FORECASTING

• Why is forecasting important in a distribution company? What is it you are specifically forecasting and what is this used for? • Why is forecasting accuracy important? How accurate does a forecast need to be? • What is the difference between forecasting for existing product lines and for new products? • Why should companies spend time and money to improve forecasting accuracy? • How should a company use different methods but yet integrate these methods? • How does strategic planning fit in with forecasting (at least for long term forecasting/planning)?