The process of combining statistical forecasting techniques and judgement to construct demand estimates for products or services (both high and low volume; lumpy and continuous) across the supply chain from the suppliers’ raw materials to the consumers’ needs. Items can be aggregated by product family, geographical location, product life cycle, and so forth, to determine an estimate of consumer demand for the finished product, service parts, or services.
Synonymous: Demand-driven forecasts
Included terms: Strategic forecasts ; Medium and longterm forecasts; Tactical forecasts; Short-term forecasts
Source: (APICS Dictionary; Helms, 2006)