1. a.) What is forecasting? b. Explain the importance of forecasting for managers like you? c.) What are the different types of qualitative and quantitative forecasting? Explain each. d.) How can a company choose a specific quantitative forecasting technique?
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Q: What measures are used to assess the most important supply chain processes?
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- What forecasting techniques are used in the management of technology and innovation?What are the two most important factors of forecasting techniques.?Q2 (a) Understanding the inherent strengths and weaknesses of each forecasting method is important for technology managers to ensure technological development and innovation can be conducted successfully. Compare the strengths and weaknesses of TWO (2) technology forecasting methods.
- What are the four types of qualitative forecasting techniques?K 2. Setting an advertising budget is a forecasting exercise. What are the fundamental principles that should be adhered to when undertaking forecasting? Be conservative and use the best evidence-based technique available Be innovative and use multiple methods and choose the optimal one Be conservative and use multiple evidence-based techniques, taking the average result Be innovative and use multiple evidence-based techniques, taking the average resultwhich of the following are charactersitics of qualitative forecasting methods? 1. Function of past data,2. Non numerical data , 3. useful when past data is avaialable , based on 4. broad range of knowledge , personal judgement, and intuition?
- 1-What is the difference between qualitative forecasting techniques and quantitative forecasting techniques?What forecasting methods should the company consider? Please justify.What factors make forecasting at Deckers particularly challenging? Howcan forecasts be made for seasonal, fashionable products for whichthere is no history file? What are the costs of over-forecasting demandfor such items? Under-forecasting?
- Tools Add-ons Help Accessibllity Last al text Calibri 11 BIUA = ニ三▼三 + 1 2 3 TI 4 I 5. 6. Using your own words, describe the drawbacks of the moving average forecasting model and the drawbacks of the nalve forecasting model. Provide an example to contrast these two methods. acerIdentify the key differences between qualitative and quantitative forecasting methods. Which is better in your opinion andwhy?2.1 Compare and contrast between the grassroots forecasting technique and the Delphi method. 2.2 Explain integrated service providers in logistics management