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In practice, the choice between judgment and quantitative methods depends on the specific context and availability of data. For instance, judgment methods might be preferred
In practice, the choice between judgment and quantitative methods depends on the specific context and availability of data. For instance, judgment methods might be preferred for forecasting demand for new products or during promotional periods without historical precedent. Conversely, quantitative methods excel when historical data is abundant, enabling statistical modeling for more accurate predictions. It's essential for supply chain professionals to assess the suitability of each approach based on the unique characteristics of the forecasting scenario. What do you think are the key considerations for organizations when selecting between judgment and quantitative methods in forecasting? Can you share any experiences or examples where the choice of forecasting approach made a significant impact on decision-making processes within supply chains
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