Quantitative and qualitative methods for forecasting sales, Applied Statistics

OmegaPlus Pty.Ltd. is a chain of Health Food stores operating in Australia: with 12 stores across Sydney, Melbourne and Brisbane. OmegaPlus has recently appointed a new CEO: Sandy Smith, who is open to the idea of quantitative forecasting methods, and is aware that various data have been collected for about 5 years now. However, quantitative forecasting has not been used at OmegaPlus before, mainly due to resistance by the Sales Manager: Dave Chen. Dave prefers talking to the shop owners and sales staff across the states to help assess trends and then forms 'consensus' forecasts from these discussions. The main quantity that requires forecasting at OmegaPlus is sales revenue.

(i) List 3 important issues that must be discussed and decided upon BEFORE Sandy chooses between her favoured quantitative method and Dave Chen's qualitative method for forecasting sales at OmegaPlus. Briefly explain why each issue is important to consider at this initial stage.  

(ii) List 3 issues (AT MOST 1 can be the same as the 3 in part (i)) that would help OmegaPlus decide between quantitative and qualitative methods for forecasting sales. Explain why and how each issue will help to allow a decision between the two types of method in this case.

Posted Date: 3/1/2013 2:05:38 AM | Location : United States







Related Discussions:- Quantitative and qualitative methods for forecasting sales, Assignment Help, Ask Question on Quantitative and qualitative methods for forecasting sales, Get Answer, Expert's Help, Quantitative and qualitative methods for forecasting sales Discussions

Write discussion on Quantitative and qualitative methods for forecasting sales
Your posts are moderated
Related Questions
The data le for this assignment is brain-body-wts.txt, which lists the averages brain weights (gm) and body weights (kg) for a number of animal species. Your task is to t an appr

how do i determine the 40th percentile in an ogive graph



Application of the chi Square Test

it is said that management is equivalent to decision making? do you agree? explain

The prevalence of undetected diabetes in a population to be screened is approximately 1.5% and it is assumed that 10,000 persons will be screened. The screening test will measure

Descriptive Statistics : Carrying out an extensive analysis the data was not a subject to ambiguity and there were no missing values.  Below are descriptive statistics that hav

Examine properties of good average with reference to AM, GM, HM, MEAN MEDIAN MODE

find the average rate of increase in population which in the first decade has increased 20%.in the second 25% and in the third 44%