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A firm collects the following forecasted and actual demand for a certain part:
PeriodForecastActual
KI30311
22531
32826
42520
What is the absolute value of the forecast error?
At the beginning of each year, a large firm’s indirect procurement organization holds a brainstorming session. These sessions produce many great ideas and foster support among the procurement team. However, after a few years, support for the brainstorming sessions begins to diminish, and the projects discussed are pushed aside in order to deal with more pressing issues. In this situation, which of the following would be the BEST course of action to take?
An ERP purchasing module indicates a gross requirement of 100 units for part number A123. There is an open purchase order for 55 units. The item master for this supplier shows an order lot size of 30 units each. In this situation, how many units of this part will the exception report indicate should be ordered7