i am doing a project on various methods used in Manpower planning and would like to get your views on the following aspects:
1. Which is the most often used method for demand forecasting by the HR department in a company ? and Why ?
2. Are the following methods of demand forecasting redundant or are they used in the industry currently? If used then which industries use them ? also, please give me the relative advantages and disadvantages of these methods:
Ratio Trend Analysis
Work Study Techniques
Markov models (Flow Models)
New Venture Analysis
3. If Delphi Technique is used – even though the technique is costly why does a company use it compared to a managerial judgement technique in which you know the company inside out ?