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Forecasting is, however, an attempt to predict that future. Forecasting involves taking historical data-that is data from past, such as sales figures for the previous three years -and projecting data into the future, using mathematical models(kruger ,Ramphal and Marit.2013:112).
Therefore the organisation fails to improve the forecast (Kruger et al. 2013:122).
R. et al. 2011:68)
These are the resources that are treated, transformed and converted in the process
These are the resources which act upon the transformed inputs.
The operation manager must be experienced in the latest technology required to transform the barely seed into beer. He or she should ensure that the mash tun, a lauter tun and filter are maintained regularly. These can be achieved through implementing the correct maintainance programme.
The diversity is measured by number of model of particular product or service produced.
What is Business Forecasting?. (2019, Nov 15). Retrieved from https://studymoose.com/what-is-business-forecasting-essay
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