Operations Management- Forecasting Process Assignment

Operations Management- Forecasting Process Assignment Please check attachment to know the assignment details.
forecasting_process_assignment.pdf

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MSC-337
Forecasting Process Assignment
1. For your product, flesh out how and what you would need to complete the five steps:
? Decide what needs to be forecast
¦ Level of detail, units of analysis & time horizon required
? Evaluate and analyze appropriate data
¦ Identify needed data & whether it’s available
? Select and test the forecasting model
¦ Cost, ease of use & accuracy
? Generate the forecast
? Monitor forecast accuracy over time
2. You need not do the forecast, but write about the things you need to consider to get
started with the forecasting process
3. What do you do after the first round of forecasting is complete
4. Assume a problem with the forecast, what is the cause and how do you propose to fix it
MSC-337
Forecasting Process Assignment
Product: Lululemon sportswear
Servies: Tailoring
1. For your product, flesh out how and what you would need to complete the five steps:
? Decide what needs to be forecast
¦ Level of detail, units of analysis & time horizon required
? Evaluate and analyze appropriate data
¦ Identify needed data & whether it’s available
? Select and test the forecasting model
¦ Cost, ease of use & accuracy
? Generate the forecast
? Monitor forecast accuracy over time
2. You need not do the forecast, but write about the things you need to consider to get
started with the forecasting process
3. What do you do after the first round of forecasting is complete
4. Assume a problem with the forecast, what is the cause and how do you propose to fix it

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