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lecture3-SupplyChain-Forecasting

lecture3-SupplyChain-Forecasting - ESI 6323 Demand...

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ESI 6323 Demand Forecasting in a Supply Chain
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1 Outline The role of forecasting in a supply chain Characteristics of forecasts Components of forecasts and forecasting methods Basic approach to demand forecasting Time series forecasting methods Measures of forecast error Forecasting demand at Tahoe Salt Forecasting in practice
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2 Role of Forecasting in a Supply Chain The basis for all strategic and planning decisions in a supply chain Used for both push and pull processes Examples: Production: scheduling, inventory, aggregate planning Marketing: sales force allocation, promotions, new production introduction Finance: plant/equipment investment, budgetary planning Personnel: workforce planning, hiring, layoffs All of these decisions are interrelated
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