Managing and improving the forecasting process

Article Abstract:

Identifying the users of the information being forecasted and their corresponding responsibilities is the initial step in improving the process. These data, which will be used to define each forecast's mission, will also be crucial in determining the exact nature of the needed forecast. Close communication between the users and the generators of the forecast is vital not only to ensure the legitimacy of the users but also so that they will be aware of its shortcomings.

Management, Innovations, Forecasting, Information management

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Foreign currency risk management with probit analysis

Article Abstract:

The use of probit analysis, a variation ofthe linear regression forecasting model, in foreign currency risk management isdescribed. The superior qualities of the model over the linear regression modelare cited, such as its use of qualitative or categorical information. Applied in forecasting, the results of a survey show that smaller firms readily accept Canadian dollars as payment for exports than other currencies.

Models, Analysis, Risk management, Sales forecasting

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