Operations Management: Processes and Supply Chains (11th Edition)
Operations Management: Processes and Supply Chains (11th Edition)
11th Edition
ISBN: 9780133872132
Author: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
Publisher: PEARSON
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Chapter 8, Problem 2VC
Summary Introduction

Interpretation: The type of Information technology utilized in the forecasting process including the maintenance of inventory levels and for the projection of future inventory requirements is to be determined.

Concept Introduction: The forecasting process needs to work on the previous demand patterns and existing inventory levels. The system has to derive from these how much to produce (forecast) and to work out as to how much inventory is likely to be maintained in the future. All this needs a lot of data processing and is done effectively by information technology.

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Operations Management: Processes and Supply Chains (11th Edition)

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Introduction to Forecasting; Author: Ekeeda;https://www.youtube.com/watch?v=5eIbVXrJL7k;License: Standard YouTube License, CC-BY