Measuring Forecast Performance

In addition to reading your assigned resources for week 1(attached), research each of the three topics regarding the organization you currently work for, or previously worked for:

1. From the viewpoint of your organization, discuss the concept of demand as it applies to your organization.

2. Next, choose a resource or activity that is forecast in your organization and address why achieving results significantly different than the forecast can be a potential problem for your organization.

3. How does (or should) your organization measure forecast accuracy? What would you do differently to improve forecast accuracy in your organization?