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The Essentials of Supply Chain Management: New Business Concepts and Applications by Hokey Min

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4. Demand Planning and Forecasting

“If a man gives no thought about what is distant, he will find sorrow near at hand.”

—Confucius

Learning Objectives

After reading this chapter, you should be able to:

• Understand various sources of demand and their impact on supply chain planning.

• Follow the steps involved in the demand management processes.

• Comprehend the differences among various types of forecasting methods

• Understand the underlying factors influencing the forecasting selection decision, and select the right forecasting method for a given organization and situation.

• Generate time series forecasts using exponential smoothing, moving average, and trend analyses.

• Recognize the connection between sales and operational planning and ...

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