Assignment Content This assignment is intended to help you learn how to apply forecasting and...

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This assignment is intended to help you learn how to apply forecasting and demand models as part of a business operations plan.

Choose 3 quantitative elements that you would like to research in relation to the organization that you selected for your business plan. These elements may be related to products, services, target market, consumer preferences, competition, personnel, resources, supply chain, financing, advertising, or other areas of interest. However, at least one of these elements should be related to a product or service that your organization is planning to offer.

Develop forecasts by implementing the following approach:
1. Collect data, including old demand forecast (subjective data) and the actual demand outcomes.
2. Establish the forecasting method (from readings). Decide on the balance between subjective and objective data and look for trends and seasonality.
3. Forecast future demand using a forecasting method.
4. Make decisions based on step 3.
5. Measure the forecast error where applicable. Look for biases and improve the process.
Write a 525- to 700-word paper evaluating the findings from the supported data points above, and explain the impact of these findings on operational decision making. Insert charts and supporting data from Excel and other tools in your paper.

Cite references to support your assignment.

Format your citations according to APA guidelines.

Assignment Content 1. Top of Form This assignment is intended to help you learn how to apply forecasting and demand models as part of a business operations plan. Choose 3 quantitative elements that you would like to research in relation to the organization that you selected for your business plan. These elements may be related to products, services, target market, consumer preferences, competition, personnel, resources, supply chain, financing, advertising, or other areas of interest. However, at least one of these elements should be related to a product or service that your organization is planning to offer. Develop forecasts by implementing the following approach: 1. Collect data, including old demand forecast (subjective data) and the actual demand outcomes. 2. Establish the forecasting method (from readings). Decide on the balance between subjective and objective data and look for trends and seasonality. 3. Forecast future demand using a forecasting method. 4. Make decisions based on step 3. 5. Measure the forecast error where applicable. Look for biases and improve the process. Write a 525- to 700-word paper evaluating the findings from the supported data points above, and explain the impact of these findings on operational decision making. Insert charts and supporting data from Excel and other tools in your paper. Cite references to support your assignment. Format your citations according to APA guidelines. Bottom of Form

assignment-content-4ldcwjkm.docx

Shalini · Accepted Answer

Running head: TESCO		1
TESCO 		5
	
TESCO
Forecasting and Demand Models
The three quantitative elements that I will select for the research include services, target market, and advertising. All these elements should be considered in relation to the company Tesco.
Services
Considering the old demand of forecast regarding the services of Tesco the company services are extensively in demand among the customers, which led the company to stabilize itself as a leading grocer in the UK. The company keeps on channelizing the demands of the customer regarding the services seeking the tremendous competition prevailing in the market. The company check on the demand regarding its services from the sales data and the forecasts it stabilizes regarding the product. The actual demand outcome of the company services is much more than what was expected from the company's old demand forecast. Seeking the increasing demand regarding the services the company has set up its new service for meal preparation. 
The company's new service of meal preparation is completely based upon the actual demand outcomes. From being a leading grocer to channelizing in new areas the company growth replicates the importance of demand forecast in the whole scenario. Considering the whole situation the seasonality and the trend of the market change with the changing time and the company tries to comply with the changes so that it could make the most out of it. The company forecasts and channelizes its services by forecasting customer demand by region and product category.

Assignment Content This assignment is intended to help you learn how to apply forecasting and demand models as part of a business operations plan. Choose 3 quantitative elements that you would like to...

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