor Demand Planning based on historical workload records.

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• Key Concepts: 
  Forecasting in SAP Extended Warehouse Management (SCM-EWM) is the process of predicting future demand for goods and services. It is used to plan and manage inventory levels, production schedules, and other supply chain activities. Forecasting helps organizations to anticipate customer needs and optimize their operations. 
  
  How to use it: 
  In SAP EWM, forecasting is done using the Forecast Modeler tool. This tool allows users to create and manage forecasts based on historical data. The Forecast Modeler also provides a range of forecasting methods, such as exponential smoothing, moving average, and regression analysis. 
  
  Tips & Tricks: 
  When creating a forecast in SAP EWM, it is important to consider the accuracy of the data being used. Historical data should be up-to-date and complete in order to ensure accurate predictions. Additionally, it is important to consider the time frame of the forecast; short-term forecasts are more accurate than long-term forecasts. 
  
  Related Information: 
  For more information on forecasting in SAP EWM, please refer to the official SAP documentation: https://help.sap.com/viewer/product/EXTENDED_WAREHOUSE_MANAGEMENT/9.5/en-US