Prepare demand forecasts for the next four quarters for all four products.
(530-3 )Electronic Manufacturing Inc. is dedicated to the production of diverse products related to computers. Below you will see the production data of four of their products during the past 3 years presented in quarters.Examine the historical production trends and address the following:
Prepare demand forecasts for the next four quarters for all four products.
Describe the forecasting method you chose and explain why that forecasting method is best suited to this scenario.
Explain why you did, or did not, choose the same forecasting method for each product.
What are the benefits of using a formalized approach to forecasting these products?
| Year 1 | Products | |||
| Quarter | Motherboard | Hard Drive | Video Card | Ink |
| 1 | 2,550 | 1,525 | 1,855 | 5,250 |
| 2 | 995 | 1,025 | 1,285 | 4,250 |
| 3 | 3,850 | 3,025 | 4,240 | 5,155 |
| 4 | 2,855 | 3,175 | 1,970 | 5,345 |
| Total | 10,250 | 8,750 | 9,350 | 20,000 |
| Year 2 | Products | |||
| Quarter | Motherboard | Hard Drive | Video Card | Ink |
| 1 | 4,025 | 3,965 | 3,525 | 9,350 |
| 2 | 2,595 | 3,025 | 3,025 | 9,005 |
| 3 | 6,225 | 3,250 | 7,320 | 9,255 |
| 4 | 5,905 | 4,125 | 3,480 | 10,640 |
| Total | 18,750 | 14,365 | 17,350 | 38,250 |
| Year 3 | Products | |||
| Quarter | Motherboard | Hard Drive | Video Card | Ink |
| 1 | 5,275 | 4,905 | 4,850 | 13,250 |
| 2 | 3,350 | 4,250 | 4,325 | 13,125 |
| 3 | 7,005 | 4,105 | 8,150 | 13,325 |
| 4 | 6,730 | 5,535 | 4,625 | 15,775 |
| Total | 22,360 | 18,795 | 21,950 | 55,475 |