MT435 Unit9Journal .docx MT-435

MT435 Unit9Journal .docx  MT-435                                                                       Unit 9 Journal                                                         MT435: Operations Management  Forecasting demand can be described as a business piece that affects how a company works. This is where decisions such as: planning, inventory, scheduling, purchasing, and distribution of demanded products are formulated. Forecasting demand should be done in an orderly fashion to ensure organizations have the appropriate amount of inventory needs on-hand. It also ensures any type of movements that need to take place, in order for the inventory to be at the standard demand, happens accordingly.  Forecasting accuracy is defined as the measuring of the accuracy of forecasting as it pertains to a customer ™s attention towards a particular item. It is also known for being uncertain which makes it more of a hopeful req