Question

The top management of Kryptos Inc., a supplier of office stationery to large IT corporations, is involved in a meeting with its sales personnel. To forecast the company's future sales, its sales department takes into account the views of the top management representing marketing, production, finance, purchasing, and administration. Kryptos Inc. is using _____ for sales forecasting.

Answer 1

Answer:

Jury of Executive Opinion

Explanation:

Jury of Executive Opinion method of sales forecasting employs the views of to management in various section. They are are experienced and have good knowledge of the market factors and are able to predict the expected sales. They are able to forecast sales figures through estimates and previous experiences. All internal and external factors are taken into account. Their judgements are pooled together and averaged in drawing the sales forecast of Kryptos Inc.

Answer 2

Answer:

The correct answer is letter "D": the jury-of-executive opinion method.

Explanation:

The jury-of-executive opinion method is a type of forecast where the information provided by experts of a certain matter is considered the study data. This type of practice is conducted in top manager meetings aiming to come to a conclusion helpful to make decisions of the course of the company at the end of the reunion.