Forecasting is the art and science of predicting future events. Organizations are constantly creating forecasts for different uses within the organization. Besides setting production levels, what are some other uses of forecasts within the organization?
When an organization forecasts independent demand, it has the opportunity to take either an active role to influence demand or take a passive role and simply respond to demand.
In your opinion, under what circumstances would an organization choose to take an active or a passive role? Why? What strategies would supermarkets, airlines, hospitals, banks, and cereal manufacturers use to influence demand? Provide specific examples demonstrating why these organizations would choose such a strategy.
Justify your answers with appropriate reasoning. Comment on the postings of at least two peers.
This is the answer.