Prompt: In the article “6 Types of Demand Forecasting” by the Fulfillment Lab https://www.thefulfillmentlab.com/blog/demand-forecasting and Chapter 14 of your textbook (pp. 403-418), the importance of demand forecasting is discussed. According to the article, “Demand forecasting is the process of understanding and predicting customer demand in order to make smart decisions about supply chain operations, profit margins, cash flow, capital expenditures, capacity planning, and more.” If forecasting is so important to predicting customer demand, describe how
you will choose the right forecasting techniques and which ones you plan to use. Here is an article by Harvard Business Review entitled “How to Choose the Right Forecasting Technique” to help you think more about forecasting techniques: https://hbr.org/1971/07/how-to-choose-the-right-forecasting-technique
