FORECASTING

Forecasting

Forecasting

Introduction

We must realize that the forecasts are very important in determining the future reality. We have to start thinking at the present time for the proper functioning of the important areas of the production process. The forecast has an infinite variety of occasions and ways to manifest.

The forecasting helps in the line of action to take. By forecasting, an organization will be able to take the steps to overcome. It is a kind of picture of the future, where upcoming events are expected to some accuracy as the idea that one has formed of them.

To date, the forms of forecasting have achieved high degrees of technological advancement. It has arrived at the sophisticated concept of Strategic Planning, which relies for its actions and tools created specifically for this purpose.In short, it is very important to the foresight and be clear about the importance to the strategic and internal resources. It helps in order to maintain adequate production levels (Armstrong, 2001).Discussion

Wheeled Coach is always keeping an eye on the future. They are always improving their rescue vehicles and ambulances. The goal has been to make emergency vehicles safer for both patient and crew, and at the same time, make them more efficient (Flyvbjerg, 2008).

Forecasting in Wheel Coach Ambulance Company is the basic process that we use to select targets and determine how to achieve them. One of the main tasks of managers is to plan the efforts of members of the Wheel Coach Ambulance Company and use of other resources to achieve the their goals. In the changing environment, forecasting must rely more on systematic procedures and rational and less on a hunch or intuition (Armstrong, 2001).Relation of Forecasting to Product Development and Services it Offers

Forecasting helps Wheel Coach Ambulance Company to make proper strategy of their product development and provide better services to customers. Forecasting is a way through which Wheel Coach Ambulance Company can compete with its competitors. They can do the sales forecasting before launching any of their new service.Difficulties that Wheel Coach Ambulance Company face most in coming up with Accurate Forecasts

There is a low accuracy of the ...