I’m working on a management discussion question and need support to help me study.

Course Objectives:

• CO4: Examine methods for measuring forecast performance
• CO5: Investigate forecast performance utilizing spreadsheet techniques

Discussion Prompt:

In addition to reading your assigned resources for week 1, research each of the three topics regarding the organization you currently work for, or previously worked for:

1. From the viewpoint of your organization, discuss the concept of demand as it applies to your organization.
2. Next, choose a resource or activity that is forecast in your organization and address why achieving results significantly different than the forecast can be a potential problem for your organization.
3. How does (or should) your organization measure forecast accuracy? What would you do differently to improve forecast accuracy in your organization.