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Answering the questions on the text: "Hard Rock Cafe - Forecasting" 1. Describe three different forecasting applications at Hard Rock. Name three other areas in which you think Hard Rock could use forecasting models. Hard rock café divide the forecast in long term methods where the expectations are to establish a better capacity plan and short term methods where they look for good contracts with suppliers for leather goods (clothes etc.) and definately to be more negotiable with the suppliers of food products. Also hard rock café pays attention to potencial revenues using pricing and costing information of every café. Short term of sales forecasts are calculated each month by every established site. Forecasting models could be…show more content…
y there will be more visitors which increases the sales) - vacation/holiday time around the shop and in other regions if it´s predicted that they will transit the shop (but carefull, maybe a lot of local people are moving out for vacation, so there will be less sales) - groceries costs including food and beverages/costs of living (maybe some people will stay at home, it the price for living costs are rising) - special offers from other burger restaurants (sales will decrease if there is more competition) - dates when people get their salaries or bonuses are payed like at Christmas (if people have more money to spend, they will indulge in
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