1. What kind of forecasting system is being currently used by YFHC? What are the current problems faced by YFHC due to problems in forecasting. (5 marks) (max. 100 +100words) Ans: Adams has been using the Qualitative method rather than Quantitative method. 2. What is the importance of accurate forecasting for YFHC? Justify with case specific information and avoid general comments. (5 marks) (max. 150 words) 3. What should be an appropriate forecasting horizon (duration)?
Justify with one specific example connected to the case. (5 marks) (max. 150 words) 4. Please draw the graph of 4 years demand data and write down your observations (5 marks) (max. 100 words for observations) 5. Develop your own forecast for bow rakes for each month of the next year (year 5) (Even though you may consider different forecasting methods for analysis, provide only two forecasting methods that you consider best, in your report). Justify your best choice of forecast and the method you used. (30 marks)*
* Please note that your grading on this exercise will be based on your insights, valid assumptions and forecasting errors to justify your method. Make sure that you write your assumptions clearly for method(s) that you present your report.
