List some of the operations and functions in a company that are dependent on a forecast for product demand.

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Answer 1

Textbook Question

Chapter 12, Problem 1Q

List some of the operations and functions in a company that are dependent on a forecast for product demand.

Expert Solution & Answer

Summary Introduction

To draw: The activities and functions in a business firm which are reliant on forecasting the demand for products.

Introduction

Forecasting is a technique in which predictions and assumptions are made concerning the future based on past and data available at present. The forecasting is mainly done by analyzing the trends. The forecasting concept can be used while taking planning decisions about the orders that will come from the side of the customer.

Explanation of Solution

The operations or activities in a business firm that relies on forecasting the demand are production planning like financial planning that includes the budget and expenditure related to capital, inventory processing, facility layout, number of workers required to do the expected production of products, and purchase of material comes under it.

The functions in a business firm that depends on forecasting the demand for products are marketing functions and production functions. The marketing surveys, expected customer orders, and market research are done to forecast the demand. The demand is forecasted for the products and accordingly, production is done to fulfill the customer’s demand.

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Answer 2

Textbook Question

Chapter 12, Problem 1Q

List some of the operations and functions in a company that are dependent on a forecast for product demand.

Expert Solution & Answer

Summary Introduction

To draw: The activities and functions in a business firm which are reliant on forecasting the demand for products.

Introduction

Forecasting is a technique in which predictions and assumptions are made concerning the future based on past and data available at present. The forecasting is mainly done by analyzing the trends. The forecasting concept can be used while taking planning decisions about the orders that will come from the side of the customer.

Explanation of Solution

The operations or activities in a business firm that relies on forecasting the demand are production planning like financial planning that includes the budget and expenditure related to capital, inventory processing, facility layout, number of workers required to do the expected production of products, and purchase of material comes under it.

The functions in a business firm that depends on forecasting the demand for products are marketing functions and production functions. The marketing surveys, expected customer orders, and market research are done to forecast the demand. The demand is forecasted for the products and accordingly, production is done to fulfill the customer’s demand.

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Answer 3

Textbook Question

Chapter 12, Problem 1Q

List some of the operations and functions in a company that are dependent on a forecast for product demand.

Expert Solution & Answer

Summary Introduction

To draw: The activities and functions in a business firm which are reliant on forecasting the demand for products.

Introduction

Forecasting is a technique in which predictions and assumptions are made concerning the future based on past and data available at present. The forecasting is mainly done by analyzing the trends. The forecasting concept can be used while taking planning decisions about the orders that will come from the side of the customer.

Explanation of Solution

The operations or activities in a business firm that relies on forecasting the demand are production planning like financial planning that includes the budget and expenditure related to capital, inventory processing, facility layout, number of workers required to do the expected production of products, and purchase of material comes under it.

The functions in a business firm that depends on forecasting the demand for products are marketing functions and production functions. The marketing surveys, expected customer orders, and market research are done to forecast the demand. The demand is forecasted for the products and accordingly, production is done to fulfill the customer’s demand.

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Answer 4

Textbook Question

Chapter 12, Problem 1Q

List some of the operations and functions in a company that are dependent on a forecast for product demand.

Expert Solution & Answer

Summary Introduction

To draw: The activities and functions in a business firm which are reliant on forecasting the demand for products.

Introduction

Forecasting is a technique in which predictions and assumptions are made concerning the future based on past and data available at present. The forecasting is mainly done by analyzing the trends. The forecasting concept can be used while taking planning decisions about the orders that will come from the side of the customer.

Explanation of Solution

The operations or activities in a business firm that relies on forecasting the demand are production planning like financial planning that includes the budget and expenditure related to capital, inventory processing, facility layout, number of workers required to do the expected production of products, and purchase of material comes under it.

The functions in a business firm that depends on forecasting the demand for products are marketing functions and production functions. The marketing surveys, expected customer orders, and market research are done to forecast the demand. The demand is forecasted for the products and accordingly, production is done to fulfill the customer’s demand.

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Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

Summary Introduction

To draw: The activities and functions in a business firm which are reliant on forecasting the demand for products.

Introduction

Forecasting is a technique in which predictions and assumptions are made concerning the future based on past and data available at present. The forecasting is mainly done by analyzing the trends. The forecasting concept can be used while taking planning decisions about the orders that will come from the side of the customer.

Explanation of Solution

The operations or activities in a business firm that relies on forecasting the demand are production planning like financial planning that includes the budget and expenditure related to capital, inventory processing, facility layout, number of workers required to do the expected production of products, and purchase of material comes under it.

The functions in a business firm that depends on forecasting the demand for products are marketing functions and production functions. The marketing surveys, expected customer orders, and market research are done to forecast the demand. The demand is forecasted for the products and accordingly, production is done to fulfill the customer’s demand.

Answer 8

Expert Solution & Answer

Summary Introduction

To draw: The activities and functions in a business firm which are reliant on forecasting the demand for products.

Introduction

Forecasting is a technique in which predictions and assumptions are made concerning the future based on past and data available at present. The forecasting is mainly done by analyzing the trends. The forecasting concept can be used while taking planning decisions about the orders that will come from the side of the customer.

Explanation of Solution

The operations or activities in a business firm that relies on forecasting the demand are production planning like financial planning that includes the budget and expenditure related to capital, inventory processing, facility layout, number of workers required to do the expected production of products, and purchase of material comes under it.

The functions in a business firm that depends on forecasting the demand for products are marketing functions and production functions. The marketing surveys, expected customer orders, and market research are done to forecast the demand. The demand is forecasted for the products and accordingly, production is done to fulfill the customer’s demand.

Answer 9

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Answer 10

Expert Solution & Answer

Answer 11

Summary Introduction

To draw: The activities and functions in a business firm which are reliant on forecasting the demand for products.

Introduction

Forecasting is a technique in which predictions and assumptions are made concerning the future based on past and data available at present. The forecasting is mainly done by analyzing the trends. The forecasting concept can be used while taking planning decisions about the orders that will come from the side of the customer.

Answer 12

Explanation of Solution

The operations or activities in a business firm that relies on forecasting the demand are production planning like financial planning that includes the budget and expenditure related to capital, inventory processing, facility layout, number of workers required to do the expected production of products, and purchase of material comes under it.

The functions in a business firm that depends on forecasting the demand for products are marketing functions and production functions. The marketing surveys, expected customer orders, and market research are done to forecast the demand. The demand is forecasted for the products and accordingly, production is done to fulfill the customer’s demand.

Answer 13

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List some of the operations and functions in a company that are dependent on a forecast for product demand.

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