Operation Management – Forecasting
Forecasting (12 points)
You are in charge of creating a forecast for an organization that manufactures laptops. The industry is very competitive and supplies have to be purchased far enough ahead of time so that there is no delay in the manufacturing process should the demand increase.
- Which forecasting technique would you choose?
- What are the steps in the forecasting process?
- Why is it important to create a forecast for the correct period of time?
- What happens when a forecast is created for 3 months when an organization needs an accurate forecast for 6 months?
Discuss the concepts, principles, and theories from your textbook. Cite your textbooks and cite any other sources if appropriate.
- Your initial post should address all components of the question with a 500 word limit.
- Reply to at least two discussion posts with comments that further and advance the discussion topic
