Homework: Operations
This homework is intended to help you learn how to apply forecasting and demand models as part of a business operations plan.
Choose 3 quantitative elements from the company you selected.
Develop forecasts by implementing the following approach:
1) Collect data, including old demand forecast (subjective data) and the actual demand outcomes.
2) Establish the forecasting method (from readings). Decide on the balance between subjective and objective data and look for trends and seasonality.
3) Forecast future demand using a forecasting method.
4) Make decisions based on step 3.
5) Measure the forecast error where applicable. Look for biases and improve the process.
Write a 525 to 700 words paper evaluating and summarizing the findings from the supported data points above. Insert the charts and supporting data from Excel and other tools in your paper.
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
(2) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.