OPS 574 University of Phoenix Wk 5 Process Forecasting Tesla Motors Project

User Generated

gevgr76

Business Finance

OPS 574

University of Phoenix

OPS

Description

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 from the company you selected. Note: If you are able to find old demand and actual data for only one item, you may complete this assignment by using the data for the single item and developing a forecast for the next period using three different forecasting techniques.

Develop forecasts by implementing the following approach:

  1. Collect data, 10 periods minimum, 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 and summarizing the findings from the supported data points above. Insert the charts and supporting data from Excel and other tools in your paper.

Cite at least 2 references to support your assignment.

Format your citations according to APA guidelines.

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Explanation & Answer

Attached. Please let me know if you have any questions or need revisions.

2018
2019

2020

2021

Period
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2

Old Demand Forecast Actual Demand Historical growth rate AVG
53.457
53.239
1,004094743 101,9570%
61.113
61.394
0,995423006
79.856
62.975
1,268058753
91.328
95.356
0,957758295
101.012
97.186
1,03936781
108.400
112.095
0,967036888
83.100
88.496
0,939025493
89.600
90.891
0,985796173
143.051
139.5...


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