Evaluate the prerequisites of a good forecast that you should keep in mind as a manager when budgeting sales and production amounts.
Research a firm that applies forecasting principles and methods. You can take examples from your own work experiences. You can also consult sources such as the Wall Street Journal, Financial Times, Bloomberg Markets, the Economist, US News and World Report, etc.
Create a 4- to 5-page research paper, APA style and references that includes responses to the following:
• Identify the sales forecast for the firm.
• Analyze how this sales forecast impacts all other forecasts for the firm, such as materials, labor, overhead, cash receipts, and disbursements.
• Explain the exogenous factors that you need to be aware of when developing these forecasts. Assess the GDP, rate of inflation, rate of unemployment, and interest rates trends.
• Evaluate the prerequisites of a good forecast that you should keep in mind as a manager when budgeting sales and production amounts.