IMPROVING FORECASTS FOR BETTER DECISION-MAKING

Authors

  • Rajenlall Siriram University of the Witwatersrand

DOI:

https://doi.org/10.7166/27-1-486

Keywords:

Foresating, better decion making, forecasting foundational requirements

Abstract

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. 

Author Biography

Rajenlall Siriram, University of the Witwatersrand

School of Mechanical Industrial and Aeronautical Engineering

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Published

2016-05-10

How to Cite

Siriram, R. (2016). IMPROVING FORECASTS FOR BETTER DECISION-MAKING. The South African Journal of Industrial Engineering, 27(1), 47–60. https://doi.org/10.7166/27-1-486

Issue

Vol. 27 No. 1 (2016)

Section

General Articles

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