Description of this paper

Krystyna Smith is the operations manager for Waynes IceCream Parlor,

Description

solution


Question

Waynes IceCream Parlor.;Krystyna Smith is the operations manager for Waynes IceCream Parlor, an ice cream;manufacturing and retailing company. The company produces over 20 flavors of ice cream.;Krystyna does not have a good understanding of how the company forecasts demand for ice;cream because it is coded into the companys ERP system, and there is no documentation;detailing how forecasts are calculated. In order to assess how well the system is forecasting;she has selected one representative flavor. She has asked you to recommend a forecasting;method. Utilize the data in the table to address the following issues;1. Recommend a yearly forecasting method for this flavor based on a review of the data. In;doing so, you would need to compare three forecasting methods (trend projection among;them) and, then, recommend the most accurate one.;2. Forecast demand for the next two years;3. Forecast demand for Jan, July and August in the following year;4. Evaluate the performance of the three forecasting methods using common measures of;forecast error (e.g., MAD);5. Please provide numerical support for your recommendation;Month Year 1 Year 2 Year 3;Jan;5000;5200;5300;Feb;5500;5400;6200;Mar;5300;5500;5800;Apr;7500;7700;8300;May;8000;8600;9000;Jun;8700;8900;9500;Jul;9300 10000;9800;Aug;10400 10700 11400;Sep;8300;8700;8500;Oct;7400;7900;8000;Nov;4500;4700;4800;Dec;4100;4300;4600

 

Paper#30480 | Written in 18-Jul-2015

Price : $27
SiteLock