Quantitative Forecasting — The State of the Art: Extrapolative Models

This paper sponsored by forecasting Study Group of the O.R. Society surveys the alternative extrapolative forecasting models regularly used and examines the various problems that arise. Extrapolative models are particularly appropriate when used for inventory control and materials purchase, and these two situations are considered. The paper concludes with an analysis of the evidence on the forecasting accuracy of extrapolative models.