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Assignment Details
Part 2 of the textbook provides an overview of the elements involved in a supply chain operation. The ability of a supply chain to manage the integration of supply and demand across countries and companies depends on accurate demand forecasting. Without accurate demand forecasting, it is impossible to develop a viable production plan (i.e., how the supply chain can meet the demand cost-effectively to increase profits). Understanding the various demand forecasting practices (e.g., forecast type, aggregation approach, trending and seasonality, and data quality) helps supply chain managers implement the most effective model for meeting their objectives.
Use this template to complete the assignment: Unit 1 template. Complete the following:
- Introduce the role of demand forecasting as part of a supply chain operation.
- Analyze demand forecasting practices used to understand consumer demand.
- Assess the value of demand forecasting for resolving the given supply chain problem.
- Summarize the critical points of the demand forecasting analysis.
