Seven important keys for this are as follow.
1.Understand what forecasting is and is not
As a result of this a better environment will established for business activities. Accuracy and remove the game plan is also can be achieved.
2. Forecast demand and plan supply
In this way you can improve capital planning and customer service.
3. Communicate, corporate and collaborate
It is very helpful to get all important information for to forecast and it is trustable for user. More accurate and relevant forecast can be got.
4. Eliminate island of analysis
With this key more reliable and accurate forecast can be achieved.
5. Use tools wisely
With the help of this efficiency and effectiveness will be get.
6. Make it important
With the help of this forecasting key developers can take serious the issue that are under discussion. Accuracy and credibility can also be achieved.
Forecast performance can be including in the individual performance plans. Errors can be removed and improvement can be also achieved. Confidence of the forecasting can also be increased.
MGT713 - Production / Operations Management