Reference no: EM132324761
Assignment -
Need help in finding out a solution of a case study. Please see the attached file.
There are 4 products sales trends are attached herein with a specific time frame.
Questions are given below:
I. Can you please guide me what about the patterns according to the sales data provided & what about its forecast?
II. Please suggest which forecasting method will be the best fit for each products and reason for choosing the forecasting method in brief.
III. How we wrap up the results in brief? Do the applied methods of forecasting really work well? Conditions if any?
IV. If you have any suggestion or advice to improve the methods?
V. Would appreciate if you plz outline the supply chain plan based on the above?
Note: Any statistics, graphs, and interpretations can be produced while analyzing the data.
To analyze the above data in Excel format (attached) will be based on below 4 major forecasting methods and 3 measures of forecast accuracy
- Naive Forecast
- Cumulative Mean
- Moving Average
- Exponential Smoothing
- Mean Error
- Mean Absolute Percent Error
- Mean Squared Error
Just want to know that, in your opinion which will be the best forecasting method to be eligible to apply here in this case.
Attachment:- Data File.rar