To explain: If there is a difference concerning
Explanation of Solution
If there are no difference between the product developed and product sold in the market, there will be no difference for forecasting sales and forecasting demand. Demand of a product is the measure of the quantity of goods or any service required by the customers. Sales is the measure of amount of goods or any service actually acquired by the customers in the market.
Forecasting sales will accurately reflect the demand if all the customers have acquired the product or any service accurately. They will also have no stock outs. Forecasting demand can be done with the historical sales data if there are no stockouts or the historical sales data that are appropriately adjusted for stockouts.
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Chapter 10 Solutions
OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
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- Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage LearningMarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing