Main advantages that quantitative techniques for forecasting

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Reference no: EM132279655

1. Discuss the main advantages that quantitative techniques for forecasting have over qualitative techniques. Moreover, discuss the limitations of the quantitative techniques as well.

2. Why are forecasts generally wrong?

3. How accurate is your local five-day weather forecast? Support your answer with actual data.

4. Contrast the terms sales and demand.

5. Contrast and provide examples for the reactive and proactive approaches to forecasting.

6. How is forecasting in the context of a supply chain different from forecasting for just a single organization? Lists possible supply chain benefits and discuss potential difficulties in doing supply chain forecasting.

7. Which type of forecasting approach, qualitative or quantitative, is better?

Reference no: EM132279655

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