- Understand the concept of process selection, forecasting, capacity planning, production forecast methods and schedule operations
(LO 1.2 & 1.3)
Case study: Besthomes, incforcasting
- Read the case study entitled “Best homes Inc forcasting” from the textbook (e-book), in the part VII.
- Answer the following questions.
- What forecasting methods should the company consider? Please justify.
- Use the classical decomposition method to forecast average demand for 2016 by month. What is your forecast of monthly average demand for 2016?