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Supply Chain and Logistics Management Made Easy: Methods and Applications for Planning, Operations, Integration, Control and Improvement, and Network Design by Paul Myerson

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3. Demand Planning

It’s only been in the past 20 years or so that businesses have truly come to realize the importance of forecasting. If you think about it, forecasting is usually the first step in the planning and scheduling process for most goods and service organizations, and forecasts for demand drive everything in an organization: from longer-term decisions (3+ years out) as to new facilities and products, to medium-term decisions (months to years out) such as production planning and budgeting, and the short-term (months to a year at most), where we need to know what to produce (or purchase) and deploy (see Figure 3.1).

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Figure 3.1 Typical ...

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