Asked by
Caroline Marshall
on Oct 18, 2024
Verified
For pull processes,a manager must forecast what customer demand will be in order to plan the level of available capacity and inventory.
Pull Processes
A production strategy where products are only made in response to demand, minimizing inventory levels and reducing waste.
Customer Demand
The desire and willingness of consumers to purchase goods or services at a given price.
Available Capacity
The maximum amount of work or output that a system can produce or handle in a given period without additional resources.
- Familiarize yourself with the role that forecasting plays in strategic planning and operational decision-making processes within a supply chain.
Verified Answer
CS
Learning Objectives
- Familiarize yourself with the role that forecasting plays in strategic planning and operational decision-making processes within a supply chain.
Related questions
Forecasting and the Accompanying Managerial Decisions Are Extremely Difficult When ...
Production Can Utilize Forecasts to Make Decisions Concerning
The Forecast of Demand Forms the Basis for All Strategic ...
The Basis for All Strategic and Planning Decisions in a ...
When Either the Supply of Raw Materials or the Demand ...