February 2016
Intermediate to advanced
480 pages
219h 58m
English
Every day, managers like those at Disney make decisions without knowing what will happen in the future. They order inventory without knowing what sales will be, purchase new equipment despite uncertainty about demand for products, and make investments without knowing what profits will be. Managers are always trying to make better estimates of what will happen in the future in the face of uncertainty. Making good estimates is the main purpose of forecasting.
In this chapter, we examine different types of forecasts and present a variety of forecasting models. Our purpose is to show that there are many ways for managers to forecast. We also provide an overview of business sales forecasting and describe how to prepare, monitor, ...