Electronic Manufacturing Inc. is dedicated to the production of diverse products

Place your order now for a similar assignment and have exceptional work written by our team of experts, At affordable rates

For This or a Similar Paper Click To Order Now

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 four to five 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.
Review the grading rubric to see how you will be graded for this assignment.
Module Overview
In this module, 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.
Learning Outcomes
Appraise the importance of timely forecasts in terms of operations management.
Evaluate the steps to creating accurate forecasts.
Weigh the best forecasting method for specific business challenges.
Readings
Required:
Chapter 3 in Operations Management
Chapter 3 PowerPoint slides Chapter 3 PowerPoint – Alternative Formats – Operations Management
Sousa Agostino, I.R., Vieira da Silva, W., Pereira da Veiga, C., Mendonca Souza, A. (2020). Forecasting models in the manufacturing processes and operations management: Systematic literature review. Journal of Forecasting, 39(7), 1043-1056.
Sharma, H. K., Kumari, K., & Kar, S. (2020). A rough set approach for forecasting models. Decision Making: Applications in Management and Engineering, 3(1), 1-21.
Recommended:
Li, Y., Berry, D., & Lee, J. (2020). How to choose among three forecasting methods: Machine learning, statistical models and judgmental forecasts. International Journal of Applied Forecasting, 2020(58), 7-14.
Seyedan, M., & Mafakheri, F. (2020). Predictive big data analytics for supply chain demand forecasting: Methods, applications, and research opportunities. Journal of Big Data, 7(1).

For This or a Similar Paper Click To Order Now

SmiteWriter
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.