Problem
I. In most cases in which a logistics network is already in place, a decision must be made either to modify the existing network or to allow it to continue to operate, even though it may not be an optimal design. This is especially true when it comes to managing inventory items and levels.
a. List and discuss three things that would encourage you to make a system appraisal to see if things could and should be improved.
b. Explain how a change in these areas could cause a change in your inventory policy.
II. Forecasts are an important part of an inventory strategy. Maximum two pages typed.
a. Explain what a forecast is.
b. What types of forecasting techniques exist and where each can be used?
c. What types of demand can impact a forecast, and how?