Question

Q6. (a)

If you are HR manager and you have to prepare a demand forecasting according to the organization plan. As you are the responsible for this process, which of the following technique will follow and why.

NGT technique

Markov Model

Delphi techniqua

Answer 1

Delphi technique

The Delphi technique the best way of demand forecasting because the results of questionnaires sent to the panel of the experts. Many rounds of questionnaires are sent to an anonymous responses are shared with the group after every round. Experts can adjust their answers in subsequent rounds. Since many rounds of questions are asked and panel is told about what the group thinks as a whole and Delphi method seeks for reaching the correct response. It is the opinion from a diverse set of experts without bringing them all together. Since the response is anonymous, panelists don’t worry about their opinions.

In the corporate example:

With the fact that you have to make a demand forecasting according to the organization plan, it means that you will be considering areas where you will be employing the forecasting as per the feedback that you receive from the responses about the area of forecast that you are giving attention to. You will be dealing with groups of experts who share their responses on the forecasts on what is on the table from the organizational plan. It will lead to the development of a clear picture of what should be done at each level of the organization.