Forecasting is a critical step in inventory management

Assignment Help Operation Management

Reference no: EM131034686

Forecasting is a critical step in inventory management. However, forecasting accuracy can vary significantly depending upon the demand type like random demand, demand with trend and seasonality, intermittent demand, demand lumpiness, etc. Specially, forecasting intermittent demand has gained a lot of attention in recent years. Your assignment is to define demand intermittency, describe how you classify demands in your company, and present a roadmap for forecasting such intermittent demand items for your company or another organization

Reference no: EM131034686

Questions Cloud

Problem regarding the strategy formulation process : Strategy is used to achieve a certain desire. Different strategy types, when utilized, produce specific outcomes. What four types of strategy make up the strategy formulation process?

Changes in the workforce or employee needs : What changes in the workforce or employee needs caused the company to adapt? What did the company do to respond to those changes? Was the company's response voluntary or legally mandated?

Musical instrumental manufacturing-what do data flow diagram : Up to this point you seem to have had excellent rapport with Kevin Cahoon the owner of a musical instrumental manufacturing company. It takes some effort to educate users about data flow diagrams. Is it worthwhile to share them with users? Why or why..

Discuss the concepts of equality : You are required to discuss the concepts of equality, effectiveness and efficiencyin relation to a healthcare system that is founded on equity. You will also need to discuss any interrelationships that may exist between the three concepts.

Forecasting is a critical step in inventory management : Forecasting is a critical step in inventory management. However, forecasting accuracy can vary significantly depending upon the demand type like random demand, demand with trend and seasonality, intermittent demand, demand lumpiness, etc. Your assign..

How variation occur in asexually versus sexually reproducing : Compare how variations occur in asexually versus sexually reproducing organisms. Note what all protist groups have in common, then differentiate between feeding and living habits of the different groups.

Offensive-defensive strategy : Joseph Dawson's article "Jefferson Davis and the Confederacy's "Offensive-Defensive" Strategy in the US Civil War" What are the key elements of Davis' "Offensive-Defensive" strategy? Why does Davis choose this strategy?

Leverage the topic to create a more effective organization : Select a specific topic that aligns with one of the following topics ethics, sustainability, or stakeholder topic of your choice. Research and present the topic and then discuss ways a company with which you are familiar can leverage the topic to cre..

Variables are used for short-range-long-range forecasting : Select one industry from the list below: Bank, restaurant, health clinic/hospital, airline, or university. What specific variables would be needed by that organization in order to forecast? Be sure you explain why you selected each variable and why i..

User Account

All Pages