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Case study - Insight Manufacturing
1. Analyze the historical data, and from that analysis, recommend an appropriate forecasting method for each product. For methods that require a selection of a number of periods, or constants such as weightings or α, you can randomly select typical values for your method.
2. Using your selected forecasting methods, generate forecasts for the historical data and then use some standard measures of forecast accuracy to evaluate your methods. You can experiment with different numbers of periods and/or weights and values of α to see if you can improve the accuracy.
3. Discuss why certain sets of data are better forecast with different methods.
Read the Case Study "Memorial Hospital" located at the end of Chapter 15 in Operations Management: Processes and Supply Chains.
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Obtain a copy of a written contract that is available in Australia from the net or another source. For example you could download one of the many online contracts you are asked to agree to before accessing a site or entering an online contract.
Sam Thompson had just assumed his new role as manager of administration at Data, Inc., a manufacturer of electronic processing equipment. He had worked his way through the ranks since he was hired as a salesperson for the company seven years ago
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