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Essay Details:
Essay text:
?UShort-range forecast
?VUp to 1 year; usually less than 3 months
?VJob scheduling, worker assignments
?UMedium-range forecast
?V3 months to 3 years
?VSales & production planning, budgeting
?ULong-range forecast
?V3+ years
?VNew product planning, facility location
?UMedium/long range forecasts deal with more comprehensive issues and support management decisions regarding planning and products, plants and processes.
?UShort-term forecasting usually employs different methodologies than longer-term forecasting
?UShort-term forecasts tend to be more accurate than longer-term forecasts.
?UEconomic forecasts
?VAddress business cycle, e...
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