supply chain forecast accuracy

SoccerBoss
Category:
Business & Finance
Price: $5 USD

Question description

Your company released a new product in August this year.  Prior to August, you asked two experts at the company, Katelyn and Christopher, for their forecasted sales of the new product.   Katelyn forecasted that week 1 would be 5,000 units and sales would increase by 1,000 units each week for the first 12 weeks.  Christopher forecasted that week 1 would be 7,000 units and sales would increase by 500 units each week for the first 12 weeks.  The product has been on the market for 6 weeks and below is the actual units sold.

Week

Actual Sales (units)

1

4,900

2

7,200

3

6,800

4

6,300

5

9,100

6

9,500

a)  Calculate the MFE for each expert’s forecast (2 points).

b)  Calculate the MAPE for each expert’s forecast (2 points).

c)  Which expert had the better forecast and why? (2 points).


Tutor Answer

(Top Tutor) Daniel C.
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School: Duke University
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