Question

Qualitative forecasts and casual forecasts are not particularly useful as inputs to the inventory and scheduling decisions. Why do you think this statement is true?

Answer 1

Qualitative forecasts and casual forecasts are not particularly useful as inputs to the inventory and scheduling decisions. The reasons provided below:

1. Exact data cannot be determined through these forecasts, as where only assumption can be predicted which will not help to decide on inventory and scheduling.

2. Long time required to analyse these forecast and to get a solutions, so that these forecast cannot be as a inputs for inventory and scheduling decisions.

3. The data collected needs to be dependent on each other where there cannot be individual data collection, so that deoendency on data analyse through forecast method cannot be as a inputs for inventory and scheduling decisions.