At PlastiPharm, the operations group has analysts who work with the company's sales team to forecast the amount of inventory needed in the warehouse to fill customer orders for medical device bags. In the past, the information provided by the sales team was not very accurate. However, the analysts can now access customer contracts through the company's ERP system to forecast how many components to order. Which of the following statements best explains the benefits of this improved forecasting process for ordering inventory? A better forecasting system will ensure that no future overages or shortages will occur and will help the company develop a closer working relationship with its suppliers. Working with the sales team to improve the accuracy for inventory needs requires a great deal of coordination, but improving the quality of forecasts is worth it to the company. Coordinating forecasting with accurate information from within the company and with customers reduces component overages and shortages and improves the quality of the forecast. Relying on accurate information will allow the company to design a better system for forecasting and will establish better relationships with its suppliers because they will know what to expect