Operations Forecasting

Part 1: Operations Forecasting

Choose 3 quantitative elements from the company you selected in Competency 2, Part 1.

Develop forecasts by implementing the following approach:

1. Collect data, including old demand forecast (subjective data) and the actual demand outcomes.
2. Establish the forecasting method (from readings). Decide on the balance between subjective and objective data and look for trends and seasonality.
3. Forecast future demand using a forecasting method.
4. Make decisions based on step 3.
5. Measure the forecast error where applicable. Look for biases and improve the process.

Write a 525- to 700-word paper evaluating and summarizing the findings from the supported data points above. Insert the charts and supporting data from Excel and other tools in your paper

Part 2: Supply Chain Operations Plan

This assignment is part of the business plan you will create throughout the program. Use the company that you chose to work with within the second Competency Assessment of this course, which is the company you will use for your entire business plan.

Build a supply chain plan and diagram for the company by analyzing factors that affect the sourcing, logistics, metrics, suppliers, and risk.

Create your supply chain diagram using one of the following tools:

• Excel
• PowerPoint
• Visio
• PictoGram
• PDF
• Other faculty-approved platforms

Write an 875-word analysis of the supply chain operations plan. Include the following in your analysis:

• A visual depiction of your supply chain diagram
• Your supply chain plan
• Value chain and flow of the structure
• Inputs
• Outputs, including customer service structure
• Inventory points and forecasting
• Sourcing activities
• Risks
• Locations
• Logistics