Forecasting in the Service Sector
Forecasting in the service sector presents some unusual challenges. A major technique in the retail sector is tracking demand by maintaining good short-term records. For instance, a barbershop catering to men expects peak flows on Fridays and Saturdays. Indeed, most barbershops are closed on Sunday and Monday, and many call in extra help on Friday and Saturday. A downtown restaurant, on the other hand, may need to track conventions and holidays for effective short-term forecasting.
Student Tip 
Forecasting at McDonald’s, FedEx, and Walmart is as important and complex as it is for manufacturers such as Toyota and ...
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