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Forecasting Practices in Mexican Companies

Author

Listed:
  • Jorge A. Duran

    (College of Business Administration, University of the Americas, Cholula, Puebla 72820, Mexico)

  • Benito E. Flores

    (College of Business Administration, Texas A&M University, College Station, Texas 77843-4217)

Abstract

A survey of firms in Mexico shows that many companies make limited use of modern forecasting methods. The forecasting techniques used in the US and included in the survey are little known or used by the reporting Mexican companies. This is in spite of the fact that business forecasting has been taught in colleges and universities in Mexico for many years. The most commonly used methods are the judgmental. A likely explanation is the unstable business situation suffered by companies in Mexico since the December 1994 devaluation. Economic instability will make it very difficult to use historical information for forecasting purposes.

Suggested Citation

  • Jorge A. Duran & Benito E. Flores, 1998. "Forecasting Practices in Mexican Companies," Interfaces, INFORMS, vol. 28(6), pages 56-62, December.
    • Handle: RePEc:inm:orinte:v:28:y:1998:i:6:p:56-62
    DOI: 10.1287/inte.28.6.56
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    References listed on IDEAS

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    1. Winklhofer, Heidi & Diamantopoulos, Adamantios & Witt, Stephen F., 1996. "Forecasting practice: A review of the empirical literature and an agenda for future research," International Journal of Forecasting, Elsevier, vol. 12(2), pages 193-221, June.
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    Cited by:

    1. Goodwin, Paul, 2002. "Integrating management judgment and statistical methods to improve short-term forecasts," Omega, Elsevier, vol. 30(2), pages 127-135, April.
    2. Kalchschmidt, Matteo, 2012. "Best practices in demand forecasting: Tests of universalistic, contingency and configurational theories," International Journal of Production Economics, Elsevier, vol. 140(2), pages 782-793.
    3. Zotteri, Giulio & Kalchschmidt, Matteo, 2007. "Forecasting practices: Empirical evidence and a framework for research," International Journal of Production Economics, Elsevier, vol. 108(1-2), pages 84-99, July.
    4. Donna F. Davis & John T. Mentzer & Teresa M. Mccarthy & Susan L. Golicic, 2006. "The evolution of sales forecasting management: a 20-year longitudinal study of forecasting practices," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 25(5), pages 303-324.
    5. Klassen, Robert D. & Flores, Benito E., 2001. "Forecasting practices of Canadian firms: Survey results and comparisons," International Journal of Production Economics, Elsevier, vol. 70(2), pages 163-174, March.
    6. Ozer, Muammer, 2008. "Improving the accuracy of expert predictions of the future success of new internet services," European Journal of Operational Research, Elsevier, vol. 184(3), pages 1085-1099, February.

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    Keywords

    forecasting; applications;

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