Electronic Manufacturing Inc. is dedicated to the production of diverse products
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Electronic Manufacturing Inc. is dedicated to the production of diverse products related to computers. Below you will see the production data of four of their products during the past 3 years presented in quarters.
Examine the historical production trends and address the following:
Prepare demand forecasts for the next four quarters for all four products.
Describe the forecasting method you chose and explain why that forecasting method is best suited to this scenario.
Explain why you did, or did not, choose the same forecasting method for each product.
What are the benefits of using a formalized approach to forecasting these products?
Year 1
Products
Quarter
Motherboard
Hard Drive
Video Card
Ink
1
2,550
1,525
1,855
5,250
2
995
1,025
1,285
4,250
3
3,850
3,025
4,240
5,155
4
2,855
3,175
1,970
5,345
Total
10,250
8,750
9,350
20,000
Year 2
Products
Quarter
Motherboard
Hard Drive
Video Card
Ink
1
4,025
3,965
3,525
9,350
2
2,595
3,025
3,025
9,005
3
6,225
3,250
7,320
9,255
4
5,905
4,125
3,480
10,640
Total
18,750
14,365
17,350
38,250
Year 3
Products
Quarter
Motherboard
Hard Drive
Video Card
Ink
1
5,275
4,905
4,850
13,250
2
3,350
4,250
4,325
13,125
3
7,005
4,105
8,150
13,325
4
6,730
5,535
4,625
15,775
Total
22,360
18,795
21,950
55,475
Directions:
Your assignment is required to be 5-6 pages in length, which does not include the title page and reference pages, which are never a part of the content minimum requirements.
Support your submission with course material concepts, principles, and theories from the textbook and at least three scholarly, peer-reviewed journal articles. Use the Saudi Digital Library to find your resources.
Formatted according to APA 7th edition and Saudi Electronic University writing standards.
It is strongly encouraged that you submit all assignments into Turnitin prior to submitting them to your instructor for grading. If you are unsure how to submit an assignment into the Originality Check tool, review the Turnitin – Student Guide for step-by-step instructions
Critical Thinking PaperThis week you will identify elements of demand forecasting, analyze steps in the forecasting process, and you will focus on the importance of forecasting as it relates to operations management. Demand forecasting may be completed in a simple manner reviewing historical trends or through elaborate systems. This will include the meaningful units in forecasting, how those meaningful units may be different in organizations providing services rather than making products, and how writing down the forecast allows multiple people in multiple roles in the organization to give input to the forecast. We will also look at the impact that a forecasting technique has on receiving the level of detail needed for a forecast. Each organization chooses its own method or methods based on the level of accuracy that may be required.Some written commentsIn writing the paper, I would offer some hints that may be of help. Though a majority of your paper is assessed through content, some grammar/punctuation tips may be of value:First is to follow APA formatting, including a title. A single double space is done between references and between paragraphs, and be sure to indent the first sentence in each paragraph (~ 5 spaces) of the body of your paper. A good hint is to utilize a well-written APA formatted paper and then ‘type’ over the paper. In that way, you are always assured of having the right format.
Second is to include a solid thesis statement, which is the main point you are making in your paper. It is the one thing that you want your audience to remember about your paper. Everything else in your paper is built around that key statement (which is usually the second or third sentence of your paper).
Third is to keep your paragraphs between 3-5 sentences. This is why newspapers typically have small paragraphs; the reader thinks it will be quicker to read it and it is also easier to read. Your shorter paragraphs should be combined, and your longer paragraphs that contain more than 1 thought/point should be separated. A general rule is that paragraphs should not be more than half a page (fold a page in half)
Fourth are several key mistakes to avoid: avoid writing in first person, do not use contractions (e.g., can’t or don’t), avoid generalizing (“everyone does it,” “most people,” etc.), avoid ending sentences with a preposition, and spell out words that make up an acronym the first time you use them in a
