Forecasting is only possible when quantitative data are available.
Demand management is proactive, while forecasting attempts to predict.
A firm cannot execute both approaches simultaneously.
One approach deals with uncertainty, while the other deals with known demand.
To direct day-to-day operations in a manufacturing plant.
To determine plans for employee overtime.
To decide whether or not to close a manufacturing plant.
To determine plans for hiring or laying off employees.
All answers are correct.
Seasonality and cycles