Mgmt 411 unit 2 individual project

  

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Your Director of Supply Chain needs help in developing forecasts. Choose one of the following three options. 

  1. Develop      forecasts for periods 6 through 24 using moving average with 3      periods, 4 periods, and 5 periods, or…
  2. Develop      forecasts for periods 3 through 24 using a smoothing factor of 0.2 and      0.3, or…
  3. Develop      forecasts for periods 5 through 24 using weighted moving average with      weights of 0.4, 0.3, 0.2, and 0.1. 

Guidelines:

  • Calculate      the MAD and MSE for all of your forecasts.
  • Start MAD      and MSE calculations for moving averages in period 6.
  • Start MAD      and MSE calculations for exponential smoothing in period 5.
  • Start MAD      and MSE calculations for Weighted Averages in period 5.
  • Write a 1      page article describing the different forecasting tools. 

To view the chart of period and actual quantity to perform your calculations, click here. 

Please refer to the following multimedia course materials:

  • Unit 2:      Forecasting for Decision Making
  • Unit 2:      Forecasting Calculations 

Period  Actual Quantity   Forecast  Error

1  429

2  222

3  276

4  167

5  266

6  305

7  430

8  415

9  388

10  368

11  220

12  457

13  267

14  277

15  242

16 590

17  147

18  566

19  267

20  361

21  338

22  351

23  217

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