In fact, forecasts are basic inputs for many kinds of decisions in business organizations. Consequently, it is important for all managers to be able to understand and use forecasts. Although forecasts are typically developed by the marketing function, the operations function is often called on to assist in forecast development. More important, though, is the reality that operations is a major user of forecasts. Chapter 3 provides important insights on forecasting as well as information on how to develop and monitor forecasts. |
