EXECUTIVE SUMMARY: the purpose of this report is to explore about forecasting and its techniques

Forecasting is part of a company’s future planning as it attempts to estimate future demand for its product or services. Forecasting is usually measured in specific time periods (months, weeks, etc), given a desired level of accuracy, and assigned a unit of forecasting (sales in units or dollars) (Download Reports 2011). PepsiCo bases its sales forecasts on two main factors: changes in consumer tastes, particularly the rise health consciousness among consumers; and how legal regulations may impact operations, such more federal and local laws

In this method we can have large scale of costumers opinion and needs, but this incorrect data that we will collect. It will affect our decisions that we will take.

* Now, assume you have acquired some time series data that would enable you to make short, medium, and long term forecasts. Ascertain the quantitative technique that will provide you with the most accurate forecast. Provide a rationale for your responses

* Forecasting is an impartial strategic ingredient that will ensure apt base for reputable planning. Our forecast is always the first step in developing plans in running the business along with our future plans of growth strategies. With this tool, we are able to anticipate our sales within reason that then can allow for us to control our costs in conjunction with inventory which will then help us to enhance our customer service. Sales forecasting is a vital strategic tactic in our company’s methodology.

3. Market Share: forecasting will help in identifying the size of the market share and market potential will aid in the manufacturing and distribution process. Will also aid in proper utilization and eliminate waste.

Forecasting: It is an important step required to anticipate the future events that might occur with the mentioned changes. There may be a possible need for expansion of services to compete with the technological advances; continued mergers; increased spending on operations as well as research and development.

Good information. I like how one can forecast information between relationships and different variables. Especially how easy it is to read and determine what might be the next task at hand, depending on what the end result is looking like and wanting to determine. Forecasting is part on a planning process based on predictions.

Forecasting is the methodology utilized in the translation of past experiences in an estimation of the future. The German market presents challenges for forecasting techniques especially for its retail segment. Commercially oriented organizations are used to help during forecasting as general works done by academic scientists are not easy to come across (Bonner, 2009).

Fixing the forecasts allows to build the communication between the different departments of a firm (communication between the operational staff, the financial staff, etc.). It should be also a guide for financial planning and monitoring the activity and the performance. It is a tool to evaluate profitability and productivity, to identify an eventual gap between actuals and OP (operating plan), and to fix it.

But even this is not possible in case of a new product or innovation. A forecast of sales, demand, cash, requirements and several such business valuables are extremely essential for a business in order to be able to appropriately plan and conduct its operations in an effective and efficient manner. Yet, forecasts cannot be made accurately as there are several factors and changes in the current environment that leads to variations in forecasts and impacts or causes a manager to make changes in the forecasts.

Forecasters use these mental maps to organize their observations of directional information. Since innovations rarely apply to the entire marketplace, information must be tagged for the appropriate price point, category and classification. In this way, forecasters turn random bits of data into useful information for decision support, points and style directions.

* Here you should include a simple table showing the years and the total sales for each year, along with a brief explanation of why sales are expected to rise, fall, change, or stay the same in certain years. Provide a brief explanation of the sales forecast, indicating why you expect sales to rise or fall during the planning horizon. Your explanation should be consistent with the trends and changes in sales found in your table:

Forecasting mode has become a necessity for the organization to lean on. Borousan claimed that implementation of an accurate forecasting process helps companies is trying to obtain financing from investors. This method is a prediction based on previous sales performance and analyse of expected market conditions. There is important thing for

Based on the case, there were two fundamental changes to standardize and improve the accuracy of forecasts. The first area was to "switch the focus of the focus of the forecasting process from sell-in to sell-through". This meant tracking closely what was sold in one region and shipped from another made forecasting market demand a more accurate exercise. The second area centered on ignoring capacity constraints to estimate demand. In the past, "forecasting was affected by perceptions of present and future supply chain capacity".

This technique is part of a set of techniques that are useful in situations where past data do not exist, causal relationships have not been identified, or some major change has occurred in the forecasting context which is not accounted for by other techniques. Evidence as to the effectiveness of using these methods by themselves is mixed, although using them can provide good forecasts, especially in uncertain environments. The objective of these techniques is to provide rational, honest, and systematic estimates. (Marketing Profs) Some advantages of jury of executive opinion is it can be done easily and quickly without a lot of elaborate statistical manipulations and it incorporates a variety of opinions from executives. (Sales Forecasting)