Create 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.

you are creating a Forecasting Plan, which is a directive to the staff and that is much different than a

document to inform the staff of something. A "Plan" is a generic term for a directive to the staff and

they go by many names in the real world: Standard Operating Procedures $($SOPSs$)$

https:$//$www$.$smartsheet.com$/$content$/$standard$-$operating$-$procedures$-$manual $,$ Standing Orders,

modus operandi, etc., but they all serve the same purpose: Provide established or prescribed

methods to be followed routinely for the performance of designated operations or in designated

situations. A good template for an SOP is located above in the discussion scenario.

When you prepare your forecasting plan carefully read all the information at the top of the

discussion page in Canvas. Next, read requirements and information provided in the Initial Post tab

above. Your Forecasting Plan should have three sections: Purpose, Data, and Quantitative Method.

The purpose of the plan is to forecast production output. This is not the same as forecasting future

demand $($i$.$e$.$ contracts$).$ The difference is demand is what you're asked to produce and output is

what you actually produce. They are often not the same. If we have a lengthy equipment

breakdown that halts production then it is likely we will not produce some orders.

The data you use should be historical production output data, and account for seasonality since the

textiles Kibby and Strand produces will change with the seasons. After you determine the data you

plan to use, then pick a quantitative method from Chapter $3$ to turn the data into a forecast value for

production output. Recommend you forecast output by the month or quarter. There is a

bibliography at the end of each chapter that will give you some ideas on the types of research

articles to look for. I like to use Google Scholar, but you have to filter through several articles to

find the free ones.

You're not going to calculate an actual forecast value because you do not have historical data. The

purpose of the forecasting plan is to provide direction to the staff so they can create the forecast.