Answer the following questions thoroughly. Extend your thinking beyond the basic question if you need to the achieve the requirements. Single spaced, typed, only one double space between questions, no need to retype the question, 2+ pages of answers.
1) Discuss the consequences of poor forecasts.
2) Compare the term sales with the term demand.
3) What do you see as the main advantages of quantitative techniques over qualitative techniques of forecasting? Discuss the limitations as well that you think may result from using quantitative techniques.
4) Think of several products and the companies/industries that make them. Discuss your perception of their potential internal demand drivers and then their potential external demand drivers.
5) Briefly describe the bullwhip effect, and why does it occur? We have just begun class and haven’t covered many concepts as yet, however, speculate on how you think the bullwhip effect can be overcome or managed. Feel free to “google” the concept. WARNING: put any answer in your own words, DO NOT copy and paste………… as the SAFE ASSIGN tool will pick up any of such.
