Because Home-Style does not use preservatives in their cookies, shelf life is an issue. Therefore, Home-Style runs small batches of cookies in order to meet demand but not have excess inventory. The production team schedules batches of chocolate chip cookies every three days. They adjust the number of cookies per production run in order to meet projected demand. For a standard run of 2,000 chocolate chip cookies, they use: 19 cups all-purpose flour 7 teaspoons salt 7 teaspoons baking powder 7 teaspoons baking soda 17 sticks unsalted butter, softened 12 cups packed dark brown sugar 1 3/4 cup granulated sugar 14 large eggs 14 teaspoons vanilla extract 14 cups semisweet chocolate chips Which ingredients are the most perishable and would need to be ordered more frequently? What could the operations manager do to minimize the reorder lead time for these in-demand perishable ingredients? What could Home-Style do to ensure all cookies are sold before their 3-day shelf life expires? What could Home-Style do with cookies after their 3-day shelf life?

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.