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Why it is so Difficult to Prepare an Accurate Forecast for Planning Production

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It is difficult because the sales forecasting itself is difficult. We must try to ensure with the help of a good system and process that sales forecasting itself is as accurate as possible. Read more

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Why it is so Difficult to Prepare an Accurate Forecast for Planning Production

  1. 1. FAQs: Accurate Forecast for Planning Production Part - 5 Powerful Planning! Simplified
  2. 2. Explain why it is so difficult to prepare an accurate forecast for planning production? It is difficult because the sales forecasting itself is difficult. We must try to ensure with a help of a good system and process that sales forecasting itself is as accurate as possible. The supply and production planning is a derivation of this forecast and their accuracy to a large extent depend on accuracy of this forecast.
  3. 3. In case of volatile products one can use confidence limits instead of point forecasts to ensure that the volatility does not adversely impact the production schedules.
  4. 4. To understand more about the budgeting, supply chain, planning and forecasting you may join our course on same
  5. 5. “Without goals, and plans to reach them, you are like a ship that has set sail with no destination.” - Fitzhugh Dodson, Author
  6. 6. For better understanding on planning and forecasting, you may enroll to our full training Check the next slide >>
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