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Managing the forecasting function

Nada R. Sanders (Associate Professor of Operations Management in the Department of Management Science and Information Systems, College of Business Administration, Wright State University, Ohio, USA.)

Industrial Management & Data Systems

ISSN: 0263-5577

Publication date: 1 May 1995

Abstract

The usage of formal statistical forecasting procedures has been shown in numerous studies to improve forecast accuracy and, consequently, organizational performance. However, the process of implementing and managing this technology can run into many stumbling blocks. Identifies six major organizational problems when implementing and developing formal statistical forecasting procedures. Provides solution strategies to these problems and discusses specific managerial implications. This information is important to managers in order to gain the greatest benefit from the forecasting function.

Keywords

Citation

Sanders, N.R. (1995), "Managing the forecasting function", Industrial Management & Data Systems, Vol. 95 No. 4, pp. 12-18. https://doi.org/10.1108/02635579510086689

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Publisher

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MCB UP Ltd

Copyright © 1995, MCB UP Limited

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