Operations Management: An Integrated Approach, 5th Edition

CHAPTER 8

Forecasting

Before studying this chapter you should know or, if necessary, review

The role of forecasting in operations management decisions, Chapter 1, p. 8.

LEARNING OBJECTIVES

After studying this chapter you should be able to

Identify principles of forecasting.

Explain the steps involved in the forecasting process.

Identify types of forecasting methods and their characteristics.

Describe time series models and causal models.

Generate forecasts for data with different patterns, such as level, trend, and seasonality and cycles.

Describe causal modeling using linear regression.

Compute forecast accuracy.

Explain the factors that should be considered when selecting a forecasting ...