Discussion 2 – MGT530
Learning Goal: I’m working on a management discussion question and need an explanation and answer to help me learn.
Demand forecasting results in an estimate of future demand and gives an organization a basis for planning and making sound business decisions. Since the future is unknown, it is expected that some errors between a forecast and actual demand will exist, so the goal of a good forecasting technique would be to minimize the difference between the forecast and the actual demand.
Address the following requirements:
- Articulate the difference in short and long-term forecasts, forecasting techniques, and the benefits and challenges of each technique.
- Create a forecast for a situation with which you are familiar (personal or professional) explaining the situation and why you chose the method of forecasting that you did.
Embed course material concepts, principles, and theories, which require supporting citations along with at least two scholarly, peer-reviewed references in supporting your answer. Keep in mind that these scholarly references can be found in the Saudi Digital Library by conducting an advanced search specific to scholarly references.
well-written paper should meet the following requirements:
- Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
- All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
- Using websites as a reference is not acceptable, it must be books or scientific papers.
- Should be Using at least 3 references.
- Use Saudi Electronic University academic writing standards and APA style (7th ed.) guidelines