Forecasting in the Supply Chain Environment

  • David Frederick Ross

Abstract

Much of the success of enterprise planning and decision-making processes depends on the formulation of accurate forecasts. Although it has often been said that nothing happens until a company receives a customer order, unless the enterprise has developed sound plans that enable it to purchase the proper inventory, establish the necessary supply channels, and deliver goods on a competitive basis, the business cannot possibly hope to achieve corporate objectives. In addition, forecasting permits firms to establish performance measurements for customer service, plan the level of total inventory investment, choose between alternative operating strategies, and develop assumptions about the ability of the business to respond to the future needs of the marketplace.

References

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Copyright information

© Springer Science+Business Media New York 2015

Authors and Affiliations

  • David Frederick Ross
    • 1
  1. 1.APICSChicagoUSA

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