Types of Forecasting Objectives

Types of Forecasting Objectives (SBL)

I. Short-term Forecast

• Involves planning the overall current policy

• Assesses current developments

II. Budget Forecast

• Prepares an annual budget at corporate, divisional, or departmental (CDD) levels

• Sales forecasts are critical for planning future years

III. Long-term Forecast

• Covers an extended (long) period, typically from three to thirty years.