The impact of various forecasting methodologies (FMs) on the accuracy of performance forecasting (APF) in large manufacturing businesses (LMFs) in Kenya is investigated in this study. The study's goal was to see if alternative forecasting approaches have an impact on any of the APF parameters. APF is rarely calculated correctly in manufacturing operations. LMFs, on the other hand, are more likely to recruit professional forecasters in order to assure APF while establishing future budgets. Many different forecasting methodologies have been discovered to influence operations behaviour, resulting in either accurate or erroneous projections, and either poor or positive organisational performance. The study compared APF, expected value, market share growth, return on assets, and return on sales to the three well-known forecasting methodologies of objective, subjective, and integrated forecasting techniques. A standardised questionnaire was provided to randomly selected LMFs, and data was acquired by regression analysis. The findings revealed that each of the forecasting approaches has a different effect on APF. Researchers have also noticed that there is no one-size-fits-all method of predicting because each forecasting strategy has a different impact on APF.
Author(S) Details
E. W. Chindia
Department of Management Science, School of Business, College of Humanities & Social Sciences, University of Nairobi, Kenya.
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