Importance of demand forecast, Managerial Economics

Assignment Help:

Management Decisions: An effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like plant capacity, raw-material requisites, space and building requirements as well as availability of labour and capital. Manufacturing schedules can be drafted in compliance with the demand requisites; in this manner cutting down on the inventory, production and other related costs.

Evaluation: Demand forecasting also smoothes the process of evaluating efficiency of the sales department.


Related Discussions:- Importance of demand forecast

Profession, list all profession which generate personal income

list all profession which generate personal income

Evaluate total cost - fixed and variable, Q. Evaluate Total Cost - Fixed an...

Q. Evaluate Total Cost - Fixed and Variable ? Total cost (TC) of the firm is a function of output (q). It would increase with the increase in output, which is, it differs dire

Environmental issues of managerial economics, Environmental issues of Manag...

Environmental issues of Managerial economics Managerial economics also includes some aspects of macroeconomics. These relate to political and social environment in that anin

Sat scores, 100 schools are given exactly one million dollars each in grant...

100 schools are given exactly one million dollars each in grant money. They can spend the money on any or all of three programs: math tutoring (math), kickball lessons (kickball),

Collective bargaining, Collective bargaining Collective bargaining  ...

Collective bargaining Collective bargaining  refers to the whole process by which trade unions and employers (or their representatives) arrive at an enforce agreements.  Tra

Williamson model of managerial discriation, how equilibrium output can be...

how equilibrium output can be find in williamson model

Features of planned economy, Features of Planned Economy The command e...

Features of Planned Economy The command economies relies exclusively on the state.  The government will decide what is made, how it is made, how much is made and how distribut

State the relevant economic quantities, State the relevant economic quantit...

State the relevant economic quantities Managerial economics helps the management in predicting numerous economic quantities like profit, cost, capital, demand, price, productio

What is the theory of the firm, What is the theory of the firm A firm c...

What is the theory of the firm A firm can be considered an amalgamation of people, financial and physical resources and a variety of information. Firms exist as they perform us

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd