User Account

All Pages

Forecasting and demand models-business operations plan

Assignment Help Operation Management
Reference no: EM133065605

This assignment is intended to help you learn how to apply forecasting and demand models as part of a business operations plan.

Choose 3 quantitative elements that you would like to research in relation to the organization that you selected for your business plan. These elements may be related to products, services, target market, consumer preferences, competition, personnel, resources, supply chain, financing, advertising, or other areas of interest. However, at least one of these elements should be related to a product or service that your organization is planning to offer.

Develop forecasts by implementing the following approach:

Collect data, including old demand forecast (subjective data) and the actual demand outcomes.

Establish the forecasting method (from readings). Decide on the balance between subjective and objective data and look for trends and seasonality.

Forecast future demand using a forecasting method.

Make decisions based on step 3.

Measure the forecast error where applicable. Look for biases and improve the process.

Reference no: EM133065605

Questions Cloud

About business career or role : What do your findings suggest about a business career or role? Will your findings change a specific role in business? Why or Why not?
Explain sufficiency as it relates to audit evidence : Explain sufficiency as it relates to audit evidence. Discuss the qualities that are necessary for audit evidence to be appropriate
Pro?t maximizing level of output : Draw the demand, marginal revenuer average total cost, and marginal-cost cunre for a monopolist. Show the pro?t maximizing level of output
Learned about the global supply chain : What Have We Learned About the Global Supply Chain Living through the Pandemic?
Forecasting and demand models-business operations plan : This assignment is intended to help you learn how to apply forecasting and demand models as part of a business operations plan.
Make the machinery sale to moldova : Is there a way that you can think of that American Machine Tools might be able to make the machinery sale to Moldova?
Find current market p and market q : You will use this information to answer this question PLUS the next three questions.
Nominal gross domestic product : 1. In a conversation, a friend said, "Australia's economy grew between 2015 and 2017 because nominal gross domestic product (GDP) increased from 945 billion in
Identify the range of output exhibiting increasing : Last year, your company purchased a site license to the accounting software suite CookTheBooks® for $14,900. Yesterday, your IT department discovered that the s

Reviews

Write a Review

Operation Management Questions & Answers

  Determine its average hourly production rate

Average setup time on a certain production machine is 4.0 hours. Average batch size is 48 parts, and average operation cycle time is 4.2 min. The reliability of this machine is characterized by mean time between failures of 37 hours and a mean time t..

  Organization for innovation and depth of knowledge

When it really comes down to it, managing an organization for innovation and depth of knowledge has to do with Absorptive Capacity. Discuss this comment from the perspective of the individual and the organization, the role of prior knowledge and t..

  Interest in forecasting and forecasting errors

Your boss recently returned from a executive development conference and has taken a new interest in forecasting and forecasting errors.

  Dominant economic characteristics

Dominant economic characteristics (market size, ease of entry/exit, economies of scale, e.g.)

  Mainly concerned with the tendency to overlook differences

This chapter seems to be mainly concerned with the tendency to overlook differences. But what about similarities? Is there not value in being able to abstract them from a situation?

  Describe how the supply chain supports each advantage

Give three examples of the advantages that Zappos offers customers and describe how the supply chain supports each advantage.

  Discuss at least two self-interested reasons

Discuss at least two self-interested reasons that a top earner might favor policies to redistribute income.

  Personnel agency and audio visual installer and developer

Personnel Agency (“Personnel”) and Audio Visual Installer and Developer (“Audio”) had telephone discussions

  Analyze the hospice industry for opportunities and threats

You will present your analysis to senior management. There are several SWOT analysis examples on the Internet that you may access and use, including Excel spreadsheets.

  What might affect the availability of these options for mary

In general, what options are available to an individual in filing bankruptcy? What might affect the availability of these options for Mary?

  Federal equal employment opportunity laws

What is the nature of the significance of the issue of the federal equal employment opportunity laws to you as a government administrator and why?

  What would long-run supply curves look like for commodities

We all understand the idea of buying low and selling high, but Mr Smith is unique. He wants to sell high and buy low, and wants to ‘short’ a commodity. You explain to Mr Smith that, while it may seem impossible, or at least dishonest, to sell somethi..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd