Forecasting Techniques

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As the vice president there are many details that a vice president must look into and decide how future of McDonald and understanding the critical need for planning with in and organization is need in order to run a smooth operation from day to day operation needs to future needs. As the vice president you must insure that the senior staff is ready to implement this long/short term goals. Long term and short term forecasting is very important as it can be detrimental to the functionalities of each operating McDonalds.
There are many responsibilities that are need to be looked at when forecasting such as deliverables of a product, work interruption and cost just to name a few. Having an accurate forecast especially with regards to long/short term goals will help develop the outflow of the supply chain needed to maintain a steady work flow. There are many forecasting techniques to adhere to with developing a forecast such as Judgmental forecasting, Time-series forecasting and other models. As stated by Delurgio (n.d.) “Judgmental forecast rely on analysis of subjective inputs ob...

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