Project 2
Trend Analysis & Forecasting:
This is a method used bu automotive researchers to predict the future design of a component.They will study the current design and the technologies that are in development which can be used for their advantage.
They will also study the competitors design also and arrive at the futuristic design that is possible with the current technology available.
Trend analysis is based on the idea that what has happened in the past provides an idea of what will happen in the future. There are 3 main sort of trends.
There are,
- Short Trends
- Intermediate Trends
- Long term Trends
Trend Analysis attempts to predict a trend and is helpful because moving with trends, and not against them, will lead to profitable output. Reduced inventory costs. Responsive customer service and demand fulfillment. Improvement in leveraging working capital. Shorter time to market for customized new products. Improved accuracy between demand forecasting and fulfillment
Shift from reactive to proactive and prescriptive planning operations. Ability to sense demand and generate a supply plan that assures profitability. Create a single version of the truth. Optimize the performance of supply-chain networks
