A large manufacturer of skis and ski accessories has traditionally relied on guesswork to develop forecasts for demand for most of its items. How might this company benefit from using a more formal or proven forecasting technique?
What will be an ideal response?
A successful answer will describe the negative potential results of guesswork forecasting. These could include inaccurate, distorted forecasts that lead to carrying too little or too much inventory. Suggestions for how formal forecasting techniques seek to fix these issues should be made.
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Africa represents a huge untapped market for shoes since most people walk barefoot. Thus, it will be easy to alter entrenched consumer behavior pattern if shoes are available
Indicate whether the statement is true or false
It is always wise to have a ______, which is the best outcome you could achieve if the negotiation fails and you must follow another course of action.
A. CAT B. BATNA C. NATBAT D. ZOPA
A retail store has beginning inventory of $30,000, purchases of $220,000, sales of $200,000, and a normal gross margin of 25 percent. What is estimated inventory based on these facts and the gross profit method?
A) $50,000 B) $150,000 C) $100,000 D) $200,000
Purchasing managers seldom use purchasing specifications to buy on the Internet.
Answer the following statement true (T) or false (F)