Statistical Forecasting Methods - Production Planning

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kavinkumar
kavinkumar Member, ALL USERS, GroupMember, Partner, Certified Master Anaplanner, Certified Model Builder Posts: 5 Certified Master Anaplanner
in Anaplan Community

HI Team,

We are developing a model for Production Planning (Smelter). The client has requested to have statistical forecasting methods to be applied to a few of their monthly inputs. I would like to know what are the types of algorithms that we can take/consider for a production planning scenario. Out of 30 or so available methods, we would like to take only those that are relevant for production planning.

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  • mudit.garg
    mudit.garg Member, ALL USERS, Partner Posts: 2 New Contributor
    Hi Kavin,

    There's no thumb rule for method selection. Ideally you should let the system decide the best fit.

    However, one approach could be to use only seasonality and trend based methods. These may help as an indicator to expedite production and pre-build given the higher forecast during the seasonal months/weeks.

    Regards,
    Mudit
  • angs75
    angs75 Member, ALL USERS, GroupMember, Certified Master Anaplanner, Community Member, Certified Model Builder Posts: 5 Certified Master Anaplanner

    Hi,

     

    Adding to @obriegr , I agree Anaplan's Statistical model is a good start as Mathematical progression, but it is not in the level of AI/ML. if you are really looking for ML based modeling then you need to go for PlanIQ. It uses Amazon Forecasting and you can do different Arima  modeling easily. 

    Please check the below link for more details.

    https://www.anaplan.com/wp-content/uploads/2020/09/planIQ-Solution-Brief.pdf

     

    Note : this can't do Clustering till now.

     

    Thanks

    Angshuman 

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