Exploring Demand Forecasting Strategy in Young Fast-Growing Companies : A Case Study of Nudient

Abstract: The purpose of this study is to provide the case company Nudient with a recommendation of what demand forecasting methods and strategies they should use. To be able to make a tailored recommendation, a literature study is conducted to explore what demand forecasting methods are commonly used on applications similar to the case being studied. The forecasting methods and the strategy regarding when and how to use them are thereafter explored in a main literature review. Empirical data is gathered from the case company in the form of interviews and demand data. The empirical data is then used to evaluate which of the methods found in the literature review are a good fit for Nudient, thereafter the demand forecasting strategy is laid out. The final recommendation is divided into two categories, forecasting the demand for new products and forecasting the demand for mature products. For new products, the recommendation is for Nudient to make use of associative modeling, expert consensus, the Delphi method, and market research. For mature products, the recommendation is for Nudient to make use of the moving average method, double exponential smoothing, regression analysis, associative modeling, expert consensus, and the Delphi method.