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Role of Forecasting

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1. What is the role of forecasting in achieving the desired customer service desired and the appropriate level of inventory?

2. What is necessary to be able to forecast appropriately?

Please use peer-reviewed articles and books to support your 200-300 word response. Use APA 5thedition guidelines for in-text citations and the reference

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The response addresses the queries posted in 1424 words with references.

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The response addresses the queries posted in 398 words with references.

//As per the directions, we will write about the role of forecasting in achieving the desired customer service and the appropriate level of inventory. Then, we will write about the 'Importance of Forecasting' appropriately. It will assist in understanding the rationale of forecasting and necessity of forecasting in attaining desired level of customer service and inventory.//

The process of estimation in unidentified circumstances is forecasting. In every day business forecasting for manufacturing companies, forecasting has evolved into the practice of demand planning. Sometimes supply chain forecasting is also understood as the discipline of demand ...

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Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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