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Understanding Forecast "highline Financial Services, Ltd"

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Understanding Forecast

Patrick Langston II

University of Wisocnson (Parkside)

Understanding Forecast

Forecasts are a basic input in the decision of operations management because they provide information on future demand. Forecast help set the budget, capacity planning, production and inventory, personnel, purchasing, and more. (99999). Forecast are conducted by companies and individuals to try to accurately match future supply with demand. Forecast are not perfect, but good forecast are timely (daily, weekly, yearly, or longer time horizon), precise, dependable, uses meaningful units, is in writing, simple to understand, and cost-effect.

"Highline Financial Services, Ltd"

Highline Financial Services needs to predict (forecast) the company’s future demand for the three services it offers (A, B, & C) over the next four quarters. Freddie Mack needs this information to make and prepare financial and personnel hiring (or layoffs) plans for the up coming year. Due to the oscillating demand of the pervious eight quarters, Freddie is uncertain and puzzled about future demand.

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The analysis of the presented information shows how the demand is wavering in each quarter in every year that we must use to simulate the situation and manage the relationship between supply and demand. Using the moving average data technique, we can use the data collected to determine the increase or decrease in demand.

A B C

Quarter 1 20% -11% 10%

Quarter 2 13% -12% -17%

Quarter 3 12% -8% 0%

Quarter 4 13% -23% 11%

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