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# MGMT617 - Production Planning and Inventory Control GDB No. 1 Solution Fall 2018 Due Date: December 03, 2018

MGMT617 - Production Planning and Inventory Control GDB No. 1 Solution Fall 2018 Due Date: December 03, 2018

Total Marks 10
Starting Date Wednesday, November 28, 2018
Closing Date Monday, December 03, 2018
Status Open
Question Title GDB 1
Question Description

Following are the sales data of past 12 months of XYZ Co. You, being the manager of company, have to choose a suitable method for forecasting from Moving Average Method and Exponential Smoothing Method to predict future sales.

Use a 3-period moving average for first method; and α = 0.2 for exponential smoothing model and decide which method is more appropriate.

 Period Demand 1 760 2 1137 3 1565 4 1240 5 1034 6 1529 7 1824 8 1567 9 1342 10 2071 11 2414 12 2207

Note:

• Show the forecasts along with necessary calculations in tabular form.
• Compare mean absolute deviation (MAD) for both models and decide which model gives better forecasts.
• You may solve the problem in MS Excel and copy/paste the tables in GDB comments.

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