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Chapter 7 – Role of Forecasting in Global Logistics and Supply Chains

Please view the following videos: 

Forecasting and Supply Chain | Valentina Carbone:

https://www.youtube.com/watch?v=Utq5l0y1zD0

Forecasting is Number 1 for Demand Solutions:

https://www.youtube.com/watch?v=1J4gO2V7N9Y&list=PLC8990CD496DFE544

Based on the following questions, submit a 600 word individual discussion post (200 words per discussion question).

1.  What is the role of forecasting in demand management and how that can lead to further improvements?

2.  What are the main characteristics of forecasts? Explain.

3.  Differentiate between long- medium- and short-term forecasting. Why are all three of these forecasting measures imperative to the supply chain?

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