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Why is it important for organizations to consider the time period of forecasts in demand forecasting?
  • a)
    It determines pricing policies.
  • b)
    It affects the accuracy of forecasts.
  • c)
    It helps in deciding production capacity.
  • d)
    It has no significance in demand forecasting.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Why is it important for organizations to consider the time period of f...
Considering the time period of forecasts is important in demand forecasting because it significantly affects the accuracy of forecasts. Short-term and long-term forecasts serve different purposes, and choosing the appropriate time frame ensures that the forecasts align with the organization's specific objectives and planning needs.
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Why is it important for organizations to consider the time period of forecasts in demand forecasting?a)It determines pricing policies.b)It affects the accuracy of forecasts.c)It helps in deciding production capacity.d)It has no significance in demand forecasting.Correct answer is option 'B'. Can you explain this answer?
Question Description
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