A contractor of a fast food giant failed to deliver the expected output of an inventory systems upgrade. This resulted in more than 70 branches closing due to inventory problems. It compromised the sales for the month. What do you think were the potential opportunities opened up to other players in the fast food industry?

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Q: Discussion 3

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Q: Discuss the meaning of the word "sustainability" and how it applies to businesses.

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Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.