Importance of demand forecast, Managerial Economics

Assignment Help:

Management Decisions: An effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like plant capacity, raw-material requisites, space and building requirements as well as availability of labour and capital. Manufacturing schedules can be drafted in compliance with the demand requisites; in this manner cutting down on the inventory, production and other related costs.

Evaluation: Demand forecasting also smoothes the process of evaluating efficiency of the sales department.


Related Discussions:- Importance of demand forecast

State the fixed factor of production, State the Fixed factor of production ...

State the Fixed factor of production Input level of a fixed factor can't be varied in the short run. Capital falls under the category of fixed factor. Capital alludes to resour

Managerial economics according to mote and paul, Managerial economics accor...

Managerial economics according to Mote and Paul "Managerial economics refers to those aspects of economics and its tools of analysis most relevant to the firm's decision-making

Types of market structures by the nature of competition, Q. Types of Market...

Q. Types of Market Structures by the Nature of Competition? Conventionally, the nature of competition is assayed to be the basic criterion for distinguishing different types of

Help, BU 5210 Final ...

BU 5210 Final Summer 2013 Economic Analysis

Pigou effect, The pigou effect, also called the real balance effect, is nam...

The pigou effect, also called the real balance effect, is named after the well known Cambridge school economist Arthur Cecil pigou who had first clearly formulated the relationship

Mba, what is third degree discrimination

what is third degree discrimination

Types of income elasticity of demand, Types of Income Elasticity of demand ...

Types of Income Elasticity of demand Depending upon the product, demand might increase or decrease in response to a rise in income.  There are thus five types of income Elasti

Types of pricing, example problems for the types of pricing

example problems for the types of pricing

Show the properties of isoquants, Q. Show the Properties of isoquants? ...

Q. Show the Properties of isoquants? Isoquants slope downwards to the right:   It means that, in order to keep output constant; when amount of one factor is increased then the

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