How is the sales and operations planning process similar to the forecasting process?
What will be an ideal response?
Sales and operations planning is presented as a six-step cyclical process consisting of gathering data, demand planning, updating S&OP spreadsheets, consensus meetings, executive S&OP meeting, and finalize and communicate, with this sixth step feeding back into the first (data gathering) step. The process is cyclical because S&OP is done with a time horizon that permits refinement of plans as time progresses Demand forecasts, customer orders, capacity, and materials prices and availability that have been projected several months in advance may change over time and in time for the production planners to take action. The forecasting process discussed in chapter 13 is also cyclical; forecasts for several months in the future can be refined as the target time period draws near and more is learned about the forecasting arena. Both processes are data driven and quantitative in nature, with the output subject to adjustment by the manager/decision-maker responsible for implementation.
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a. approve attendance time data and job time data b. distribute labor costs c. independent paycheck distribution d. use payroll clearing account
U.S. citizens invested $10 billion in foreign securities during a certain year and $21 billion in acquiring capital goods in foreign countries while foreigners invested only $27.5 billion in U.S. during that year. The net foreign investment of U.S. during that year was _____.
A. -$3.5 billion. B. -$58.5 billion. C. $1.2 billion. D. $3.5 billion.
________ are data collected for some purpose other than the problem at hand
A) Primary data B) Secondary data C) Virtual data D) Observational data E) Research data
Use this information to answer the following question. Oct. 1 Inventory 200 units @ $12.00 6 Purchase 300 units @ $13.20 13 Purchase 100 units @ $14.40 20 Purchase 200 units @ $15.60 25 Purchase 40 units @ $16.80 Total sales 620 units A periodic inventory system is used. Using FIFO, the cost assigned to ending inventory is
A) $8,112. B) $2,664. C) $3,480. D) $8,928.