1. What is Forecasting? Process of predictinga future event Underlying basis of ??all businessdecisions Production Inventory Personnel Facilities 2.…
Welcome to MM305 Unit 5 Seminar Prof Greg Forecasting What is forecasting? An attempt to predict the future using data. Generally an 8-step process Why are you forecasting?…
Operations Management Forecasting Basic input in decision process Two major aspect of forecasting Expected demand Degree of accuracy What is Forecasting? Short-range forecast…