Forecasting

Forecasts play an important role in the planning process because they enable managers to anticipate the future so they can plan accordingly. Forecasts affect decisions and activities throughout an organization such as accounting, finance, human resources, marketing, budgeting, capacity planning, sales, production, inventory, personnel, purchasing and more. Most of forecasts result decisions which will have consequences in other areas of the organizations. Therefore, it is important that managers coordinate their decisions. Forecasts can be used to plan the system or to plan the use of the system. It is not an exact science. Forecast requires a skillful blending of art and science. Corporate Clinic will help you generate reliable, timely, accurate, meaningful, simple and cost effective forecasts.