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The art and science of making projections about what future demand and conditions will be is
A) supply chain coordination.
B) forecasting.
C) aggregate planning.
D) revenue management.
Forecasting
The process of making predictions about future events or trends based on historical data analysis or model projections.
Future Demand
The anticipated need or desire for products or services in an upcoming period, based on trends, historical data, and forecasting models.
Conditions
The existing circumstances or state of affairs surrounding a situation or the terms affecting agreements and contracts.
- Understand the significance of forecasting and aggregate planning in the administration of supply chain operations.
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Learning Objectives
- Understand the significance of forecasting and aggregate planning in the administration of supply chain operations.
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