The methods of forecasting and planning provide a diverse array of perspectives on predictions for the future. It is important for managers to understand the characteristics, strengths, and shortcomings of the various methods in order to use the methods best suited to their particular needs.

To prepare for this Discussion, review the Learning Resources this week, in which there are details about a number of tools and methods available to managers to assist in forecasting and planning.

Day 3

By Day 3,post your responses to the following:

• Refer to the six steps in the forecasting process outlined on pp. 274-275 of your Shim, Siegel, and Shim (2012). Proceed through each of the first four steps for the apple industry or for a business area of your choice.
• For Step 3, select both a qualitative and a quantitative forecasting method and provide the reasoning behind your choice.
• For Step 4, simply indicate how you would gather the data.
• Select the type of forecasting tool that seems more appropriate for the organization you selecteda qualitative or quantitative tooland justify why this choice is best. Be sure to describe the advantages and disadvantages of using a qualitative or quantitative tool for the organizational area you selected.