The Need of Accurate Forecasting


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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

Case Details:

Price:
Case Code : OPER039 For delivery in electronic format: Rs. 100;
For delivery through courier (within India): Rs. 100 + Rs. 25 for Shipping & Handling Charges

Themes

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Case Length : 03 Pages
Period : 1999 - 2004
Organization : Varied
Pub Date : 2004
Teaching Note : Available
Countries : India
Industry : Service

Abstract:

The case focuses on the importance of forecasting and the role of forecasting in the planning and control functions of an organization. Though forecasting cannot predict future demand with absolute accuracy, it can provide vital information for strategic, tactical and operational planning. The case examines the need for good forecasting and throws light on the process of forecasting.

Issues:

» The importance of forecasting

» The process of forecasting

» The role of forecasting in strategic, tactical and operational planning

Keywords:

Focuses, importance, forecasting, planning, control, organization, future demand, absolute accuracy, vital information, strategic, tactical, operational , planning

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