Forecasting practices in U.S. corporations: Survey results

Forecasting practices in U.S. corporations: Survey results

0.00 Avg rating0 Votes
Article ID: iaor19942106
Country: United States
Volume: 24
Issue: 2
Start Page Number: 92
End Page Number: 100
Publication Date: Mar 1994
Journal: Interfaces
Authors: ,
Keywords: computers
Abstract:

By surveying current forecasting practices at 500 U.S. corporations, the authors explored the reasons managers rely heavily in judgemental forecasting methods and attempted to identify what needs of practitioners are not met with current procedures. Although managers are more familiar with quantitative forecasting methods than in the past, the level of usage has not increased. Practitioners continue to rely largely on judgmental forecasting methods. The major obstacles cited to the use of formal forecasting are lack of relevant data and low organizational support. Further, when quantitative forecasting methods are used, they frequently are judgmentally adjusted. Most practitioners prefer a bias in the forecast that is related to the organizational reward system.

Reviews

Required fields are marked *. Your email address will not be published.