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One of the accountants responsible for forecasting at PlastiPharm used data for labor and materials from the prototype of one of their new products – data that was two months old. Because changes were made to the final product, this resulted in a forecasting error that cost the company more than $250,000 in labor and materials. Thereafter, the company implemented the use of rolling horizons to help them reduce errors in the future. How will the rolling horizons help increase the accuracy of their forecasts?
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