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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

Chapter 4 Rapid Review

Main Heading Review Material MyOMLab
What is Forecasting? (pp. 108109)
  • Forecasting— The art and science of predicting future events.

  • Economic forecasts— Planning indicators that are valuable in helping organizations prepare medium- to long-range forecasts.

  • Technological forecasts— Long-term forecasts concerned with the rates of technological progress.

  • Demand forecasts— Projections of a company’s sales for each time period in the planning horizon.

Concept Questions: 1.1–1.4
The Strategic Importance of Forecasting (pp. 109110) The forecast is the only estimate of demand until actual demand becomes known. Forecasts of demand drive decisions in many areas, including: human resources, capacity, and supply chain management. ...
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Publisher Resources

ISBN: 9780134422404