Understand the Objective of Forecasting

The objective of every forecast is to support decsions that are based on the forecast, so an important first step is to clearly identify these decisions. Examples of such decisions include how much of a particular product to make, how much to inventory, and how much to order. All parties affected by a supply chain decision should be aware of the link between the decision and the forecast. Failure to make these decisions jointly may result to either too much or too little product in various stages of the supply chain.

My Consultancy–Asif J. Mir - Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight

About these ads

2 Comments (+add yours?)

  1. Like it
    Aug 05, 2011 @ 06:41:57

    Ur site is very ok to my likely

    Reply

  2. Am so happy for you thax
    Aug 30, 2011 @ 09:31:39

    Be blessed one love

    Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 46 other followers

%d bloggers like this: