Is there a difference between forecasting demand and forecasting sales.

Operation Management

 

Is there a difference between forecasting demand and forecasting sales.

 

Answer the following question.

Q1. Is there a difference between forecasting demand and forecasting sales. (10 marks)

Q2. What is ISO9000 Series Standards? List key quality awards. (10 marks)

Q3. Describe briefly the steps to develop a forecasting system. (10 marks)

Q4. List four basic operations strategies. (10 marks)

Q5. What factors distinguish between production and service operations? (10 marks)

Q6.Ahmet grows domatoes in his 100 by 100 meters garden. He then sells the crop at the local farmer’s market. Two summers ago, he was able to produce and sell 1200 kgs of tomatoes. Last summer, he tried a new fertilizer that promised a 20% increase in yield. He harvested 1350 kgs. Did the fertilizer live up to its promise. (10 marks)

Q7. Magusa Metal Works produces cast bronze valves on an assembly line. On a recent day, 160 valves were produced during an 8hour shift. Calculate the productivity of the line. (10 marks)

Q8. What do you see as the main problem with qualitative (judgmental) forecasts? Are they ever better than “objective” methods. (10 marks)

Is there a difference between forecasting demand and forecasting sales.

 

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