(If you know how to do sales forecasting please) (Still learning) (Pretend value
ID: 326611 • Letter: #
Question
(If you know how to do sales forecasting please) (Still learning) (Pretend values as well, just creating a make believe short forecast)
*For a fake beer company that is completely healthy and adds electrolytes*
1) Forecasting Methods: What method or methods are you using to help forecast demand for your product or service? Why did you choose this method(s)? Be sure to show proof of your forecasting efforts.
2) Initial Forecast: Given what forecasting work you have done, create an initial forecast for your product or service. Be sure you have clearly explained the interval of time you have measured.
Explanation / Answer
1- I will use time series analysis for forecasting demand. It studied perfectly the dependency of time which is relevant for beer industry. The strength of time series analysis is in studying the impact of a discrete event in time, which makes it a powerful tool for marketers specially in beer industry. Time series analysis properly spread for a time period where we can forecast demand according to factors associated with the demand also. In beer industry demand for beer is normally less in winters and more in summers, so time series analysis look into this factor properly. I will use moving average
2- Forecast of fake beer from apr 2018 to March 2019 using 3 period moving average from actual value of Jan 2018.
Month Actual for 2017 Forecast Jan 87 - Feb 91 - March 100 93 Apr 120 104 May 115 112 June 127 121 July 117 120 Aug 109 118 Sept 135 120 Oct 144 129 Nov 83 121 Dec 71 99 Jan 77 Feb 71Related Questions
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