OPS 571 Week 5 Assignment, Quantitative Forecasts

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OPS 571 Week 5 Assignment, Quantitative Forecasts

“Forecasts are vital to every business organization and for every significant management decision. Forecasting is the basis of corporate planning and control. In the functional areas of finance and accounting, forecasts provide the basis for budgetary planning and cost control. Marketing relies on sales forecasting to plan new products, compensate sales personnel, and make other key decisions. Production and operations personnel use forecasts to make periodic decisions involving supplier selection, process selection, capacity planning, and facility layout, as well as for continual decisions about purchasing, production planning, scheduling, and inventory” (Jacobs & Chase, 2014). The Company being reviewed is Macy’s and I will be describing…………….Continued

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