The total population count for Ontario was obtained from the Statistics Canada census. The population counts for the population aged 65 years and older were generated using the Canadian Socioeconomic Information Management System (CANSIM) table 109-5425. Cataract surgery wait times were obtained from the Ontario Ministry of Health. Statistical analysis was completed using Microsoft Excel using StatPlus software. There are currently 3.28 ophthalmologists per 100 000 total population in Ontario. LHIN-specific ratios ranged from 8.87 (Toronto Central) to 1.67 (Central West), with 3 out of 14 LHINs having met the previously recommended ratio of 3.37. Median cataract surgery wait times ranged from 30 to 72 days. This variation did not appear to significantly influence LHIN-specific cataract surgery wait times.Ĭopyright © 2016 Canadian Ophthalmological Society.Īlthough the number of cataract surgeries performed was positively correlated with the population aged 65 years and older (p < 0.001), there was no statistically significant association between wait times and number of cataract cases per 1000 population (p = 0.41).Īlthough Ontario appears to have a sufficient number of ophthalmologists overall, there is significant variation in the distribution of the ophthalmology workforce at the LHIN level. All rights reserved.In today’s business scenario, different business decisions are aimed at satisfying various needs and desires of society by determining future demand. Also, there is a necessity for the right decision-making in a dynamic and competitive market. These are only possible if the right planning is done for business activities and decisions are taken based on the accuracy of future demand. So, demand is considered an important element to fulfill business goals. Optimum utilization of available resources to meet such demands is only possible once the proper understanding of the demand is there and it is predicted with the required accuracy level. So, we can say that to initiate any business activity, prediction, or forecasting of the demand (demand forecasting) is considered the first stage and further, plans are made to meet the demand. This demand forecasting acts as an input for other business activities such as production planning, manpower planning, capacity planning, and overall planning, etc.The Strategic Importance of Forecasting.Better Utilization of Available Resources.Stages of product life cycle and forecastingĪ process of estimating or predicting future demand through past and present events is considered Forecasting.Forecasting and Product Life Cycle (PLC).Quantitative or Statistical Forecasting. Information on potential future events and their effect on the business can be obtained from forecasting. Though forecasting may not reduce future uncertainty and complexities, still, management becomes confident to make any important futuristic decisions. In other words, forecasting is both a decision-making and planning tool because, through its support, businesses can examine historical data and thus, they can deal with the effect of uncertainty of future also, businesses can plan their further actions and make budgets to cover such uncertainties that may occur in the future. As per Heizer and Render (2010), “Forecasting is considered art and science of estimating future events”. It is defined as an art because to improve the correctness of forecasts, it is required to have subjective assessment along with a contemporary and historical judgment. It is also considered a science because lots of scientific methods are used to have different numbers and further analysis is done through mathematical models to determine the correctness of the forecast.Ģ. According to Louis Allen, forecasting is considered “a systematic attempt to probing the future through inference from facts that are already known”.
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