ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Cost
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Accuracy
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managers use the system
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managers plan the use of the system
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Detailed explanation-1: -Others concentrated on a firm’s operating environment, political connections, information technology (IT) capability, audit quality, and customer satisfaction and how the elements of financial statements affect the forecast accuracy of financial analysts.
Detailed explanation-2: –The forecast should be expressed in meaningful units.-The forecast should be in writing.-The forecast technique should be simple to understand and use.-The forecast should be cost-effective: The benefits should outweigh the costs.
Detailed explanation-3: -For example, accurate forecasts help you better predict things like future revenue, expenses, profit margins and net income. Understanding forecast accuracy can help you better plan your business success by minimizing inaccurate investment information and letting you focus on more effective sales techniques.