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Operations Management: Sustainability and Supply Chain Management, Twelfth Edition
book

Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

by Jay Heizer, Barry Render, Chuck Munson
February 2016
Intermediate to advanced content levelIntermediate to advanced
480 pages
219h 58m
English
Pearson
Content preview from Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

Seven Steps in the Forecasting System

Forecasting follows seven basic steps. We use Disney World, the focus of this chapter’s Global Company Profile, as an example of each step:

  1. Determine the use of the forecast: Disney uses park attendance forecasts to drive decisions about staffing, opening times, ride availability, and food supplies.

  2. Select the items to be forecasted: For Disney World, there are six main parks. A forecast of daily attendance at each is the main number that determines labor, maintenance, and scheduling.

  3. Determine the time horizon of the forecast: Is it short, medium, or long term? Disney develops daily, weekly, monthly, annual, and 5-year forecasts.

  4. Select the forecasting model(s): Disney uses a variety of statistical models ...

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Publisher Resources

ISBN: 9780134422404