3.3 Decision Making Techniques

3.3 Decision Making Techniques

1. 3.3 Critical Path Analysis

2. 3.1 Sales Forecasting

   • The process of predicting future volume and trends
     • Inform operations about stock and output
     • Inform cash flow and budgets
     • Help planning the workforce (Handy)
   • Time series analysis
     • Past data figures in order to predict future sales
     • Moving averages
       • Shows whether a trend is significant by smoothing out fluctuations in data
       • Allow the better identification of an overall trend
       • Identifies influencing factors on future sales e.g. seasonal, cynical or random fluctuations
     • Scatter Graph

3. 3.2 Investment Appraisal

4. 3.4 Decision Tree