Question: Explain how forecasting impacts operations management and the pros and cons of each forecasting method. Naive vs averaging Factors to consider Cost Accuracy Availability of

Explain how forecasting impacts operations management and the pros and cons of each forecasting method.
Naive vs averaging
Factors to consider
Cost
Accuracy
Availability of historical data
Availability of forecasting software
Time needed to gather and analyze data and prepare a
forecast
Forecast horizon

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