Which of the following statements is true about accelerating the forecasting process?
A)Forecasts will be more accurate when the randomness of the actual demand is not considered.
B)Forecasts will be more accurate when the forecasters can access current changes in demand quicker.
C)Forecasts can be accelerated when processes used to collect demand data are manual.
D)Forecasts will be more accurate when the forecasters take more time to access current changes in demand.

Question

Quizplus · Accepted Answer

Accelerating the forecasting process would involve accessing current changes in demand quickly, which would improve the accuracy of the forecast. A is incorrect because randomness should always be considered in forecasting. C is incorrect because manual processes take longer and may not yield the best data. D is incorrect because taking more time does not necessarily lead to more accurate forecasts.

Which of the Following Statements Is True About Accelerating the Forecasting