Which of the following is the first step in a forecasting system?
a. determine the use of the forecast.
b. select the items to be forecasted.
c. determine the time horizon of the forecast.
d. select the forecast model(s).

a-Determine the use of the Forecast

Explanation:

The first step in a forecasting system is to determine the use of the forecast .

Forecast is a technique which uses previous data and reports to find the expected outcome of that particular event.

For example sales of a component A in next month provided its previous month data is available. Forecast may not reduce complication but it can give us an estimation of expected future event.