Abstract

SIRIRAM, R.. Improving forecasts for better decision-making. S. Afr. J. Ind. Eng. [online]. 2016, vol.27, n.1, pp.47-60. ISSN 2224-7890.  http://dx.doi.org/10.7166/27-1-486.

Improving the forecasting process may enable managers to make better decisions. In this paper, the forecasting process includes three factors: [A] forecasting input factors, [B] competitive advantage factors, and [C] forecasting effectiveness factors. It is proposed that a deeper understanding of the links between [A], [B] and [C] will lead to improvements in forecasting and better decision-making. The objective of this paper is to develop a model that will allow managers to improve forecasting by better understanding the links in the model. Structural equation modelling (SEM) is used to test the model. Twenty-two hypotheses are tested, of which 18 are accepted.

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