The document discusses operations management and forecasting techniques. It presents a case study of M&L Manufacturing, which makes printer and copier components. M&L does not currently use forecasting for production planning and has experienced being overstocked on some items and out of others. This has caused tensions with retailers. To address competitive pressures and falling profits, the manager decides to introduce formal forecasting to improve planning and inventory management. They will start forecasting two important products that account for large profits and future growth. After implementing forecasting techniques, the company was able to reduce its losses from $6 million to $1 million the next year.