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Case Study - Admission/Application Essay Example

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One of the leading manufacturers of garden tools, Yankee Fork and Hoe Company is facing problems because most of their long time customers are confronted with the issue of late shipments because the company has several issues in their manufacturing facilities making it hard to…
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Problem ment One of the leading manufacturers of garden tools, Yankee Fork and Hoe Company is facing problems because most of their long time customers are confronted with the issue of late shipments because the company has several issues in their manufacturing facilities making it hard to meet the demands of customers. To resolve the issue the company designed a forecasting system, however, the system is not effective enough to make sufficient forecasts.
Issues in the Forecast System of the Company
There are problems in the forecast system of the marketing department and product department causing several issues for the company. As noted by Ron Adams that for data collection he meets several managers to collect data regarding upcoming promotions, surplus and shortages and economic conditions to develop a monthly forecast for the next year. Similarly, in the product department, Phil Stanton is using his own opinions for creating forecasts after receiving an annual report from the marketing department. In this regard, the forecast system of the Yankee has no quantitative forecasting methods and no reliable data collection sources. Moreover, there is no commu7nication between the two departments which is also affecting the accuracy of the forecast system of the company and is causing issues for them.
Proposed Forecast Method
It is important for the Yankee and How Company to have a well balanced and reliable forecast system. It is also observed that the demand of bow rakes is greatly affected by seasonal effect, therefore; a multiplicative seasonal method for forecast would be effective to use.
Year 1
Year 2
Year 3
Year 4
Seasonal Factor Average
Demand History
Seasonal Factor
Demand History
Seasonal Factor
Demand History
Seasonal Factor
Demand History
Seasonal Factor
Now we will calculate naïve forecast to estimate the increase in demand per year.
Year 2= 29492
Year 3= 51213
Year 4= 12485
Average= 31063
By adding the average 31063 to 114487, assuming it as a demand for prior years, the result will be equal to 145551. Assuming 145551 as a demand for prior year we will multiply it by seasonal index to get 5 year forecast.
It is recommended to the marketing department and product department of the Yankee Fork and Hoe Company to introduce an independent and quantitative measures for forecasting because it is not possible to forecast accurately using a qualitative method. Moreover, they should improve communication between both the departments so that they could consider different strategies to control costs and to improve their customer services.
Though, it is not possible for anyone to make 100% accurate forecasting, however, by employing an effective method companies can reduce the chances of human errors that are high in making estimation. Yankee Fork and Hoe Company can also improve their forecasting and customers ratings by employing these quantitative measures for forecasting.
Geurts, M., Guerard, J., & Lawrence, K. (1998). Forecasting (1st ed.). Greenwich, Conn.: JAI Press. Read More
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