Assignment task:
Bordoloi et al. (2022) explain, "Forecasting techniques allow us to translate the multitude of information available from databases into strategies that can give a service a competitive advantage" (p. 399). There are several types of forecasting, but I believe Chick-fil-A would benefit best from passive demand forecasting. The Fulfillment Lab's article states, "Passive demand forecasting doesn't require statistical methods or analysis of economic trends; it simply involves using past sales data to predict future sales data" (n.d.). Because Chick-fil-A is a cyclical business depending on the market, sales volumes will vary month to month, and even day to day. A restaurant could make $20,000 in sales on a Wednesday but make $40,000 on a Saturday. Because of this, forecasting based on the previous year's sales, makes the most sense. Additionally, looking to the future and anticipating spikes in business due to new menu items or special deals is something to forecast, as well.