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

Measurement of inflation, Measurement of Inflation The rate of inflati...

Measurement of Inflation The rate of inflation is measured using the Retail Price Index.  A retail Price Index aims to measure the change in the average price of a basket of g

Characteristics of perfect competition market, Q. Characteristics of perfec...

Q. Characteristics of perfect competition market? Following are the characteristics of perfect competition market:  • Large Number of Sellers andBuyers: As there are a lar

Bank rate , Bank Rate Bank rate is the rate at which the central bank ...

Bank Rate Bank rate is the rate at which the central bank gives loans to the commercial banks against the security of government and other approved first class securities. In

What statistical method used to estimate economic variable, Statistical tec...

Statistical technique used to estimate economic variable Some statistical techniques are used to estimate economic variables of interest to a manager. In a number of cases, sta

Explain about time series analysis, Q. Explain about Time series analysis? ...

Q. Explain about Time series analysis? An analysis of relationship between variables over a period of time. Time-series analysis is helpful in assessing how an economic or othe

Define national income, National Income National Income is a measure o...

National Income National Income is a measure of the money value of goods and services becoming available to a nation from economic activities. It can also be defined as the to

Explain the diminishing marginal utility, Diminishing Marginal Utility ...

Diminishing Marginal Utility Diminishing marginal utility as well is to be held responsible for the rise in demand for a product when its price declines. When an individual pur

Theory of consumer behaviour, Theory of Consumer Behaviour Through the...

Theory of Consumer Behaviour Through the study of theory of consumer behaviour we can be able to explain why consumers buy more at a lower price than at a higher price or put

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