Professional Documents
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Forecasting For Operations Planning: Qualitative Methods Quantitative Methods
Forecasting For Operations Planning: Qualitative Methods Quantitative Methods
Planning
Qualitative Methods
Quantitative Methods
What is Forecasting?
• Business and economic conditions do not
remain the same over time.
• It is necessary for management to be aware of
the changes and their effect on their
organisation.
• Forecasting is the art and science of making
better estimates for future events
How is Forecasting done?