Forecasting Essay Examples

The management function within Boots and Sainsburys

Forecasting and planning Forecasting and planning is an important part of everyday business to stay ahead of its competition or just to keep the organisation profitable. Both Boots and Sainsburys must define its objectives and establish procedures to achieve them. Sainsburys Strategic planning: These are long-term plans that are set and carried out by senior… View Article

Modelling and Forecasting Electricity Consumption of the Philippines

In the Philippines, electric power is becoming the main energy form relied upon in all economic sectors of the country. As time goes by, while different establishments and properties were built and developed, the demand for domestic electricity consumption within the country accelerates. Energy consumption is an important index of the economic development of a… View Article

Statistics for Managers

In today’s society, gas and oil prices continue to rise which has a direct impact not only on one’s household but also in the delivery service industry. As prices on gas rise, the impact is felt on the consumer as delivery services increase their prices. While many Americans try to conserve their savings, this places… View Article

Regression Analysis

Regression Analysis is a very effective quantitative forecasting technique for short, medium and long range time horizons and can be easily updated and changed. Regression Analysis: presupposes that a linear relationship exists between one or more independent (casual) variables, which are predicted to affect the dependent(target) variable. Linearity: The observed relationship between the independent and… View Article

Appearance and Weight Issues in the Workplace

1. What are the pros and cons of an airline implementing a policy that larger customers need to buy a second seat? The pros of an airline implementing a policy that larger customers need to buy a second seat is that the weight capacity regulations will be adhered to. I don’t know of a lot… View Article

Supply Chain Rules of Effective Forecasting

Q1: Write a summary about the six rules of effective forecasting? Paul Saffo is the author of the article of six rules for effective forecasting. He points out that effective forecasting is very different from accurate forecasting as it is possible that a forecast is effective but it may or may not be accurate. Accurate… View Article

Forecasting the future

These are the factors that affect the whole sectors of the economy. Their effects are felt through all the facets of the economy and are usually key economic indicators that drive the economy of the country. Some of these factors are employment rates, personal finances, inflation, gross domestic product, deficit-trade and Budget, exports and imports,… View Article

Capacity and Demand Planning in Coca- Cola

Coca-Cola is an American multinational beverage corporation that was found on 1892 by Asa Candler and is a manufacturer, retailer and marketer of non-alcoholic beverage concentrates and syrups. Coca-Cola operate in a make- to -stock enviroment. This process can help to provide faster service to customers from available stock and lower costs considering Coke normally… View Article

Demand and Supply Planning

Abstract This paper demonstrates the concept of Supply Chain and the understanding of its different parties. How existing practices in demand planning improve forecast accuracy with advanced statistical forecasting capabilities and how demand planning is different than other SCM parties in structuring flexible hierarchy models & inventory integration. In addition to explore the Integrated Demand… View Article

Financial Forecasting – Time Series Models

The economic recession felt in the United States since the collapse of the housing market in 2007 can be seen by various trends in the housing market. This collapse claimed some of the largest financial institutions in the U.S. such as Bear Sterns and Lehman Brothers, as they held over-leveraged positions in the mortgage backed… View Article

Capacity Planning

In this paper we will illustrate three basic steps for capacity planning: 1. Determine Service Level Requirements The first step in the capacity planning process is to categorize the work done by systems and to quantify users’ expectations for how that work gets done. 2. Analyze Current Capacity Next, the current capacity of the system… View Article

Projected Total Sales of Sundance Direct Sales

Introduction Billboards, signage and eye-catching advertisement paraphernalia of different direct selling companies are sprouting everywhere, either local or international. Many companies established names and compete to prolong their standing in the business world. Defined in, direct selling is a face to face presentation, demonstration, and sale of products or services, usually at the home… View Article

Yankee Fork and Hoe Company

A. Synopsis Yankee Fork and Hoe is a leading producer of garden tools which is a mature, cost sensitive market. Currently the firm is falling behind on on-time deliveries. This is due to the lack of utilizing a good forecasting method. Alan Roberts, the president of Yankee Fork and Hoe, has hired a consultant to… View Article

Island Shades Case Study

The case story Island Shades describes a great example of how to present an effective goal with the proper steps. Terry’s goal was very detailed on her present and future goals. She set up her objective creating the idea of selling good quality eyewear to consumers. She also has identified her options of affordable inventory… View Article

Forecasting Lost Sales Case Study

Carlson Department store suffered heavy damage from a hurricane on August 31. As a result the store was closed for four months, September through December. Carlson is in dispute with its insurance company regarding the lost sales for the length of time the store was closed. Section II: Problem Identification Two issues to address are… View Article