Practical Operations Management
Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
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Chapter 4, Problem 4P
Summary Introduction

Interpretation:Describing the time of choosing quantitative forecasting model approach or qualitative approach for short term decision making or long term decision making.

Concept Introduction:Forecasting refers to future event anticipation process and forecast can be done by numerous method depending upon past performance of the entity which is in similar operation. There by forecast is result of calculation made with available information of the operation.

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Introduction to Forecasting; Author: Ekeeda;https://www.youtube.com/watch?v=5eIbVXrJL7k;License: Standard YouTube License, CC-BY