Mgsc 395 stuvia Study guides, Class notes & Summaries

For what organizational decisions are demand forecasts used? - Answer -long term(general forecast) -intermediate term(product family/service lines) -short term(detailed) What are the costs/risks of forecasts that are too high or too low? - Answer Too high: -surplus of inventory -price markdown(blackfri.) -too many employees Too low: Not enough.. -product for demand -people working(bad customer service) What are characteristics of all forecasts? - Answer -ALL wrong to some degr...