Free Essays on Forecasting to Get Inspired & Learn by Example

Introduction

Background of the Company
Putzmeister South East Asia Pte Ltd is a subsidiary Company of Putzmeister Group that was founded in Germany and has its headquarters in Aichtal. Putzmeister South East Asia Ct Pte Ltd was established in 1996 with the aim of promoting the sale of Putzmeister products in the larger South East Asia. The company is a well-established company that has over 3000 employees and a large market share of over 680 million euros. The main company’s focus is on parts supply, equipment, service and maintenance of concrete pumping equipment (Backaler, 2014). Putzmeister South Asia is Continue reading...

Article 1: Forecasting and optimization combined

The article presents an interesting view on supply chain and the utilization of forecasting and optimization in order to manage the transportation networks. It becomes essential for companies as well as suppliers to ensure that they are able to manage an effective network based on optimized cost as well as ensure efficiency. Forecasting can help the organizations ensure that they are well prepared to fulfill the possible demand and ensure effective arrangement for supply chain to be reflexive. But at the same time it becomes important for them to ensure that they maintain better focus on developing an overall Continue reading...

Introduction

Capacity planning refers to the process of forecasting demand and adjusting supply accordingly by ensuring that the capacity of the organization or the manufacturing plant in terms of resources and manpower is accordingly planned (Ritzman, et. al., 2004). Capacity planning methods form an important aspect of operations strategy in the organization. It forms the basis of all of the supply chain strategies of the organization and this makes it an important element in managing the operations of the organization (Wescott, 2013).
A key focus of capacity planning is helping in the determination of the level of capacity of the Continue reading...

In this essay we will perform different approaches to make a forecast of sales volume in 2010 year with the given data. Modern statistical forecasting methods are exponential smoothing models, with an autoregressive moving average of econometric equations based on both parametric and non-parametric approaches on.
At first glance, to decide which method is appropriate to use for this data it is better to look at the line graph:
It seems that 3 year weighted average method is appropriate to use here. However, I check all methods mentioned in the conditions of the task.
Moving average method is easy Continue reading...

Question 1

Describe the different types of costs associated with inventory.
Inventory costs can be divided into three main categories, namely purchase costs (the cost of procurement), storage costs (maintenance) and costs related to the lack of goods (shrinkage). Purchase costs (also called as the costs of order preparation, especially when it comes to production), or restocking are economic consequences caused by direct orders, that is, costs that arise every time the company place customer’s order. These costs can be divided into two parts: the costs directly for the placement of the order (they can be persistent and do not Continue reading...

P&G’s success strategy in the market place are; Continuous focus on the company’s core business and continuous focus on the company’s leading brands, customers and countries with the aim of growing the market share in its core categories. The company has a strategy of growing leading brands and winning customers. Besides the company has a strategy to continuously develop higher-margin, faster-growing, more efficient health and beauty care business with a worldwide leadership potential. P&G has the strategy of continuously investing in lower-income clients in the developing market with the aim of increasing its market share in Continue reading...

1. Why must small business owners concentrate on effective cash flow management?
Cash acts as a blood of a business and cash flow is the blood vessel that enables the business to lead a health operation. An effective cash flow is required to maintain the regular expenditure of the business. Without enough fund or cash, a business cannot proceed with its operations. It has been seen through research that most of the small business faces the problem of cash flow management that creates irregularity in the operations of the organization (Scarborough, p. 234). This occurs because small business has Continue reading...

1.0 The money market and its transactions
The money market is the center of credit exchange in the United States and around the world. It is where businesses (local and global), governments (local and global), and individuals (local and global) borrow or lend short-term credit instruments usually for a term of 1 to 120 days (Kidwell & Peterson, 1987). Instruments include the U.S. Treasury securities (e.g. Treasury bills), negotiable certificates of deposit (time deposit), commercial paper (short-term unsecured promissory notes), banker’s acceptances (time drafts), and repurchase agreements (sale of short-term security or collateral). However, the U.S. Treasury bills are Continue reading...

Trend Analysis

Trend analysis can be described as the process whereby data from present and past activities of an entity are compared to identify a consistent outcome. The outcome so identified can then be used to predict what future results would be or are likely to be. It helps in forecasting the future and hence, making it possible to plan for the future. When trend analysis information is used well by a business entity, for example, it will help the entity have a competitive edge over the rest. The entity will predict the possible future needs of the industry and plan Continue reading...

Business

Introduction
The sales data is to be analyzed using a number of forecasting methods, in order to arrive at the most appropriate forecasting method.

Simple Moving Average

The simple moving average method would appropriate equal weightage to all prior data. The number of time periods in the past to be taken into account is not specified in this case. Hence, it is assumed that the entire historical data (year 2000 to 2009) would be taken for arriving at the simple moving average. The average of the entire data is arrived at by calculating (900+ 1400+ 1750+ 1900+ 1700+ 1500+ 2000+ 1950+ 2250+ Continue reading...