Forecast Course Works Samples For Students

Introduction

Riordan Manufacturing is a principal global manufacturer dealing with parts, fan parts and plastic containers. It is entirely possessed by Riordan. However, in the year 1992, Riordan manufacturing plant was procured from Michigan. Later in the year 2000, Riordan was moved to China (Chase et al., 2011). The fan parts manufacturing are scheduled based on the forecasted production using the average records obtained from sales conducted in three years. Its strategy is centered on making stocks that benefit customers who urgently need products with most orders filled immediately received from inventory (Soares et al., 2009).

Riordan often analyze its strategies ...

Origin and Development

The terminology, bullwhip effect, originates from the reality, according to which a light motion of the handle of a bullwhip can results in making the tip of the belt flay wildly at speed more than 800 miles per hour, about 20 percent quicker than speed of sound, producing a sonic boom. One of the major issues occurred at the time of implementation of supply chain is Bullwhip effect. Bullwhip effect was firstly announced by Procter and Gamble Company (Gundlach and Murphy, 2000). Bullwhip effect refers to the increase in inconsistency of orders as one goes up a supply chain. The Bullwhip effect can ...

Introduction

For any company to maximize profits, it must try to implement Just in Time (JIT) demand based system, forecast driven system or lean manufacturing. This is done while considering their advantages and disadvantages i.e. how they affect the company in terms of workers and the equipment they use. Companies must also dispense proper management so that production of goods and services is increased (Perry, 2008).

Body

In the manufacturing industries, JIT demand based systems are used in operations management. They need accurate specification and handling of materials to attain minimal inventory levels. They also use stock as a market defense in ...

Management Accounting is that branch of accounting in which crucial accounting information is provided to managers of the organization to facilitate in sound decision making in order to have rational decision making.

Referring to the Institute of management accounting website under resources and publications section, I am not surprised by the topics of management that have been prioritized. The topics of interest are cost/management accounting techniques Activity based costing (ABC), statistical process control, Target costing, Theory of constraints and Methods of calculating stock options. These topics provide the most relevant information to the management. For instance, ABC costing ...

Introduction

The travel capacity of Lafayette Regional Airport is expected to expand significantly by the year 2034. Therefore, there is a need to expand its facilities to meet its increasing demand. In this paper, we investigate the a few requirements of Lafayette airport expansion. This will include primary and terminal access roads, terminal curb frontage, automobile parking facilities, warehouse/office facilities, cargo apron requirements, and air cargo acreage requirements.
4.5 AIRPORT ACCESS AND AUTOMOBILE PARKING REQUIREMENTS

4.5.1 Primary and Terminal Acess Roads
Terminal access roads serve airport passengers, visitors and employees and connect primary airport access roads with terminal building ...

The cost which the organization incurs the production and acquisition of products and services which it intends to sell is very important. The pricing strategy of the organization is significantly affected by costs. Therefore, costs designed to tackle the challenges of the economic and the noneconomic factors very efficiently. The objective of the costing models is to categorize the factors of the marketing objectives of the company and the mission of the company (Gitman, 2003).

Accurately determination of cost is important in organization to remain profitable. Costing does not only require including direct and indirect cost associated with business ...

Abstract

In today’s competitive landscape, an organization must employ all possible means within reach to maximize growth and profitability by focusing on strategic marketing. Classic Airlines has the opportunity and resources to alter the landscape of the airline industry in its favor. In order to succeed, Classic Airlines must correctly forecast market potential and future demand, by establishing both short- and long-term marketing objectives.

Classic Airlines

Classic Airlines faces an organizational issue requiring urgent solution. The current internal and external marketing programs have not been able to satisfy the needs and wants of the stakeholders. Classic Airlines customers have resorted to ...

1) Describe how to formulate and test hypothesis about a population mean and/or a population.

A hypothesis essentially refers to the prediction of the expected outcome of a research process. When one intends to research a particular subject, event or outcome, he ought to state his expected outcome. There are two types of hypotheses; null and alternate hypotheses. The null hypothesis refers to what the researcher is trying to nullify, disapprove or reject. In testing the hypothesis, the researcher attempts to prove the hypothesis either wrong or right. In hypothesis testing, the researcher needs to first state both the null and alternate hypotheses. The researcher then needs develops an analysis plan which describes how to use ...

Critical path method is used in planning the implementation of projects. It ensures that activities are finished on time. In this regard, the method helps identify the activities that are critical to the project such that if the activity on the critical path is delayed, the completion of the whole project is also delayed. A critical activity is found out by determining the earliest start time, latest start time, earliest finish time and the latest finish time. In this case, an activity is critical if its earliest start time equals latest start time and earliest finish time equals latest ...

Marketing forecasting is important so that a demand is met with an adequate supply. I used to work in a daily printed newspaper, which required a daily forecasting for potential sales. In this capacity, I reviewed different types of reports to forecast the needed quantity the market would need the following day. The market potential (maximum sales) is determined by the distribution company, which distributes all the printed publications issued in Saudi Arabia. The second step to determine the amount of sales can be achieved for the printed newspapers is known as a Market Forecast. This amount of sales also can be affected ...

Planning for the impending days is a critical aspect of managing any organization. Forecasting can be broadly considered as a technique of estimating different aspects of a business or organization. The success of financial forecasting largely depends on the availability of data. Forecasting enables an organization to develop the best strategies of dealing with future scenarios. It creates a possible accurate picture of the future. There are various useful sources that can provide economic data as well as economic forecast data that can be used in economic analysis.

Historical economic data can be found in two sources namely; U.S. Department of Commerce and ...

1) What's the difference between skill and accuracy in weather forecasts?
There is World Weather (GSP), which incorporates the National Weather Service. It has three global centers: Moscow, Washington and Melbourne. On the territory of the meteorological stations, systematically the observations of the weather are held. The meteorologist has to be accurate in his forecasting and use scientific methods in his investigations. Accuracy is, on my opinion, the fidelity of the researches and final data. Skill in the weather’s forecasting is meteorologist’s proficiency and competence in predicting the weather, as it is a very difficult job, ...

The first table presented a matrix of correlations coefficients for Exam performance, Exam anxiety and Time spent revising. It was found that performance in exam was negatively linked to exam anxiety; the Pearson Correlation was r = −.441. P value was less than 0.05 so this relation is significant. It was also found that exam performance was significantly positively correlated to time spent revising; r = 0.3967 and p < 0.001. Lastly, exam anxiety appears to be significantly negatively linked to time spent revising (r = -0.709, p= 0.000). The above Descriptive table presented the mean and standard deviation of all the four ...

Sony Company

Profile and Background of the Sony Company

Sony Company is one of the world most popular companies when it comes to electronic. This is for the main reason that it provides unique devices. For an exceptionally long period, Sony Company has produced different gadgets. The wide variety of the gadgets produced by the Sony Company has been of significant use to the society. This is because machines make the lifestyle of the human beings simpler. The Sony Company was established in Japan with extremely minimal amount of money (Flugge, 2008, p. 95). However, the company has slowly matured from ...

Which set of factors has been more important in driving globalisation in the last fifty years, technology or international trade liberalisation agreements? Use specific examples in your answer.

Introduction

Globalisation in a sentence can be defined as the growing interdependence of the world economies. It is a continuous process and is not the final outcome, and due to globalisation the world economies become dependent on each other culturally and economically (Friedman, 2006). This term was first used by an American economist Theodore Levitt in the year 1983 (Stiglitz, 2007). The main factors that drive the globalisation process can be removal and reduction ...

Summary

In the unpredictable world of the financial management environment, organizations that are responsible for managing its investment risk experience lots of challenges. Their efforts and strategies are crucial in terms of its risk management; the risk management process highlights the importance of well-implemented health organizations that follow the steps broadly. First, organizing a cross-functional team that defines the priorities set in the risk management of the organization. Second, educating every individual that are part of the significant aspects linked in the risk management. Third, promote an environment with collaborate support through open communication from every member of the organization. The ...

International Business – Outsourcing or Reshoring?

Introduction

Companies outsource their key processes to third parties for many years, but, perhaps, at the turn of the 21st century, the term “outsourcing” began to gain momentum. Around this time, the companies began to engage third parties to perform the work in other countries – a process known as offshoring – in large emerging markets. The process of offshoring has attracted political and public attention because of concerns that it is destructive to the internal labor market. In this regard, a process of reshoring (the return of production from abroad), but such factors as cost and efficiency of business ...

Amortization of prior service cost listed under pension expense is an example of a fixed cost. Fixed costs remain unchanged due to changes in operations and this cost remains unchanged at $ 15 million in both 2012 and 2013 financial years. Amortization involves the paying off of a debt through a fixed schedule in regular installments. Interest costs are another example of fixed costs. This is because financing costs are fixed based on the rate agreed for repayment of debt. Any changes in the operations of an organization will not affect the amount of repayment costs paid out to both short term and ...

- Situational Analysis

Blackberry is a Canadian company dealing with telecommunication and wireless devices. The company is mainly renowned of manufacturing some of the most outstanding devices in the mobile industry. Following the improvements being witnessed in the modern technology, mobile phones are extremely critical as they had their equal share of influence. However, as time elapses changes are being witnesses in the technology world. Devices are being improved from time to time (BlackBerry, 2013).

The extensive exposure of modern technology in mobile development has been critical in defining competition in the market. The mobile industry has experienced extensive duplication of devices through ...

According to gartner.com the usual set of 4 “drivers” involved with CRM are now joined by a fifth equally important “driver” called the “internet of things” (gartner.com).

In her article published in the Market Realist website titled “Salesforce’s growth strategy focuses on the Internet of Customers” Samantha Nielson explains how the CEO of Salesforce Marc Benioff is looking to fit in his marketing startegy to the current US market and benefit from the new “Internet of Things” by pivoting to his customers.

Salesforce 1 technology works as a “custom publisher”. Developers can utilize Salesforce1 ...

Overview

In developing a schedule and a budget, there are different important tools that are essential in ensuring that there is effectiveness. To have a budget that meets the predetermined objectives, it is important to have a baseline operation strategy that would ensure that there are no deficiencies in either during the schedule and budget development or after. There are a number of tools that can be employed in developing a schedule and a budget. Some of the tools that will be used in this case include revenue projection tool, capital budgeting tool, cash flow forecast and profit and loss projection tool.

Revenue projection tool

It is a tool that is ...

Forecasts are a basic input for operations managers because they provide information on future demand. There are two broad categories of forecasting tools: qualitative techniques and quantitative techniques. Qualitative forecasting is appropriate when there is the availability of historical data and the relationship among the variables involved is expected to remain unchanged in the future. This kind of sales forecast is based on historical data especially in food and beverages where it requires accurate and well maintained past sales data. Qualitative tools permit information such as human factors, and personal opinions in the forecasting process. These opinions may include executive ...

Regression is used to analyze the situation among variables; this is done by estimating a relationship. Regression can be simple with one independent variable (x), multiple which has more than one variable; in this model there are multiple regression model that are characterized with a k variable that is independent. Linear where the y variable are with parameters that are to be estimated and one value in an equation not an error item. For example the general use of indicators of economy, for instance the Dow Jones consumer price index and the industrial average that a producer or a suppler can use to ...

Introduction

The purpose of this report is to provide information on the effect of unemployment rates on consumer spending and relate it to the viability of retail operations. The establishment that operates a retail store already has an idea regarding the impact of unemployment rates on consumer spending, that is, when unemployment rates are high the consumer spending is affected negatively. This is an intuitive assumption since people who do not have jobs or are underemployed will have less money to spend for goods that are not necessities; thus to remain competitive and efficient, retail operations would try to contain their ...

When companies at the end of a supply chain make changes in their orders, whether they add or reduce them, these changes are said to be progressively amplified for operations as they move back through the supply chain. The changes create some sort of a ripple effect throughout the length of the supply chain moving back from where those production decision changes have been made.

Bullwhip effect was the description coined by Procter and Gamble management when they noticed an amplification of information distortion as order information was relayed back up the supply chain (Buchmeister, et al, 2008). It is also ...

1. What factors might make some industries harder to pioneer than others? Are there any industries in which there is no penalty for late entry?

Entry into an industry is determined by several factors. One of the factors is the observation of the set conditions for entry in the industry. For example, capital size and level of production may be some of the conditions. Technology awareness may be another key factor in entry into an industry (Cantner, 2007).  As a method of controlling late entry, many industries impose charges on late entry curbing the behavior. It is termed as ...

Question 1

Selling has a place in the marketing mix and sales managers see that personal selling as one component of its promotional decision area. Selling prompts a variety of responses. In the marketing mix, it evokes a high percentage of hostile and negative responses that include dishonest, immoral, degrading and wasteful. Good things selling themselves is a phrase that people use since selling start and it depicts its place in the marketing mix.

Question 2

In the marketing concept, there a slight difference between production orientation, sales orientation and marketing orientation. In Production orientation, company focuses on the production in an economic climate and the potential demand ...

Global automobile sales in China

Auto sales in China have been increasing steadily over the recent years causing the country to record the highest sales in the world, a position that had been dominated by the United States. Several factors have contributed to the current situation. There have been government policies that have encouraged car consumption among the consumers.
The government reduced car purchase tax by 50% and the road toll was cancelled. There were incentives such as old for new service of cars and automobiles in the countryside had their prices reduced. The lower prices caused the consumers caused the country to rank ...