Riordan Manufacturing In Amended Budget Virtual Organization

Feb 3rd, 2012
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Riordan Manufacturing In Amended Budget Virtual Organization

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Name:Institution:Professor:Date:Riordan Manufacturing Virtual OrganizationRiordan Manufacturing Virtual OrganizationRiordan Manufacturing is a Fortune 1000 company that is fully owned by Riordan Industries. It is a virtually run business meaning that its various business functions are distributed among different virtual business partners, with Riordan only assembling and selling the finished products. The company is headquartered in Albany; Georgia with its virtual partners spread globally mostly in China and South East Asia. Riordan manufactures Medical Stents, Heart Valves, plastic bottles and fans. The company employs over 550 employees distributed in its various branches. Riordan Industries will use the quantitative forecasting method to forecast future electric fans demand. Quantitative method forecasts future demand using past recorded data. As a firm which has been in existence for some time now and thus has access to past data. This method is effective when the company seeks to conduct forecasts to help in making short term or intermediate decisions. The company will make use of the Time Series Forecasting method which is a type of quantitative forecasting method. This involves measuring past data over time to come up with future trends. It involves collecting past data over hourly, daily, weekly, monthly, yearly or more than one year intervals. The past year data on sales and production of electric fans will be analyzed and the result presented using graphs

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