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Essay / Forecasting Techniques - 524
As a VP, there are many details that a VP must review and decide on the future of McDonald's and understand the critical need for planning with the inside and organization so that operations run smoothly. from daily operational needs to future needs. As VP, you must ensure that senior management is prepared to implement these long/short term goals. Long-term and short-term forecasting is very important because it can harm the functionality of every operating McDonald's. There are many responsibilities that need to be considered when forecasting, such as product deliverables, labor disruption, and costs, to name just one. little. Having an accurate forecast, especially regarding long/short term goals, will help develop the supply chain outflows needed to maintain a stable workflow. There are many forecasting techniques to consider when developing a forecast, such as judgment-based forecasting, time series forecasting, and other models. As Delurgio (nd) states, “Judgement-based forecasts rely on the analysis of subjective inputs....