How would you use such forecasts to plan future purchases

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Reference no: EM133359284

Assignment:

The Nuts'n'Bolts hardware store stocks some high-value items and a large number of relatively low-value components. Inventory is reviewed weekly, and orders are placed with suppliers when inventory levels indicate that current levels are "too low." Most suppliers deliver the low-value items within two weeks; some of the high-value items may take four weeks for delivery. How would you develop a forecasting system to predict the sales of such items at the individual SKU (Stock Keeping Unit) level? How would you use such forecasts to plan future purchases?

Reference no: EM133359284

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