Computed the forecasting error

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Reference no: EM13219868

You are the supply chain manager for an electronics-manufacturing company. In this assignment, you will use the following data to obtain forecasts for your company through various forecasting techniques.

Quarter	Forecast	Actual Demand	Error
4Q 2008	200	220
1Q 2009	220	215
2Q 2009	215	210
3Q 2009	210	220
4Q 2009	220	225
1Q 2010	225	240
2Q 2010	240	255
3Q 2010		260
4Q 2010		270
1Q 2011

Consolidate the results of the following problems in a 2- to 3-page report in a Microsoft Word document. Do not use Microsoft Excel utilities for this assignment.

Using the three quarters moving average, find out the forecasts for 3Q 2010, 4Q 2010, and 1Q 2011.
Compute the forecasts for 3Q 2010, 4Q 2010, and 1Q 2011 using exponential smoothing with a smoothing factor of 0.6.
Compute the forecasts for all quarters of 2010 using the three quarter weighted moving average, with the most recent data weighted at 0.5, the second-most recent data weighted at 0.35, and the third-most recent data weighted at 0.15.
Using the data provided in the above table, explain what forecasting techniques are being used for 2008 and the first two quarters of 2009.
Computed the forecasting error using the exponential smoothing technique.
Computed the forecasting error using the weighted smoothing average method.
On the basis of your calculations, explain which technique provides the most accurate forecast for your company. Explain your answer with critical reasoning.

Reference no: EM13219868

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