If a manager asked you whether to use time series forecasting models or regression-based forecasting models, what would you tell him or her?
Answer to relevant QuestionsLooking back at the chapters you have studied so far, discuss how good forecasting can improve operations decisions in these areas. Canton Supplies, Inc., is a service firm that employs approximately 100 people. Because of the necessity of meeting monthly cash obligations, the Chief Financial Officer wants to develop a forecast of monthly cash ...A restaurant wants to forecast its weekly sales. Historical data (in dollars) for fifteen weeks are shown below and can be found on the worksheet C11P6 in the OM5 Data & Calculations Workbook. a. Plot the data and provide ...Find two examples of using RFID technology to monitor and control SKUs and explain the advantages and disadvantages of adopting such technology. Interview a manager at a local business about his or her inventory and materials-management system, and prepare a report summarizing its approaches. Does the system use any formal models? Why or why not? How does the manager ...
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