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Forecast inventory for next year.

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Winter Historical Inventory Data

Typical Seasonal Demand for Winter Highs

Actual Demands (in units)

Month Year 1 Year 2 Year 3 Year 4 Forecast
1 55,200 39,800 32,180 62,300
2 57,350 64,100 38,600 66,500
3 15,400 47,600 25,020 31,400
4 27,700 43,050 51,300 36,500
5 21,400 39,300 31,790 16,800
6 17,100 10,300 31,100 18,900
7 18,000 45,100 59,800 35,500
8 19,800 46,530 30,740 51,250
9 15,700 22,100 47,800 34,400
10 53,600 41,350 73,890 68,000
11 83,200 46,000 60,200 68,100
12 72,900 41,800 55,200 61,100
Avg.

Convert the data from your chosen source into an index.

Use the time series data from your index to forecast inventory for next year.

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Solution Summary

The forecasting inventory for the next year are examined. The typical seasonal demand for winter highs are determined.

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This shows seasonal patterns and Seasonal patterns are regularly have upward or downward movements in demand measured in periods of less than one year. If the weighted moving average method is used, high weights are placed on prior periods belonging to the same season. Here we use the Multiplicative seasonal method, which is a method whereby seasonal factors are ...

Solution provided by:
Champake Mendis, MEngSc, PhD
Education
  • BSc (Hons), University of Colombo - Sri Lanka
  • MEngSc, University of Melbourne
  • Certificate IV in Training & Assessment , Australian Business Council
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