Description
attached is a word document with business terms to be answered regarding the following
nForecasting
nCapacity Planning
nScheduling
nInventory Management
nQuality Assurance
nFacilities Location and Design
Unformatted Attachment Preview
Purchase answer to see full attachment
Explanation & Answer
Attached.
Forecasting is the use of various methods in order to be able to estimate the future outlook of any
business which can be either long term or short term by analyzing the past data. Forecasting is
very important for all departments in any organization. It uses both qualitative and quantitative
methods. In quantitative method, observation is done at regular intervals whereas in qualitative
method, estimates are done on the basis of one’s judgement and opinion. Therefore, through
forecasting, businesses are able to obtain vital information which is necessary for any future
planning and satisfying customer needs while remaining competitive at the same time.
Capacity planning is invention of an approach to enable one to determine the resources which are
needed for production of an output within a given period of time. For there to be effective planning,
decisions must be made from the demand and supply chain, and also by analyzing the
organization’s financial and hu...
Review
Review
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Similar Content
Related Tags
A Passage to India
by E. M. Forster
The Prince
by Niccolò Machiavelli
The Jade Peony
by Wayson Choy
Little Fires Everywhere
by Celeste Ng
Moby Dick
by Herman Melville
The Eyes Were Watching God
by Zora Neale Hurston
Normal People
by Sally Rooney
Epic of Gilgamesh
by Unknown
100 Side Hustles
by Chris Guillebeau