Choose 3 quantitative elements from the company you selected. Note: If you are able to find old demand and actual data for only one item, you may complete this assignment by using the data for the single item and developing a forecast for the next period using three different forecasting techniques.
Develop forecasts by implementing the following approach:
Collect data, 10 periods minimum, including old demand forecast (subjective data) and the actual demand outcomes.
Establish the forecasting method (from readings). Decide on the balance between subjective and objective data and look for trends and seasonality.
Forecast future demand using a forecasting method.
Sample Solution