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Appliance maker forecast consulting: You are hired to recommend a forecasting solution to a small-scale home appliance maker. The three managers namely the shop floor,

Appliance maker forecast consulting: You are hired to recommend a forecasting solution to a small-scale home appliance maker. The three managers namely the shop floor, marketing, and finance make an annual forecast for monthly demand. The actual demand along with their forecasts are available for the past two years in the file below. What are your observations and recommendation? If you must make a quantitative forecasting technique as a recommendation, which one you will choose, and how will convince the skeptical managers?

Forecasting sales at a home appliance maker
Month Shop Manager Marketing Manager Finance Manager Actual
1 3989 3700 3500 3604
2 3943 3900 3600 3555
3 3729 3890 3550 3804
4 3747 4100 3700 3730
5 3954 4050 3982 3914
6 4099 4205 4105 4336
7 3792 4094 4065 4208
8 3936 4393 4187 3968
9 3766 4414 3804 4284
10 3810 4197 4070 4207
11 3734 4070 4071 4146
12 3740 4643 3885 4246
13 3790 4362 3856 3822
14 4081 4400 3868 3896
15 3815 4708 3921 3904
16 4005 4752 4195 3878
17 4114 4518 4188 4123
18 3967 4729 4157 4218
19 3861 4647 4084 4200
20 4043 4895 4196 4211
21 3723 5162 4071 4276
22 4021 5104 4010 4300
23 3808 4636 4040 4573
24 3951 4706 4163 4295

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Observations 1 The shop floor managers forecasts generally fall below the actual demand indicating a conservative approach to forecasting 2 The market... blur-text-image

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