Forecasts, budgets, staffing and metrics are elements typically included within a supply management department's

Definitions:An operating plan is a detailed plan outlining how a department will achieve its goals and objectives within a specified period, typically a year. It includes forecasts, budgets, staffing, and metrics.

Components:

Forecasts:Predict future trends, demand, and needs.

Budgets:Allocate financial resources to different activities.

Staffing:Plan human resource needs and assignments.

Metrics:Define key performance indicators to measure progress and success.

Purpose:The operating plan provides a clear roadmap for daily operations and ensures alignment with the overall strategic plan.

References:According to the APICS (American Production and Inventory Control Society) and CIPS (Chartered Institute of Procurement & Supply), an operating plan is critical for effective supply management.