Description Week 2 Discussion: What is Demand-Driven Forecasting? Discussion Prompt: In additio ...
Description Week 2 Discussion: What is Demand-Driven Forecasting? Discussion Prompt: In addition to reading your assigned resources for week 2, you have some research to complete for this week's discussion: Research online for an authoritative (expert) resource that helps you to answer a very simple question: What are the basic differences between supply-driven and demand-driven forecasting.Before posting, check any other student postings and try to not duplicate the resource they have used. Start your Discussion by inserting a hyperlink for your resource (Note - To insert a hyperlink, type in a one- or two-word phrase that introduces the resource, highlight it, then click on the small Chain-link in the navigation panel above and insert a copy of the URL Address for the resource) Next, directly under the hyperlink, author a paragraph discussing what you learned about the differences between supply- and demand-driven forecasting and any points that may have been either additive to or different from the lesson reading assignments. The final task for this discussion is to briefly summarize what you have learned that you wish to pass on to the rest of us in the course that identifies the primary difference between supply-driven and demand-driven forecasting. Week 3 Discussion: Demand-Driven Forecasting Methods Discussion Prompt: Looking at the organization for which you work, describe how forecasting demand is facilitated and what is being forecasted.Help us all also understand what forecasting factors (variables) affect the accuracy of forecasting and what factors (variables) cause errors.If it helps deepen your understanding, talk to someone in your organization who is involved in forecasting demand, requirements, or materials.Search out what improves the accuracy of the forecasting model used and what detracts from accuracy.This week, let's educate each other regarding forecasting models used, causes for error, and what predictability factors re important to the accuracy of your organization's forecasting efforts.Dig deep and let's help each other understand how forecasting works in the real world. Finally, in a short two or three sentence summaries, assess the quality of the forecasting models in your organization.Also address what could be done to improve forecasting. Week 4 Discussion: Measuring Forecast Performance 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: From the viewpoint of your organization, discuss the concept of demand as it applies to your organization. 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. How does (or should) your organization measure forecast accuracy? What would you do differently to improve forecast accuracy in your organization. Week 5 Discussion: Forecasting Methods for Time-Series Data Discussion Prompt: After carefully reading Chapter 5 in your textbook and reviewing the additional resources in the Content area of the classroom, think about forecasting using Time-series Data in your organization. Address the three subjects below: # 1 What are the various ways a forecast can go wrong using historic data to predict future requirements, resources, or customer demands? # 2 What statistical methods are used to "sense demand signals, shape demand, and forecast demand" (Chase, p. 126). # 3 What time-series data is used to forecast future demand for products, services, or activities in your organization? From your experience, how accurate is the time-series data that is used to forecast and how accurate are the forecasts? Week 6 Discussion: Regression Analysis Forecasting Discussion Prompt: Find one authoritative resource in the form of a YouTube video or Website that explains the use of regression analysis as a prediction model for forecasting. Try not to duplicate a resource already posted by another student.Insert a hyperlink for that resource so others may access it quickly. Finally, provide an explanation of what you learned from the resource that strengthened your understanding of using regression analysis for forecasting. Week 7 Discussion: Forecasting for New Products Discussion Prompt: For this Discussion, begin by choosing a company that supplies a product line you respect and use.Start with a (very) brief definition of the company, the product offering, and what factors cause you to respect the product.Next, come up with a new product that you believe this company should consider offering.You may choose either a revolutionary or evolutionary product (look for the definitions of these in Chapter 10 of your textbook).Then, based on your learning in chapter 10 of the textbook, describe the steps you would take to develop the framework for a demand model for the product. W8: Strategic Value Assessment of Demand Forecasting Effectiveness Discussion Prompt: As this is both the final week and the Finals week, your discussion assignment this week is both simple and important.Please take a shot at answering the following questions: # 1 What subject that you studied over the past seven weeks was most interesting to you or most applicable to your current job? # 2 Propose a new discussion topic you think future students would find interesting. # 3 Which homework assignment did you find to be the most challenging? # 4 What would you change in the class lesson materials that would aid learning for future students?
