FORECASTING PRACTICES
Date
2011-05-30
Authors
Mungur, Prakash
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Abstract
The research problem consisted of unveiling the current forecasting practices in terms
of techniques, processes, resources/functions in the manufacturing sector in Mauritius.
The methodology consisted of sending a self-completed questionnaire that respondents
who were mainly managers from the manufacturing sector had to answer. The results
obtained were analysed mainly through descriptive statistics with some inferential
statistical methods.
The findings of the research are threefold. Firstly in terms of techniques it was found
that there was a lack of recent developments and the major types of techniques were
judgemental techniques with rules of thumb and gut feel.
Secondly in terms of process, it was found that it was very unclear whether standard
procedures existed for carrying forecasts and forecasts were found not to be credible in
organisations.
Finally in terms of resources/functions it was found that there was insufficient training,
little use of computer and computer software, no holistic approach to managing the
forecasting function and that on the whole there was no organisational support to
forecasting
Description
MBA - WBS
Keywords
Strategic planning, Industry, Mauritius