1. Please describe a scenario that you have encountered
recently as a consumer where a business has either under forecast
or over forecast demand for a product that you were planning to
purchase. You will generally notice under forecasting if the
product is out of stock or over forecasting if there is excess
inventory for the item. Please describe the implications to
the retailer, manufacturer, and broader supply chain. You can
present your response through the lens of your own discipline
(accounting, marketing, etc.) if you wish.
2. Give three examples from your life in which you
may forecast the future. Highlight the importance of accurate
forecasting in the three examples you provide.