Explain forecasting methodologies, Operation Management

Assignment Help:

Question :

What are the common characteristics amongst the several forecasting methodologies / techniques?

The different techniques make a common assumption that what happened in the past will continue to happen in future.

  • Forecasts are never absolutely precise
  • Possible to get a more accurate forecast for a set of variables than for a single variable
  • Accuracy of forecasts is inversely proportional to the ‘time horizon'
  • Conclusion

Related Discussions:- Explain forecasting methodologies

Explain affirmative action, When it is claimed that people that ‘pay' for w...

When it is claimed that people that ‘pay' for wrongs are unfairly burdened and should not bear the responsibility for the acts of others, they are opposing to Answer reverse discri

Explain international union, Most day-to-day interaction between labour and...

Most day-to-day interaction between labour and management involves the: Answer (1) national union. (2) International union. (3) Industrial union. (4) Local union.

Explain what challenges does adam-woodford face, What challenges does Adam-...

What challenges does Adam-Woodford face as he develops his five year product roadmap?

Describe case studies with ethnographic research, 1. What benefits can be g...

1. What benefits can be gained from case studies? What dangers, if any, are there in using case studies? In what ways are they useful? Support your answers. 2. Provide some exam

What is long-term profitability goals, Discuss the strategic importance of ...

Discuss the strategic importance of layout decisions. How important as these decisions in terms of a company's long-term profitability goals? What are some examples?

Explain why are unions exploring new collaboration solutions, Why are union...

Why are unions exploring new collaboration solutions in the face of economic/work adversity, and how did Saturn's ambitious Quality of Work Life (QWL) program address these factors

Explain opportunities that have inspired change in business, Generate and d...

Generate and discuss examples of problems and opportunities that have inspired change in business today

Describe management implications of information technology, Briefly explain...

Briefly explain the management implications of information technology

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd