Forecasting Essay Topics

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 businessdictionary.com, 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

Qualitative forecasting techniques

Qualitative Forecasting Approaches Qualitative forecasting methods are based primarily on human judgement. Quantitative forecasting methods are based primarily on the mathematical modelling of historical data. Here we provide a brief overview of the most important qualitative forecasting approaches. In many environments the time horizon is closely linked to the type of forecasting method used. Longer… View Article

Leitax Case Analysis

QUESTION 1 Digital camera market has enjoyed tremendous growth since it was introduced in the photographic industry. Starting in 1998, price has been falling rapidly. In addition, the development of CMOS allowed digital camera to not only capture professional market, but also enter consumer market. It was estimated that in 2006 forecast would peak with… View Article

Business Forecasting Assignment Operations

Business forecasting is the process of studying historical performance for the purpose of using the knowledge gained to project future business conditions so that decisions can be made today that will aid in the achievement of established goals. Forecasting plays a crucial role in today’s uncertain global marketplace. Forecasting is traditionally either qualitative or quantitative,… View Article

Forecasting Techniques

The objective of this assignment is to investigate different business forecasting methods, and demonstrate the benefits of their use for a specific organization. We have learned that demand forecasting invokes the processes of determining exactly what service/products are needed, in what quantity, and in what amount of time. Organizations that are able to implement effective… View Article

M& L with details calculation

What are some of the potential benefits of a more formalized approach to forecasting? Q2.Prepare a Weekly forecast for the next four weeks for each product. Briefly explain why you chose the methods you used. Forecasting helps to predict the future orders, in turns it ensures customers demands are constantly being fulfilled; which eventually makes… View Article

The Body Shop International Case Study

1. The assumptions that were used to derive the numbers in this forecast were found by taking the averages of the historical data that was given for 1999-2001. Instead of using the assumptions that were given by The Body Shop, I thought it would be more practical to use the trends shown in the historical… View Article

Highline Financial Services

Every origination needs to separate themselves from their competition. From offering the newest and latest products to offering outstanding service. Highland Financial Services Itd. Is no different from other companies. Standing out from other organizations is critical for the company’s success. Managing partner Freddie Mack must use the information that he has been provided with… View Article

Bottlenecks That Face Riordan Manufacturing

China plant operates as a decentralized unit of Riordan Manufacturing. Parts are purchased by buyers in the China Plant’s purchasing department from a local Chinese company. While this company attempts to maintain adequate quantities of electric motors in stock to meet all its order requirements, its on-time deliveries over the past year have averaged only… View Article

Process Design for Riordan Manufacturing

This paper discusses the proposal package for Riordan, which handles each step of electric fans from inception to production. The paper also includes the material requirement-planning phase of fans being manufactured at the China Plant. An analysis of the existing production process of the Riordan electric fans provides the basic outline for designing the new process… View Article

Example Rates: USPS Versus UPS

With the USPS flat rate boxes, “if it fits, it ships,” (up to 70 pounds), making the service especially good for dense or heavy products. As an example of just what this might mean, HYPERLINK “http://thechive.com/2011/04/05/the-usps-flat-rate-box-claims-that-if-it-fits-it-ships-or-does-it-20-photos/” TheChive website blogged about flat rate shipping early this month. The blog post’s author shipped nearly 60 pounds of… View Article

Valve Steams Ahead

Value is a software company that views it’s day-to-day business structure in what only can be described as organic and flat. No planning, procedures or organizational structure is claimed by the company to be “A barrier against codified decisions of labour” (Valve Corporation, 2012), which leads to no long term business goals and no clear… View Article

Manging the Springfield Herald

SH 13.1 – What criticisms can you make concerning the method of forecasting that involved taking the new subscriptions data for the prior three months as the basis for future projections? – 3 months is a valid for comparing quarterly growth retroactively, but more time is needed for a valid future forecast. – Are there… View Article

Chase Strategy

What are some of the challenges associated with using the chase strategy and why? The chase strategy is one of three production strategies for aggregate planning in use today. Chase strategy is a form of demand matching. This is done by forecasting the expected demand set by previous sales or projected sales. The purpose of… View Article

Business Modeling

Ted Ralley is working on conducting a forecast for the upcoming year for an automobile part company. The data that will be used for this research has been collected from the quarterly sales from the previous four years. Ted wants to determine what is most accurate way to determine the forecast for 2008. The model… View Article

The Glass Slipper Restaurant

For years The Glass Slipper restaurant has operated in a resort community near a popular ski area of New Mexico. The restaurant is busiest during the first 3 months of the year, when the ski slopes are crowded and tourists flock to the area. When James and Deena Weltee built The Glass Slipper, they had… View Article