A Managerial Guide to Forecasting

Abstract

In order to predict the future we must examine the past in order to observe trends over periods of time and establish the degree of probability with which these trends are likely to repeat themselves in the future. All forecasts are wrong, and management must be aware of this fact and decide upon the degree of inexactitude that can be tolerated when planning for the future.

Citation

Lancaster, G. and Lomas, R. (1986), "A Managerial Guide to Forecasting", International Journal of Physical Distribution & Materials Management, Vol. 16 No. 6, pp. 3-38. https://doi.org/10.1108/eb014637