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Demand Paper

Demand Paper

2003

Prof.

Operations Management / MGT554

University of Phoenix

Introduction
Product (service is also considered a product on this context) demand is an essential part of a business, this is the customer demand. To determine a business demand, forecasting tools are usually employed to obtain the desired information. "A forecast is a prediction of future events used for planning purposes" (Krajewski and Ritzman, 2001, p.174). The main idea behind determining the customer demand is then to plan. To plan the use of resources, the manufacturing schedule; also to determine the amount of resources or items to be manufactured. At the end we want to satisfy our customer needs or expectations with regard obtaining what they are looking for.
As might be expected on an offer/demand system, customers create tendencies for product demand. These tendencies occur as time series and can be grouped in five categories: horizontal, trend, seasonal, cyclical, and......


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Approximate Word Count: 981
Approximate Pages: 4 (250 words per double-spaced page)

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