Define the five operations and supply chain processes

1. Define the five operations and supply chain processes. Discuss how each identified process can be applied to both a product and a service.

2. Explain the difference between an exponential smoothing forecasting model and a regression forecasting model. Explain the supply chain assumptions linked to each model why it is important to validate these assumptions prior to the use of either the exponential smoothing forecasting model and a regression forecasting model.

3. Link the concept of long, intermediate, and short-range planning to forecasting strategies. Explain how the determination of capacity requirements and a capacity cushion links forecasting strategies to the concept of long, intermediate, and short-range planning.

4. Explain the concept of sales and operations planning and link this concept to both capacity planning and forecasting. Use a specific example to support your answer to this question.