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1. What is the current economic climate?

1. What is the current economic climate?

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
Answer the following questions. 1. What is the current economic climate? 2. What should be our forecast accuracy target if there is a high degree of volatility in customer orders and long lead times? 3. We have a new chief sales officer who is proposing that we should forecast in dollars, not in units/cases. I have never heard of anyone forecasting in dollars. It is true that dollarized forecasts can help Sales in knowing precisely what sales target they should be hitting. But, is it the best practice?
Transcribed Image Text:Answer the following questions. 1. What is the current economic climate? 2. What should be our forecast accuracy target if there is a high degree of volatility in customer orders and long lead times? 3. We have a new chief sales officer who is proposing that we should forecast in dollars, not in units/cases. I have never heard of anyone forecasting in dollars. It is true that dollarized forecasts can help Sales in knowing precisely what sales target they should be hitting. But, is it the best practice?
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