New developments in business forecasting

Article Abstract:

Forecasting is fast becoming a vital management function especially in supply chain management. The thrust is shifting from a push to a pull concept of production supported by powerful client/server systems. The pull concept gears towards production based on consumer demands. The advent of new applications improve forecasting accuracy and facilitate utilization of supply chain integration programs such as Efficient Consumer Response and Vendor Managed Inventory among others.

Forecasting, Management, Usage, Innovations, Supply-side economics, Business forecasting, Client/server architecture

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New developments in business forecasting

Article Abstract:

The choice of a business forecasting software product is dependent on the particular application it is intended for. The buyer should be guided by three considerations that include the required forecasting features, the magnitude of the forecasting required and the type of planning that is being supported by the forecasting. The price of the forecasting software, which can range from $500 to $500,000, should not be a factor in the selection process.

Prepackaged software, Software Publishers, Business Software Pkgs (Micro), Methods, Purchasing, Software, Business management software, Suites (Software), Product selection, Software selection

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