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About Heizer Chapter 4 - Forecasting
The document discusses various methods for forecasting, including qualitative and quantitative approaches. It describes four qualitative models: jury of executive opinion, Delphi method, sales force composite, and market survey. It also outlines quantitative time series models including naive, moving average, exponential smoothing, and trend. These models make predictions based on historical data patterns like trend, seasonality, and cycles. Qualitative factors like manager judgment can also be incorporated. Effective forecasting requires determining the time horizon and items to forecast, gathering relevant data, selecting the appropriate model(s), making the forecast, and validating results.
Detailed Information
| Author: | ['A'] |
|---|---|
| Publication Year: | 2022 |
| Pages: | 31 |
| Language: | English |
| Format: | |
| Price: | FREE |
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