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Question Title GDB No. 1 Question Description Production planning and inventory control (MGMT617) Fall 2021 last date 07 Dec

Total Marks 5
Starting Date Wednesday, December 01, 2021
Closing Date Tuesday, December 07, 2021
Status Open
Question Title GDB No. 1
Question Description

Production planning and inventory control (MGMT617)

Fall 2021

Total Marks: 5

Graded Discussion Board

Objective:

To evaluate the students if they can apply the concept of forecasting in a given hypothesized scenario:

Scenario:

The main objective of demand management is to produce a forecast. In any given environment, the forecasts are very important, and using those forecasts the plan is developed. Given that there are different methods of forecasts including subjective and objective methods, you are required to mention different subjective forecasting methods. Moreover, please state explicitly why “Sales force surveys and “Jury of experts “are not assumed ideal. If these two methods are not ideal, in your opinion what could be a possible way forward for an organization, pertinent to subjective forecasting and why?

The students are expected to come up with some solid reasoning and example to the given context.

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