Question Description
I’m trying to study for my Management course and I need some help to understand this question.
Identify the different types of forecasts that can be developed for use by a company. Cite examples of how a company might use a particular forecast method and explain why that type of forecast was best suited for that situation. Be sure to reference all sources using APA style.
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Explanation & Answer
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Running Head: FORECAST TOOLS IN ANALYZING SUPPLY CHAIN
Forecast Tools in Analyzing Supply Chain
Student Name
Institution name
Date
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FORECAST TOOLS IN ANALYZING SUPPLY CHAIN
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Introduction
Business forecasting is the prediction or estimation of business development in the near
or far future. Forecasting allows a business to draw upon estimated projections on profits, sales,
and expenditure of a business given the expected variations of the business environment in the
future. This paper attempts to analyze the types of business forecasts and the best forecast
method that can suite the sudden demands on Stone Horse Supply Company.
Business Background
Stone Horse Supply Company is an establishment by Michael and John. It was begun in
1975 as a private project to process healthy horse feeds. Given the quality of feeds produced by
Michael and Jo...