Students are to create a plan to forecast the amount and type of raw materials needed in the upcoming quarter $($Spring$,$ Summer, Fall or Winter$).$ The key is to provide details on how you want the staff to determine the needed raw materials for Kibby and Strand in the quarter.$$ You need to explicitly describe the data and quantitative methods you want the staff to use to derive and apply for this forecast plan.$$ Be sure you include any trends or seasonality of the data in the plan. The plan should include the forecasting objectives. Identify at least two advantages and two disadvantages of the chosen forecasting method.$$ Also, identify problems we may encounter by collecting the necessary data for the forecast. This plan will be utilized by the receiving department to ensure we can accommodate the raw material, the production department to ensure we have the resources needed, and to provide shipping with an idea of its workload in future months.

Your target audience for the forecasting plan is the manager of each department.$$ Other departments such as HR and Marketing will also use the plan to inform their decision process.

Note: The term "plan" in operational management is often referred to by different names such as: Standard Operating Procedures $($SOPs$),$ checklists, standing orders, process$$steps$,$ etc. They are all the same thing, a detailed document directing the staff on what to do and how to do it$.$ Here is a good overview of SOPs that you will find helpful.$$ If you're looking for a "canned" template for a forecasting plan you are not likely to find one.$$ Take the guidance in this resource, and research, then formulate your forecasting plan.

How to Write Standard Operating Procedures: Experts Provide Tips and Free Templates

This forecasting plan should be prepared as a single Microsoft Word document,$$and then attached to the unit discussion thread. There is no minimum or maximum in terms of the word count; however, the response should explicitly address all required components of this discussion assignment. The document should be prepared consistent with the APA writing style and reflect higher$-$level cognitive processing $($analysis$,$ synthesis, and or evaluation$).$

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