Subject: – new system to achieve better level of forecasting

  

Subject: – New System to achieve better level of forecasting

Traditionally, according to the details given by the forecasting department to the sales manager, the accuracy which has been achieved with that system is 60%, which is a major problem that company is facing. This problem leads to the problems in the Purchasing, Production and Inventory Management departments (Lempert, 2007).. The critical problem is leading to drop the competitive image of the company in the market because the problem is hampering the whole manufacturing system and product deliverables. So there is a serious need of finding the new system that will help in achieving the better level of forecasting.