Forecasting Applications

Description

Forecasting

Read through the Case Study entitled “Highline Financial Services, Ltd.” in Chapter 3 of your textbook. Examine the historical trends this company has experienced for the three products (A, B, C) discussed over the 2 years shown. In a 4-5 page paper, not including the cover and reference pages, prepare demand forecasts for the next four quarters for all three products, describe the forecasting method you chose and explain why that forecasting method is best suited to the scenario. Explain why you did, or did not, choose the same forecasting method for each product. What are the benefits of using a formalized approach to forecasting these products?

Be sure to use at least two scholarly, peer-reviewed references in supporting your answer. Current sources are those published within the most recent five-year period, and scholarly sources are those from peer-reviewed journals.

Make certain for each listed reference that you have at least one supporting citation in the body of your content. Your reference page is always the last page of the submission where all individual references get listed

very important comments from the doctor :
Before completing those assignments, read your required information and the interactive lecture. I particularly like the video in your lecture on the Delphi method for forecasting.

With new product forecasting, a new challenge arises in that there is no historical data on which to base the forecast. Units sold may be the appropriate measure, but determining a forecast when nothing is known about consumer demand can be difficult. In your CT assignment this week, you do know some historical data. You are asked in the case from your textbook to prepare demand forecasts for the next four quarters for the three given products. Make sure to describe the forecasting method you chose and explain why that forecasting method is best suited to the scenario.