Over twenty years research on cognitive biases and limitations has built a strong case for managers not to use their judgement if a suitable formula or model is available. Much of this work was built on research demonstrating that in an environment where the judgemental cues are well...

Forecasts of demand are crucial to drive supply chains and enterprise resource planning systems. Usually, well-known univariate methods that work automatically such as exponential smoothing are employed to accomplish such forecasts. The traditional Supply Chain relies on a decentralized system...

Sales forecasting is becoming increasingly complex, due to a range of factors, such as the shortening of product life cycles, increasingly competitive markets, and aggressive marketing. Often, forecasts are produced using a Forecasting Support System that integrates univariate statistical...