Learning Objectives

After studying this chapter, you should be able to:

13.1: Demonstrate the importance of forecasting for business operations.

13.2: Recognize the characteristics of good forecasts.

13.3: Distinguish between qualitative and quantitative types of forecasting methods.

13.4: Use the four forecast error measures to track forecast accuracy.

13.5: Employ the methods used to monitor and control forecasts.

13.6: Identify the steps involved in forecasting for supply chains.

13.7: Illustrate the role that ethics and ethical decision making can play in selecting and using forecasting models.