There are several approaches of forecasting to help key decision makers seeing the future both opportunities and business risk. Thus, through the combination of qualitative methods, quantitative, and also naive method, SUG-MI can provide forecasting analysis for clients with the above cost-effective forecasting model.
Another indicators that are used by SUG-MI in forecasting are competitive situation, market driver, and supply & distribution factor. Forecasting has application in many situations:
- Supply and distribution chain forecasting. To ensure that the right product is at the right place and at the right time. Reducing excess inventory is one of the application of retail stores.
- Economic forecasting. To see the potential growth of the business by considering macroeconomic factors.
- Competitor’s performance. To decide the future positioning by seeing competitor’s performance and the positioning.
- Product forecasting. To understand the future prediction of product lifecycle, hence clients can decide the next product development.
- Sales forecasting. To decide the sales target as an input to predict maximum profit of the business.