Create a forecast for a situation

Reference no: EM132637932 , Length: Word count: 250

Demand forecasting results in an estimate of future demand and gives an organization a basis for planning and making sound business decisions. Since the future is unknown, it is expected that some errors between a forecast and actual demand will exist, so the goal of a good forecasting technique would be to minimize the difference between the forecast and the actual demand.

Question 1: Articulate the difference in short and long-term forecasts, forecasting techniques, and the benefits and challenges of each technique. Finally, create a forecast for a situation with which you are familiar (personal or professional) explaining the situation and why you chose the method of forecasting that you did

Reference no: EM132637932

Questions Cloud

What is Rio cost of goods manufactured for February : Rio applies manufacturing overhead to its products at a rate of 200% of direct labor cost. What is Rio's cost of goods manufactured for February

How important has cash generation for current company : How important has cash generation been for your current company or a prior employer? How is cash generation different from the concept of profit and loss

Explain the impact of each of these separate issues : Explain the impact of each of these separate issues on your assessment of audit risk, the materiality level and the audit strategy that would be adopted

Describe the personnel selection assessments you selected : Describe the personnel selection assessments you selected. Explain your rationale for the assessments selected based upon on their organizational benefits.

Create a forecast for a situation : Create a forecast for a situation with which you are familiar (personal or professional) explaining the situation and why you chose the method of forecasting

What was the book value per share at the end of last year : The company has a debt-to-equity ratio of 0.96 to 1 at the end of last year. What was the book value per share at the end of last year

Discuss one test bias in brief : Discuss one of the following kinds of test bias. Include in your discussion how a determination can be made regarding whether a test is being used in a fair.

Explain elements of total quality management : Explain the core beliefs of the just-in-time (JIT) philosophy. Explain the elements of total quality management (TGM) and their role in JIT

What is the Return on Investment : Earnings before interest and taxes 405,000 and Cash flow from operating activities 25,000. What is the ROI / Return on Investment

User Account

All Pages