Demand management and demand forecasting

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Reference no: EM132155549

1. Feedback is crucial for firms pursuing prospector business strategies. 1) True 2) False

2. The primary difference between demand management and demand forecasting is

1) forecasting is only possible when quantitative data are available.

2) demand management is proactive, while forecasting attempts to predict.

3) a firm cannot execute both approaches simultaneously.

4) one approach deals with uncertainty, while the other deals with known demand.

3. Based on the unique characteristics of your project, develop a change control process for addressing changes to the project scope and the project schedule, by describing:

The process and necessary documents for a stakeholder to request a scope change

The process the project team will use to assess the impact of the change to the scope and schedule

The process and the necessary documents the project manager will use to communicate the results of the team’s assessment of the impact to the sponsor and stakeholder

The process the project manager will use to record the outcome of the analysis and whether the requested change was accepted or rejected

4. An example of strategic planning is

1) deciding where to locate a new manufacturing plant.

2) forecasting next week's demand of a given product item.

3) targeting customer demand for aggregate product families.

4) setting inventory levels for a given product.

Reference no: EM132155549

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