Answer to Question #267431 in Management for jean

Question

Why do you think many firms need to integrate forecasting with value chain and capacity management systems?

Answer 1

Forecasting helps firms cut costs to keep customers happy. In supply chain management, forecasting helps companies plan for price fluctuations, avoid unnecessary inventory expenses and fill orders in time. It is valuable to businesses as it enables firms to develop data-driven strategies and make informed decisions based on the future and current market conditions.