MAN203 Supply Chain Management (SCM) : Assignment

   

Added on  2020-05-11

9 Pages2140 Words80 Views
Running head: SCM0SUPPLY CHAINMANAGEMENT
MAN203 Supply Chain Management (SCM) : Assignment_1
SCM1Table of ContentsSection 1:.....................................................................................................................................................1Section 2:.....................................................................................................................................................4Section 3:.....................................................................................................................................................5References:..................................................................................................................................................6
MAN203 Supply Chain Management (SCM) : Assignment_2
SCM2Section 1:Answer 1:a.Forecasting is the process of assuming things for future. It is the techniques that are usedby the businesses to analyse the current situation to make future prediction aboutdifferent things. As far as the supply chain management is concerned, it has beenanalysed that forecasting is the process that is used by the managers of supply chainsystem of the company in order to have make predictions about the demand of theproducts so that they can make decision of their production (Chaabane, Ramudhin andPaquet, 2011). It is very necessary to forecast the demand of the products because it is thebasis of setting the production target for the manufacturer (Christopher, 2016). It notonly helps in predicting the demands but indirectly enhances the customer satisfactionbecause the availability of the products in the market area as per the demands of thecustomers. For instance, most of the companies like IKEA analyse the market and makethe target so that they can deliver the products on time.b.Following are three types of forecasting that are commonly observed in supply chainmanagement of the company:DemandSupply PriceDemand forecasting deals with making assumptions about the demand of the products asper the market situations (Mangan and Lalwani, 2016). Supply forecasting is aboutmaking the prediction about the amount of supply and the last is about price forecastingthat is used in order to choose the providing strategy of the product. c.There are various requirements for making the forecasting decisions. The first and theforemost requirement is effective and skilled manager at the supply chain division of thecompany. Skilled manager can enhance the capability of the firm to forecast as he has theknowledge about the market (Rushton, Croucher, and Baker, 2014). Another requirementor the factors that can hence the forecasting capability of the company are financialcapability of the company and the tools used to analyse the market. This is because if
MAN203 Supply Chain Management (SCM) : Assignment_3

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