Forecasting Applications – operations management

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. The Saudi Digital Library is a good resource to search for these references. Submit your presentation into the Assignment Dropbox.

It is strongly encouraged that you submit all assignments into the TurnItIn Originality Check prior to submitting them to your instructor for grading. If you are unsure how to submit an assignment into the Originality Check tool, review the TurnItIn Originality Check – Student Guide for step-by-step instructions.

In APA, there must be 100% match between references and citations. If a source is shown in the references, it must be cited at least once in the body of the paper/post if a discussion. If a citation is in the text, it must be shown in the references. Items not shown appropriately for either citations or references are not counted in the source requirements for assignments. Citations tell the reader what information came from your source.Please use citations any time you have a reference. for example:

As we learned this week, forecasting is the “basic input in the decision processes of operations management because they provide information on future demands” (Stevenson, 2015, p. 75). Steps in the forecasting process include the following

the case study:
Highline Financial Services provides three categories of service to
its clients. Managing partner Freddie Mack is getting ready to prepare
financial and personnel hiring (or layoff) plans for the coming
year. He is a bit perplexed by the following printout he obtained,
which seems to show oscillating demand for the three categories
of services over the past eight quarters:
Service
Year Quarter A B C
1 1 60 95 93
2 45 85 90
3 100 92 110
4 75 65 90
Examine the demand that this company has experienced
for the three categories of service it offers over the preceding
two years. Assuming nothing changes in terms of advertising
or promotion, and competition doesn’t change, predict demand
for the services the company offers for the next four quarters.
Note that there are not enough data to develop seasonal relatives.
Nonetheless, you should be able to make reasonably good,
approximate intuitive estimates of demand. What general observations
can you make regarding demand? Should Freddie have
any concerns? Explain.
Service
Year Quarter A B C
2 1 72 85 102
2 51 75 75
3 112 85 110

Sample Solution

ACED ESSAYS