It would be most appropriate to combine a judgment approach, Ask an Expert

Management Studies

It would be most appropriate to combine a judgment approach to forecasting with a quantitative approach by:

a. having a group of experts examine each historical data point to determine whether it should be included in the model. Uncertain demand

b. developing a trend model to predict the outcomes of judgmental techniques in order to avoid the cost of employing the experts.

c. combining opinions about the quantitative models to form one forecasting approach.

d. adjusting a forecast up or down to compensate for specific events not included in the quantitative technique.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91765481

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