ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the goal of forecasting? (Chose the BEST answer)
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To underutilize facilities
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To plan for new storage options
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To help plan
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To predetermine number of mangers
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Explanation:
Detailed explanation-1: -For small business owners, forecasting is the process of looking at past and present data, as well as marketplace trends, to predict the company’s future financial performance. It enables you to gauge how much revenue you’ll potentially earn in a particular period and plan for big expenses.
Detailed explanation-2: -There are three basic types-qualitative techniques, time series analysis and projection, and causal models.
There is 1 question to complete.