Introduction
Forecasting is classified into four basic types: qualitative, time series analysis, causal relationships, and simulation. The decision on which to use is dependent upon the nature of the operation. Wal-Mart has set the standard in the retail industry by having one of the world’s largest cloud based data warehouse in existence today. However, even with large amounts of data and POS, or point of sale, data tracking forecasting is often impacted by economic, technological, natural disasters, suppliers, and labor issues. These issues must be identified and solutions developed in order to maintain the flow within the supply chain.
Read the Forecasting Supply Chain Demand – Starbucks Corporation case in your text Operations and Supply Chain Management on pages 484-485, then address the four questions associated with the Starbucks case on page 485.
You can use the Excel template
Download Excel template
to answer the questions or develop your own Excel spreadsheet.
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