Category: Forecasting

Error Measures in Forecasting In forecasting, error measures play important roles because of their potential in helping to identify the forecasting method that would be the most appropriate in a given context. Each error measure can have certain limitations and thus lead to the inaccurate evaluation of forecasting results, which contributes to the increased complexity…

Transportation Forecasting: Strategic Planning Table of Contents Summary Knowledge/Application Area 1: Transportation Management Knowledge/Application Area 2: Financial Management Methodology 1: Other Descriptive Models (Forecasting) Methodology 2: Optimization Modeling and Solution Techniques Planning Level 1: Strategic Planning Level 2: Operational References Summary Logistics is an important part of the everyday activity of the armed forces. The…

Sales Forecasting: Guillermo Stores Table of Contents Introduction Risk in sales forecasting Ethical Factors in Sales Forecasting Conclusion References Introduction Budgeting, therefore, takes into consideration various factors to come up with an appropriate forecast. For Guillermo furniture to produce correct sales estimates within its forecast budget, it s needs t to consider the factors affecting…

Demand Forecasting and Its Benefits for Business If a breakfast cereal company wants to introduce a new product in the market, it is reasonable to invest in forecasting demand. Here, the company should choose between quantitative and qualitative techniques. I would recommend using a simple moving average and market research approaches because they are suitable…

Forecasting and Risk Assessment in Business Knowledge and Risk Knowledge can be divided into uncertainty and perfect knowledge. Where does risk fit into this spectrum? According to several sources, knowledge can be defined as the relation between two or more ideas that are usually perceived mentally (Reany, 1988). Naturally, such ideas or concepts do not…

Forecasting, Risk Management, and Decision-Making Table of Contents Introduction Impact of decision-making heuristics, bias and risk preference Decision-making heuristics Decision-making biases Risk implication Risk management process References Introduction Risk is a situation that exposes one to danger. It involves exposing a person to something that is valued to danger, loss or harm. Risk is, therefore,…

Car Sales Forecast and Financial Strategy Apart from identifying the interest rate charged for a loan, one will have to consider a variety of factors in order to predict sales rates efficiently. The forecast of sales rates is quite hard to carry out due to a variety of factors affecting it. These factors can be…

Forecasting and Risk Assessment Risk management is a process of identifying risks, evaluating the consequences as well as defining effectual methods of controlling risks and responding to them (Miller 2003). Risk management is a major task for the managers in any organization. So as to manage risks appropriately, the risks associated with each service delivery…

Forecasting USD / CNH Spot Exchange Rate Introduction The purpose of this report was to forecast USD/CNH Spot Exchange Rate on July 29 2014. Data for the forecasting were obtained from Bloomberg.com. CNH is the offshore version of the renminbi (RMB). Abilities to comprehend and forecast the exchange rate and fluctuations at any given moments…

A Zero Net Present Value and Forecasting Errors Table of Contents Introduction A Zero NPV Forecasting Errors Conclusion Reference Introduction The decision-making process regarding future investments should be based on theoretical frameworks to avoid failure. They include forecasting errors indicating the difference between expected and actual outcomes alongside the net present value (NPV), which should…