One of the Characteristics of Forecasts Is

question 25

Multiple Choice

One of the characteristics of forecasts is

• A) forecasts are always right.
• B) forecasts are always wrong.
• C) short-term forecasts are usually less accurate than long-term forecasts.
• D) long-term forecasts are usually more accurate than short-term forecasts.
• E) none of the above

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Definitions:

Reactive Processes

Processes that are initiated in response to specific situations or changes, rather than being pre-planned or proactive.

Supply Chain

The entire network of entities, directly or indirectly interlinked and interdependent, involved in producing and delivering a product or service from suppliers to the end consumer.

Major Components

The primary elements or parts that make up a product or system, critical for its operation or functionality.

Overall Goal

The primary, overarching aim or objective that an organization or individual strives to achieve, guiding decision-making and strategy formulation.