Engineering Unforecasted Demands: Certain Goal, A Perfect Plan (Coursework Sample)
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Planning is the process by which one thinks about an idea that is essential in determining and achieving a certain goal. A perfect plan consist of the schedules, tasks to be accomplished, resource allocations and how to accomplish the specified tasks. On the other hand unforecasted demands are customer demands that are not estimated during an expectation process.
The planning process generally helps an organization to be able to come up with samples of activities they expect to occur in the coming days. Predicting demand in an organization does not mean necessarily that it will happen the same way it was predicted. This therefore vividly shows that success is not guaranteed in an organization just because forecasting was done however success of an organization mostly comes as a result of how a company is able to manage the unexpected demands(Schwartz et al 2009). This demands are mostly seasonal or emergencies.Unforecasted demands are handled in different ways mostly depending with the type of product or service a company deals with. The most common ways include:
The use of analytical techniques which requires little accuracy this technique enables an organization to analyze the specific problem depending with the facts presented or the current status also considering the effects to the company and the customers at large, then accurately come out with several alternatives of how to counter the problem. When dealing with a highly complex situation the simple statistical model are always advisable as compared to more detailed models. This is because a detailed model will fit to the past data collected however it cannot give accurate results concerning what might happen afterwards or what ought to be rightfully done in the present(Strbac, 2008).
Preparation of multiple outcomes is another key method of handling unpredictable events, in that an organization puts less efforts in trying to come up with one right guess on what is likely to happen and how they will counter the demand problem. In
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