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UMMARY
Demand forecasting is a crucial aspect of the planning process in supply-chain companies. The most common approach to forecast the demand at manufactures involves the use of computerized forecasting systems to produce the first forecasts. Subsequently these forecasts will be judgmentally adjusted by the company´s experts of demand planning to take into account exceptional circumstances expected over the planning horizon. Making these adjustments is necessary to increase the accuracy of the final forecast. But when the forecast has to be done in a general situation, the model forecast performs better than after the adjustment of the expert. In order to investigate what changes should be done to the current forecasting process existing of a model and an expert, over 25 papers are criticized. Seven different improvements are subtracted from these papers and discussed in detail. In order to implement these improvements, the current process is analyzed and suggestions based on previous research are given. The paper ends with one suggestion for a new lay-out of the forecasting process that takes all the earlier discussed improvements into account. Further research to evaluate this suggested model is recommended and some first steps to do this are explained.
