1. As inventory management is a significant priority within operations management, it is crucial that managers understand...
Question:
1. As inventory management is a significant priority within operations management, it is crucial that managers understand demand forecasting to help streamline product availability and achieve customer satisfaction.
Step 1: addressing the following:
- Identify a global manufacturing firm and explore how forecasting can be used to manage inventory for that firm. .
- Discuss the components of forecasting demand for inventory produced by the chosen firm.
- Explore how forecasting could be used to help streamline product availability for that firm.
2. One common term in productions is a push versus pull environment. The push system of inventory control involves forecasting inventory needs to meet customer demand, while the pull inventory control system will only produce enough of a product to fulfill a customer's work orders.
THIS IS A RESEARCH, PLEASE INCLUDE AN INTRODUCTION, CONCLUSION AND REFERENCES:
- Identify, research, and report back on an organization, company, or any professional setting that would want to investigate using different methods to migrate to a push rather than a pull environment.
- Explain a current organization, its issues, and the methods you would suggest making this change occur.
REFERENCE;
Abolghasemi, M., Beh, E., Tarr, G., & Gerlach, R. (2020). Demand forecasting in supply chain: The impact of demand volatility in the presence of promotion