do you agree or disagree and why?
Langabeer and Helton (2016) state that forecasting is "a collaborative process that estimates the volume of patients who will be served over a specific time period" (p. 107). Forecasting is a form of planning ahead for the future. Planning ahead is biblical. Proverbs 21:5 supports this when it says "Careful planning puts you ahead in the long run; hurry and scurry puts you further behind". Healthcare managers need to plan ahead and also to understand forecasting. It is important for them to have a sound working knowledge of changes in activity levels over time. Forecasting patient demand plays an important part in this process.There are two main types of forecasts. One type is qualitative which encompasses "predominantly market research, executive opinion, or Delphi methods which are used to make subjective decisions about the future without relating demand to historical performance quantitatively" (Langabeer & Helton, 2016). The other type is quantitative. It is used to forecast future data as a function of past data. The quantitative model should be utilized for healthcare forecasting. There are two forms of quantitative forecasts. The two types are univariate and multivariate. Langabeer and Helton (2016) define univariate as "dependence on a single variable". The multivariate method utilizes more than one variable to model the past to make more exact predictions about the future.
Answer: According to the biblical proverb, it is true that we shouldn't do any work in hurry or at temporarily decision. Before anything of any decision we should think twice and with all the positive and negative impact and here forecasting has to be done which includes quantitative model as well as qualitative model.
do you agree or disagree and why? Langabeer and Helton (2016) state that forecasting is "a collaborative process that es...
do you agree or disagree and why? Forecasting is a process in my opinion I believe to be very important for an organization, as it helps the company run in a manner of production to properly flow. The two types of forecasting are qualitative and quantitative. Qualitative methods include mainly market research, executive opinion; qualitative methods for demand forecasting may be useful for gauging potential demand of entirely new products that have no relationship with other products and cannot be...
Case Study Demand Forecasting For an organization to provide customer delight it is important that organization can understand what customer wants and how much do they want. If an organization can gauge future demand that manufacturing plan becomes simpler and cost-effective. The process of analyzing and understanding current and past information to understand future patterns through a scientific and systemic approach is called forecasting. And the process of estimating the future demand of the product in terms of a unit...
First, read the article on "The Delphi Method for Graduate Research." ------ Article is posted below Include each of the following in your answer (if applicable – explain in a paragraph) Research problem: what do you want to solve using Delphi? Sample: who will participate and why? (answer in 5 -10 sentences) Round one questionnaire: include 5 hypothetical questions you would like to ask Discuss: what are possible outcomes of the findings from your study? Hint: this is the conclusion....
OPS Practice quiz 2. The benefits of risk pooling depend on the behavior of demand from one market relative to demand from another. True False 3. What is Supply Chain Management? A set of approaches utilized to efficiently integrate suppliers, manufacturers, warehouses and stores so that merchandize is produced, distributed at the right quantities, to the right locations and at the right time in order to minimize system wide costs while satisfying service level requirements. The management of the flow...