Prompt: The challenge is, using two different forecasts completed this week, provide insights into each of the Statements A-B. For example, if I remember clearly, Statement B, the class forecast should provide some very interesting commentary regarding balancing customer service and costs . Your comments Can not be a single sentence; but rather enough explanation, using your forecast vs actual demand to illusrate you knowledge. An answer without data or insights will not receive full or maybe no credit. The total points available is twenty points ten (10)x two (2) =20

Statement A. Good forecasting provides reduced inventories, costs, & stockouts, & improved production plans & customer service; Statement B: the best forecasts must have the lowest total cost and the highest customer satisfaction rating in order to successfully compete in the global market place; Statement C; Forecasting applies to the external events while decision-making applies to internal events and planning is what integrates both processes;Statement D; Covid-19 is a black swan event. Most of the critical demand forecasts that underpin your business could be wrong for at least the next 3 to 12 months and Statement E; Thegoal of demand forecasting is to minimize deviation between actual demand and forecast.

Extra Credit The total XC available is thirty (30) points ten (10) x three (3) =30. You are encouraged to complete any letters C-E, depending on your confidence in your data and the knowledge of this week's material. Please do not try for extra credit if you do not have forecasts available. It is impossible to complete this assignment with out that data. Good Luck.

The assignment will show as 20 points..all extra credit will show above the 20. For example, 30/20.