FORECASTING PRACTICES

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