Question

Which of the following approaches can help you mitigate the challenges of poor forecasts? a. Obtain and use the best, most recent information available b. Always use simple forecasting techniques c. Build flexible operations d. Minimize inventory e. All of the above f. a and conly g. b and d only

Answer 1

Answer: E. All OF THE ABOVE

Explanation:Forcasting is a technical term used especially in Economy management, statistics,and in operations to predict possible outcomes especially as it concerns the future,putting into consideration prevailing circumstances.

The challenges of poor forcasting can be mitigated by all of the approach highlighted. Using the BEST,MOST RECENT INFORMATION, USING SIMPLE TECHNIQUES (this will improve accuracy and avoid complexities), BUILD FLEXIBLE OPERATIONS and MINIMIZE INVENTORY ( this will reduce the stress of handling too many things at a time).