Question

A technique of forecasting ahead every step in the long process of production is called as

Answer 1

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A technique of forecasting ahead every step in the long process of production is called as $\mathcal\blue{MOS \:(for\: Model\: Output\: Statistics)}$.

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Answer 2

A technique of forecasting ahead every step in the long process of production is called as production planning

Explanation:

• Forecasting is the method of planning for the future through predicting on the demand and supply of goods. It is specifically based on data of the past which helps in making effective predictions for the future production.
• Forecasting ahead of every step of production involves effective measures to take care of the risks and uncertainties that can come on the way. An effective production plan can help in mitigating the uncertainties and create situations for determining methods integrating processes for a smooth flow of production
• Production planning is needed in the long process of production with the help of forecasting. It helps in taking control of the situation and monitor the flow of production. It helps in creating a production plan for the future with the kind of resources that are needed for production

To know more about production planning

Difference in production planning and process planning

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What is production planning and functions of production planning?

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