Production and Operations Analysis, Seventh Edition
Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
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Chapter 2.4, Problem 8P
Summary Introduction

To explain: The meaning of the saying from an inventory control manager if the manager says that it is not his/her fault that the production units lacked, it is due to the wrong forecast of demand.

Introduction:Forecasting is the main function of predicting the future using the information available for decision making. It is a mechanism for planning decisions based on the predicted information.

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