Which Forecasting Technique Has Drawbacks That Include Subjectivity and the Potential

question 24

Multiple Choice

Which forecasting technique has drawbacks that include subjectivity and the potential for group pressure to lead to less accurate assessments than could be obtained through other means?

• A)a formal expert forecast
• B)an informal expert forecast
• C)managerial judgment
• D)the Delphi technique
• E)the nominal group technique

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Definitions:

Purchasing Manager

A professional responsible for sourcing goods and services for a company, negotiating contracts, and managing supply chain relations.

Appropriate Suppliers

Vendors or providers that meet specific criteria for quality, reliability, and ethical standards, suitable for a business's needs.

Transportation Of Goods

The process of moving products from one location to another, often involving various modes of transport such as trucks, ships, or planes.

Inventory Carrying Costs

The total costs associated with holding and storing inventory, including warehousing, insurance, depreciation, and opportunity costs.