Evaluate the purpose of forecasting and inventory management within operations management.
Forecasting is a realistic application of the scientific method towards future business requirements. This can be accomplished with both qualitative and quantitative methods. Inventory Management also connects to forecasting and is a key element of success within the supply chain and operations management professional areas of business.
Forecasting and Inventory Management support operations management efforts. However, you need to explore and evaluate these concepts more closely demonstrating knowledge of these real-world business concepts.
Directions
In this Assessment, you will compose and informative essay in which you specifically address the parts listed below.
Part 1: Examine the business concepts provided below:
Forecasting
Select a part of forecasting to evaluate based upon your prior reading in the eBook. Conduct online research to support your writing with credible sources. In particular, demonstrate your knowledge of how forecasting supports operations management efforts. Select one method of forecasting as presented in the eBook that you find potentially useful in your own career. Evaluate how you would apply it in a real-world business setting.
Inventory Management
Select a part of inventory management to evaluate based upon your prior reading in the eBook. Conduct online research to support your writing with credible sources. In particular, demonstrate your knowledge of how inventory management supports operations management efforts. Select one method of inventory management as presented in the eBook that you find potentially useful in your own career. Evaluate how you would apply it in a real-world business setting.
Part 2: Close your paper with the following observations from your research:
The importance of forecasting and inventory management within the context of operations management. Make sure you evaluate the purpose of forecasting and inventory management within operations management, as you close your paper, with skilled professional reflection and commentary.
Ensure each topic is covered to appropriate breadth and depth demonstrating knowledge of the module concept.
Minimum Submission Requirements
· This Assessment should be a separate Microsoft Word® document, preferably in the most current .docx file format.
· In addition to the APA 6th edition style title page and reference page; ensure your paper covers the assigned topics, with a focus on quality. The following items provide additional guidance as to writing expectations.
· Respond to the questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions. Your paper should be highly organized, logical, and focused.
· It must be written in Standard English; demonstrating exceptional content, organization, style, grammar, and mechanics.
· Your paper should provide a clearly established sustained viewpoint and purpose.
· Your writing should be well ordered, logical, and unified; as well as original and insightful.
· Ensure your paper uses APA 6th edition format for content, with properly indented paragraphs, and a minimum of 3-full pages (minimum 750 words) covering the assigned topics to appropriate depth.
· A separate page at the end of your research paper should contain a list of references, in APA 6th edition format. Use your textbook, the Library, and the internet for credible research.
· Ensure you have at a minimum three quality references supporting your work: defining words, or using dictionaries, wikis, or encyclopedias, does not count as a quality reference, or meet university standards for credible online research.
· Be sure to cite both in-text and reference list citations were appropriate and reference all sources. Your sources and content should follow proper APA 6th edition citation style. Review the APA formatting and citation style resources found in the Writing Center. The Writing Center can be found in the Academic Success Center in the Academic Tools area of your course. (It should include a cover sheet, paper is double-spaced, in Times New Roman 12-point font, correct citations, Standard English with no spelling or punctuation errors, and correct references at the bottom of the last page.)

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