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Why is forecasting important in a distribution company? What is it you are specifically forecasting and what is this used for?
· Why is forecasting accuracy important? How accurate does a forecast need to be?
· What is the difference between forecasting for existing product lines and for new products?
· Why should companies spend time and money to improve forecasting accuracy?
· How should a company use different methods but yet integrate these methods?
· How does strategic planning fit in with forecasting (at least for long term forecasing/planning)?
You should know the answers to these questions and use this information in your Report to Danny Wilco.
Using the background information about EBBD’s forecasting situation and the information you obtain from the background readings and your research, write a report to Danny Wilco, addressing the questions that he posed. Then develop a draft Powerpoint presentation.
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