Question: What role does technology play in improving demand forecasting in manufacturing industries and what are some potential risks of over - relying on forecasting technology?

What role does technology play in improving demand forecasting in manufacturing industries and what are some potential risks of over-relying on forecasting technology?
[5 Marks]
What role does technology play in improving

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

A force P is applied to a bent rod which is supported by a roller and a pin and bracket. For each of the three cases shown, determine the internal forces at point J. D. Fig. P7.21

Q:

10 Questions on Operations Management: What is the role of operations management in achieving organizational goals? How can businesses effectively balance cost, quality, and speed in their...

Q:

Case Study: Blue Ocean Electronics - Navigating the Currents of Change Background: Founded in 1 9 8 5 , Blue Ocean Electronics has grown from a small startup into a global leader in consumer...

Q:

Case Study: Blue Ocean Electronics - Navigating the Currents of Change Background: Founded in 1 9 8 5 , Blue Ocean Electronics has grown from a small startup into a global leader in consumer...

Q:

Questions: 1 . Operations and Productivity: Analyze how Blue Ocean Electronics can enhance its operational productivity in the face of fierce market competition. 2 . Global Strategy and Environment:...

Q:

Questions: 1 . Operations and Productivity: Analyze how Blue Ocean Electronics can enhance its operational productivity in the face of fierce market competition. 2 . Global Strategy and Environment:...

Q:

Internal Assessment: Financial Performance and Future Financial Capacity(FIND REFERENCES BELOW) Please help, make an overall assessment of the financial performance of the organization and indicate...

Q:

Question 1 How would you describe the nature of the strategic IT decision-making process at PHARMA described in this paper? Is it analytical, intuitive or political? Justify your answer. Question 2...

Q:

I want you to summerize these 7 items. !Please be different from other answers! !Please get a little quick! Thanks. You should summarize the 7 items in the photo. Max 125 words! reading 1....

Q:

In two or three paragraphs, make a Conclusion from the presentation below A. Recap of Key Findings B. Importance of Effective Communication for Food Basics. C. Future Directions for Research....

Q:

Using the Annual Report of your selected company answer the following questions in the Discussion: What is the value of the company's inventory at year end? What was the amount of cost of goods sold...

Q:

Using the isothermal transformation diagram for an iron-carbon alloy of eutectoid composition (Figure 10.22), specify the nature of the final microstructure (in terms of micro constituents present...

Q:

3) Which of the following is true of the life cycle of mosses? A) Antheridia and archegonia are produced by gametophytes. gnilwo B) The sporophyte generation is dominant.omsgstm C) The gametophyte...

Q:

*E15.31 (LO 6) (Share-Appreciation Rights) Dominquez SA establishes a share-appreciation rights program that entitles its new president Dan Scott to receive cash for the difference between the market...

Q:

Read the articles on journaling and review the template provided. Identify what approach, to journaling, in the articles you found useful and why. Post to the discussion forum that you have reviewed...