Develop a forecasting plan to forecast production output for Kibby and Strand. The plan should include forecasting objectives, the data to be used in forecasting, and the quantitative methods the staff is to use in creating the production output forecast.

Develop a plan to forecast production output, not future sales. The key is to provide details on how you want the staff to determine the needed future production output for Kibby and Strand in months. Explicitly describe the data and quantitative methods you demand the staff use to derive and apply for this forecast plan. Be sure to include any trends or seasonality of the data in the plan. The plan should include the forecasting objectives. Identify at least two advantages and two disadvantages of the chosen forecasting method. Also, identify problems we may encounter collecting the necessary data for the forecast. This plan will be utilized by the receiving department to ensure we can accommodate the raw material, the production department to ensure we have the resources needed, and to provide shipping with an idea of its workload in future months.

Your target audience for the forecasting plan is the manager of each department. Other departments such as HR and Marketing will also use the plan to inform their decision process.

Answer rating: 100% (QA)

Forecasting Plan for Production Output at Kibby and Strand Forecasting Objectives 1 To accurately predict the needed future production output for Kibb... View the full answer