Forecasting Report

TABLE OF CONTENTS

I. Forecasting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
A. Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
B. Objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
C. Importance of Forecasting. . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
1. Product Life Cycle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
2. Types of Forecasting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
3. Strategic Importance of Forecasting . . . . . . . . . . . . . . . . . .3
4. Steps In Forecasting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
II. Methods of Forecasting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
A. Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
B. Qualitative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
C. Quantitative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
III. Case Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
References . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

I. Production Strategies

A. Overview
Forecast is a are foresee to the future events or possible happenings, may defines forecast as a prediction of what may happen on a things, current structures, inventions or even evolution of today’s ideas. While others say that prediction and forecast are two different things, forecast can either be made from 2 different sources the past and present data, in order to foresee potential future events to be able to potentially control the outcome by possible influencing the decision to be made by the board or the decision makers. Forecast is believe to be crucial on any business