Question 1
Within the Discussion Board area, write 400-500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.
Through improved financial strategies and data management, the supply chain of a company can improve their customer experience, business efficiencies and overall financial performance. By collecting data, improving customer intimacy, establishing financial strategies, and through the use of analytics, organizations can embark on new opportunities and stronger financial futures. Complete the following:
- Discuss why it is important for an organization’s supply chain to include the management of their data and financial strategies by answering the following questions:
- What types of supply chain tools help a company collect data? Please describe two types of tools.
- How does supply chain management help a company to improve efficiency and effectiveness?
- How does contract bidding improve a company’s financial outcome?
- Why is forecasting demand important?
Be sure to include your references, and format your submission in APA format.
Question 2
List some of the operations and functions in a company that are dependent on a forecast for product demand.
What is the difference between quantitative forecast methods and qualitative forecast methods?
Describe the difference between short- and long-range forecasts.
Discuss the role of forecasting in supply chain management.
13-1
Describe the difference between independent and dependent demand and give an example of each for a pizza restaurant such as Domino’s or Pizza Hut.
Distinguish between a fixed-order-quantity system and fixed-time-period system and give an example of each.
Discuss customer service level for an inventory system within the context of quality management
14-1
What is the purpose of sales and operations planning? Describe the S&OP process.
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List several alternatives for adjusting capacity. List several alternatives for managing demand.
Describe the output of aggregate planning. When is aggregate planning most useful?
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