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Topic: Science
Number of pages / Number of words: 3 / 719
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It demands being more resourceful in using demand indicators to improve forecasts and having a system for tracking forecasting errors. In his article, Fisher gives the example of the ski-wear company, Sport Obermeyer, where the company faced costly forecasting errors despite the improvements in their system like reducing processing times for orders by a computerized system, shortening lead times by pre-positioning raw materials to a closer location, and air freight to expedite delivery...


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He declares that after applying the new concept of accurate response, this ski-wear company increased profits by 75%. The company convened a panel of experts to make independent forecasts and used the variance in different predictions to measure the accuracy of the forecasts where past demand data is not available...


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IMPORTANCE OF FORECASTING AND CONTROLLING ERRORS Forecasting demand Forecasting Oil Price and Demand errors of overregularization Biblical Errors Medication Errors English Errors Medical Errors Eye Tracking Techniques Improve Aircraft Simulators Dune-lots Of Errors Shakespeare's The Comedy Of Errors Errors Hidden Between The Lines Finance - Finding Errors Famous Marketing Errors Medication Errors & Nursing

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