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Fundamentals of Operations Management, 4/e
Mark M. Davis, Bentley College
Nicholas J. Aquilano, University of Arizona
Richard B. Chase, USC, School of Business

Forecasting

Chapter Objectives

  • Introduce the basic concepts of forecasting and its importance within an organization.
  • Identify several of the more common forecasting methods and how they can improve the performance of both manufacturing and service operations.
  • Provide a framework for understanding how forecasts are developed.
  • Demonstrate that errors exist in all forecasts and show how to measure and assess these errors.
  • Discuss some of the software programs that are available for developing forecasting models.




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