In supply chain management, the quality of the forecast can be improved by using information from?
Understand the Problem
The question is asking how to enhance the accuracy of forecasts in supply chain management through the use of specific information sources.
Answer
The quality of the forecast can be improved by using information from upstream partners, downstream partners, and the focal firm.
The quality of the forecast in supply chain management can be improved by using information from upstream partners, downstream partners, and the focal firm.
Answer for screen readers
The quality of the forecast in supply chain management can be improved by using information from upstream partners, downstream partners, and the focal firm.
More Information
Integrating information across the supply chain, including from upstream suppliers, downstream customers, and internal data (the focal firm), helps improve the accuracy and reliability of forecasts by providing a complete view of factors affecting supply and demand.
Tips
A common mistake is to focus solely on internal data without considering external factors from both suppliers (upstream) and customers (downstream), which are crucial for accurate forecasting.
Sources
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