Global operational management

Global operational management

Introduction

Forecasting is the highly innovative tool which enables the organization to speculate about future events. There are several methods using which organization develops their forecasting report, however, most common and widely use methods are moving average (Vandevoorde & Vanhoucke, 2006). This method takes numerous values for providing the forecasted report and is effective in analyzing the tradition of market in the long run. Next section of the report shows the forecasted calculation of ABC floral shop using 3 and 5 point average method.

Discussion

Calculation of forecasted demand using 3 point average method

Day

Demand

Day

Demand

1

200

8

149.3333

2

134

9

140.3333

3

157

10

159.3333

4

163.6667

11

176.3333

5

152

12

171.6667

6

166.3333

13

165.3333

7

155.6667

14

152

Calculation of forecasted demand using 5 ...