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Other Teaching and Training Material | 2013

Operations Management Reading: Forecasting

by Steven C. Wheelwright and Ann B. Winslow

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Abstract

This reading provides an introduction to forecasting methods. It includes a brief summary of methods based on judgment and a longer section on quantitative analysis. It also provides sample data so students can develop an understanding of concepts such as correlation, covariance, time-series data, moving averages, exponential smoothing, time-series decomposition, trend estimation, simple linear regression, autocorrelation, and multiple linear regression.

Interactive Illustrations in this Reading include: Distribution of Residuals, Moving Averages, Exponential Smoothing, Decomposition of Time Series Data, Correlation Coefficient, and Fitting a Regression Line. Review Questions and Exhibit Slides are available in the Supplemental Materials tab.

Language: English Format: Print Purchase

Citation:

Wheelwright, Steven C., and Ann B. Winslow. "Operations Management Reading: Forecasting." Core Curriculum Readings Series. Boston: Harvard Business Publishing 8042, 2013.

About the Author

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Steven C. Wheelwright
Edsel Bryant Ford Professor of Business Administration, Emeritus

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More from the Author

  • Other Teaching and Training Material | 2013

    Operations Management Reading: Forecasting

    Steven C. Wheelwright and Ann B. Winslow

    Citation:

    Wheelwright, Steven C., and Ann B. Winslow. "Operations Management Reading: Forecasting." Core Curriculum Readings Series. Harvard Business Publishing 8042HBH, 2013.  View Details
    CiteView Details
  • Case | HBS Case Collection | May 2011

    Baria Planning Solutions, Inc.: Fixing the Sales Process

    Steven C. Wheelwright and William Schmidt

    Baria Planning Solutions (BPS) is a consulting firm that specializes in using spend analysis to help companies identify savings through reduced procurement costs and improved supplier performance. Management is concerned about the disappointing performance of the sales team in attaining new clients and renewing existing ones. The Sales directors feel they do not get the help they need from Sales Support to close new deals, while the Sales Support directors believe they could provide better support by organizing into industry-specific divisions. The consulting industry is becoming increasingly competitive and inefficiencies in the sales process at BPS may interfere with the company's ability to win new business. The recently hired director of North American Sales Support must analyze the current process flow for Sales Support and identify the problems facing the sales organization. The president of the company has asked her to present a proposal for improving the performance of the entire group.

    Keywords: Quantitative analysis; technology; operations management; Product lines; manufacturing; capacity planning; Production Planning; Production; Management Practices and Processes; Service Operations; Supply Chain Management; Salesforce Management; Planning; Consulting Industry; North and Central America;

    Citation:

    Wheelwright, Steven C., and William Schmidt. "Baria Planning Solutions, Inc.: Fixing the Sales Process." Harvard Business School Brief Case 114-568, May 2011.  View Details
    CiteView DetailsEducatorsPurchase Related
  • Teaching Note | HBS Case Collection | May 2011

    Baria Planning Solutions, Inc.: Fixing the Sales Process (Brief Case)

    Steven C. Wheelwright and William Schmidt

    Teaching Note for 4568.

    Keywords: Quantitative analysis; technology; operations management; Product lines; manufacturing; capacity planning; Production Planning; Technology; Production; Mathematical Methods; Performance Capacity; Product Development; Planning; Manufacturing Industry;

    Citation:

    Wheelwright, Steven C., and William Schmidt. "Baria Planning Solutions, Inc.: Fixing the Sales Process (Brief Case)." Harvard Business School Teaching Note 114-569, May 2011.  View Details
    CiteView DetailsPurchase Related
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