Nobody downloaded yet

Inventory - Essay Example

Comments (0) Cite this document
Summary
This work reviews the current forecasting strategy of the company as it prepares to meet the requirements of demand and capacity for its planned future. As it makes a review of the current forecasting strategy, it will seek to give a forward for the, however, ties directly to…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98% of users find it useful
Inventory
Read TextPreview

Extract of sample
"Inventory"

Download file to see previous pages After a long time use of the time series forecasting method, the company should now adopt a new strategic plan, which should enable it to penetrate its market deeper. It is not safe for the company to rely on its historical data alone in the prediction of its future needs when considering demand. Therefore, the qualitative forecasting method is the best method applicable by the company. This will ensure that the company knows the likely direction to be taken by its customers in the consumption of its goods; and adjust appropriately to cater for the views of the consumers.
Besides the techniques already listed in the abstract, there are other forecasting techniques available and already in operation. They are each used in line with the future need that a company requires. Therefore, before using any of these methods, consider the time of preparation, cost, and accuracy of the technique. These techniques make different assumptions in their operation (Makridakis, Wheelwright, & Hyndman, 1998). In addition to the already mentioned methods are Regression methods, which involve the extension of linear regression that is a variable, linearly relates to some other independent variables. The other method of forecasting used is the multiple equation methods, which involve some variables that are dependent interacting with each other in a number of equations. This method receives proper application in the economic models of forecasting.
These techniques have their basis on human judgment in the forecasting of the planned future of a given company. Therefore, these methods are said to be subjective based on the judgments and opinions given by the experts and the consumers. These techniques apply to the decisions that are intermediate and long range. They can be used in the creation of forecasts that are short term and can supplement projections, ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Inventory Essay Example | Topics and Well Written Essays - 500 words - 1”, n.d.)
Retrieved de https://studentshare.org/management/1581952-inventory
(Inventory Essay Example | Topics and Well Written Essays - 500 Words - 1)
https://studentshare.org/management/1581952-inventory.
“Inventory Essay Example | Topics and Well Written Essays - 500 Words - 1”, n.d. https://studentshare.org/management/1581952-inventory.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Inventory Management
The individuals responsible for this process should make sure that the inventory is neither too high nor too low and meets the required level of the business. Effective inventory management is an essential tool which can help boost the sales of all restaurants.
4 Pages(1000 words)Essay
Asset Inventory
Processes IT and business sensitive procedures involving Transmission of Critical Data. Capture of clear text data $10,000,000 low Malicious use, system compromise and unauthorized access Encryption Usage Standard High 0.8 Medium 0.1 0.2 Moderate $240,000 Security Audit Standard.
5 Pages(1250 words)Essay
Country Inventory
The country covers an area of 78 772 kilometers squared. Scotland has three distinct regions that include the Highlands, the Central Lowlands and the Southern Uplands. The country is rich in traditional culture, as well as the modern culture. The country boasts a variety of religions, which include Christianity, Islam, Judaism and Buddhism, with Christianity being the dominant and the oldest religion.
4 Pages(1000 words)Essay
Inventory Management
ntrolling of the inventory items in a way that neither they become too much in excess for the organization, nor do they get out of stock so that when the company needs them, they are not available in the stock. Morris (2006) states that Inventory management, if done properly,
10 Pages(2500 words)Essay
Inventory Management
The author outlines various accounting techniques that relate to management accounting. He makes a conclusion that Wooden Wonders Ltd has the chances of using various techniques of managing its inventory in order to ensure that its large number of customers that come from Europe and UK are effectively served.
10 Pages(2500 words)Essay
Inventory Management
This essay presents a report to board of directors of Wooden Wonder Ltd, that contains an analysis on the issue of minimising the costs of ordering and holding inventory. The researcher discusses advantages and disadvantages of holding inventories as well as presents the alternative methods of inventory management that can be used.
14 Pages(3500 words)Essay
Inventory & Inflation
This hence decreases the purchasing power of money hence resulting into an increase of the prices of services and goods. This means additional money is required in order purchase the same amount of services and goods as compared to the previous period. On the other
1 Pages(250 words)Essay
Inventory Management
It is through suitable and effective inventory management, that the efficiency of the supply and delivery chain is attained, while improving on the financial performance of a business entity. Since inventory refers
2 Pages(500 words)Essay
Inventory Journal
Although it shows a decrease in the level of profits, but it helps in reducing taxes for the company (Brinlee, n.d.). Under FIFO system, goods that are added to the inventory at first should be sold before the recently added items. Companies using this
1 Pages(250 words)Essay
Inventory Management
JIT system involves manufacturing products only when orders for the same have already been received from buyers and dealers. At Toyota, raw materials are not brought to the shop floor, until and unless orders for the final products have been received from dealers. The JIT
6 Pages(1500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic Inventory for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us