Sales: Sales: Support: Support:
Academic writing services  
 
Custom written essay Book report Research paper Dissertation Resume and CV Editing and proofreading  
main menu
discounts
discounts
By ordering custom paper you get
  • 24/7 Support
  • Over 100 professional US Writers
  • 300 words per page
  • Flexible discount system
  • FREE revision (within 2 days)
  • Anti-Plagiarism Software Check
we accept
sample essays
Accounting Essays
Admission Essays
Analysis Essays
Art Essays
Biography Essays
Biology Essays
Book Review Essays
Business Essays
Case Studies Essays
Cause and Effect Essays
Character Analysis Essays
Communication Essays
Communication and Media Essays
Compute Technologies Essays
Consideration Essays
Controversial Essays
Description Essays
Economics Essays
Education Essays
Evaluation Essays
Explanation Essays
History Essays
Job Essays
Law Essays
Management Essays
Medicine Essays
Music Essays
Personal Essays
Personal Experience Essays
Persuasive Essays
Persuasive Speech Essays
Philosophy Essays
Political science Essays
Politics Essays
Proposal Essays
Psychology Essays
Reflective Essays
Religion Essays
Research Essays
Response Essays
School Essays
Science Essays
Sociology Essays
Technology Essays
World Literature Essays
Forecasting with Indices essay
 
← The Fascination with Mars and Martians is prevalent throughout Science FictionTragedy in the Congo →

Forecasting with Indices. Custom Forecasting with Indices Essay Writing Service || Forecasting with Indices Essay samples, help

Forecasting is a technique used by businesses to predict the current and future trends based on the relationship between various variables. This helps in managing the ambiguity of the future. It provides valuable information that is useful for both short term and long term decision making.

There are two methods of forecasting; qualitative forecasting and quantitative forecasting, and therefore it is important to choose the best method for a particular business. Quantitative forecasting uses historical data to predict future trends. The time series method of forecasting is a quantitative method that uses a time series of previous data to forecast. Qualitative method of forecasting uses expertise in a particular field to predict future trends.

 Time series method has two main goals:

  1. Identify the pattern of occurrences over a given time period.
  2. Predict future values using the pattern predicted.

Once a period has been recognized, a model is produced to forecast future values. Time series assumes that the underlying economic and social forces that brought changes will continue to operate the same way and therefore the patterns observed in the past will continue in the future. Using a time series method, historical data is used to predict future trends.  

One of the disadvantages of this method is that it makes no effort to identify causes of the observed patterns and thus it cannot tell whether the underlying forces have changed or not.

Forecasting is important for the growth of any business. Lack of forecasting will mean that the business lacks the capability to tell whether sales will increase or decrease and therefore will not know whether to increase or decrease the ordering of their inventory.

As a business grows, it gathers monthly and yearly data and can use this information to create an index. This index is useful when examining current trends and to forecast the future of the business. When forecasting for inventory, indices are very important. An index is a time series that has been scaled such that the value in one period is 100. The period whose value is set to 100 is called base period.

According to Sevilla and Somers (2007) “Quantitative indexes and rating systems are used to give information about general trends and to allow us to make comparisons and judgments” (p. 133)”  

The index number of a given period is given by the current number divided by the value of the base period and multiplied by 100.  A month-to-month evaluation period is better as it gives a more information and will be more accurate therefore better decisions will be made.

To ensure that the company is ready for winter months, inventory for winter goods shows peak around November, and this is consistent for the four years.

There’s a decrease in stock around June, during the summer months.

To ensure that the company is ready for the summer months, the stock volumes are highest around May, picking up the month of March when they are lowest. During the months of June when winter inventory is lowest, the summer inventory is at its pick. The company prepares for summer during the third month.

Inventory forecast for next year

The monthly forecast for the next year is given by the average of the four years monthly actual. Each monthly forecast is the average of the four year actuals.

Forecasting with Indices. Custom Forecasting with Indices Essay Writing Service || Forecasting with Indices Essay samples, help

Order Now
Order nowhesitating

Related essays

  1. Tragedy in the Congo
  2. The American Indian Wilderness
  3. The Fascination with Mars and Martians is prevalent throughout Science Fiction
  4. Elderly Inmates


order now

 
 
3.6K
1.2K
Order now
Email
Password
 
why choose us
96% of satisfied returning customers
24/7 customer support
A wide range of services
Up-to-date sources
100% privacy guaranteed
MA/PhD writers
Custom written papers only
Free plagiarism report
Free revision (within 2 days)
Free extras by your request
Direct communication with a writer
faq
Are your writers qualified for the custom writing?
How quick can my order be accomplished?
Is it legal to buy custom essays, term papers or book reports from your company?
Are essays offered by your company truly custom-written?
Is it safe to buy from SupremeEssays.com?
How secure is the payment system of your company?
Can I submit custom essays or term papers done by your company as my own?
How can I contact your company if I've got problems with my ordered paper?
testimonials

Finally, I've found the real custom writing service . My grades are saying "Thank you, it's been a pleasure to work with you."

Jamal, South Africa

I can't believe you finished my essay under such a short deadline! You saved me from a disaster once again. You guys deliver exactly what you promise. I'll be back. That's for sure!

William H , Kansas, US

contact us
Toll free for US & Canada only. International callers are charged for outgoing calls.

Our phone numbers:
SupremeEssays.com provides custom term paper writing/rewriting services inclusive of research material for assistance purposes only. The term papers should be used with proper reference and are not meant to replace actual assignments.
 

Get 15% off your first custom essay order

Order now

PRICES
from $12.99/PAGE

X