Inventory Forecast

Inventory Forecast Don Draper QRB/501 November 24, 2010 Jim Easley Inventory Forecast Forecasting is an integral fate in the manufacturing of product and sales activity in organizations. Businesses moldiness look revenues, anticipated product demands, head count demand for planning purposes, setting numbers from which measurements preempt be do regarding growth and trends, for use in future forecasting. For example, retailers and manufacturers must forecast anticipated inventories to meet customer demand, income and sales revenue and expenses. Demand, however, can be seasonal depending on product type and stigma market strategies. As an example for seasonality, retailers such as object Corporation or Wal-Mart, with their vast product line, may give birth a dramatic increase in sales during circumstantial seasons, such as childrens clothing and school supplies in the F any, or the holiday season on holiday décor making account adjusts based on past execution to meet the needs of the consumer, adjusting inventories accordingly. Apparel retailers such as GAP, or Old Navy may see a card in sales in clothing sales with seasonal changes and academic year commencement as students prepare for another(prenominal) school year.

Different product offerings are available during distinguishable seasons, and will change accordingly. Consumers are apt to purchase wintertime apparel like coats or jackets during the fall and winter; term switching apparel to lighter weight pieces during warmer brook demanding and shift in inventory by retailers. In all of the above, historical data becomes necessary to forecast demand and inventory needs, while tracking trends for future growth opportunities. Maintaining accurate data and inventory levels enable companies to meet customer demands and also take the carrying costs of storing and maintaining unsold inventory. This purpose of this paper is to provide an psychoanalysis of the inventories for an organization over a period of four years.... If you inadequacy to get a full essay, order it on our website: Orderessay

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