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They asked about applying forecasting techniques like 2 moving average and naive

They asked about applying forecasting techniques like 2 moving average and naive

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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They asked about applying forecasting techniques like 2 moving average and naive ..
XYZ Company for Tea Production XYZ Co is a prominent company in the FMCG industry. It provides 400 different brands spanning 14 categories of home, personal care and foods products. XYZ is now one of the world's biggest companies. Their first business in the Middle East started in Saudi Arabia in the 1930's and by 1978, the first factory was set up in Jeddah to supply the Middle East region with home and personal care products. In Egypt, XYZ established in 1991 a joint venture with an Egyptian company creating one of the largest FMCG businesses in Egypt. In 2000, XYZ established its tea factory in Borg El Arab to produce high quality tea. The total sales for XYZ (the tea factory) were around 60 Million Egyptian pounds during year 2020. The company is operating under a strategy that aims to provide the best tea tasting experience to its customers (differentiation strategy). Forecasting During the last board of directors meeting, there was a hot discussion about the future of the tea business. The General Manager of the tea business shared the latest sales numbers. He highlighted the constant growth in sales in years 2018, 2019 and 2020. However, the current conditions in Egypt and the world calls for reassessment of their future sales. Thus, the General Manager highlighted the need to reassess the forecasting techniques that they currently use. Month Year 2018 Year 2019 Year 2020 Jan 185000 240000 257000 Feb 203000 234000 250000 Mar 206000 229000 240000 228000 235000 Apr May Jun 208000 210000 215000 295000 192000 265000 208000 252000 Jul 255000 230000 Aug Sep Oct 190000 200000 220000 201000 210000 225000 225000 183000 200000 Nov 207000 227000 250000 Dec 225000 237000 271000
Transcribed Image Text:XYZ Company for Tea Production XYZ Co is a prominent company in the FMCG industry. It provides 400 different brands spanning 14 categories of home, personal care and foods products. XYZ is now one of the world's biggest companies. Their first business in the Middle East started in Saudi Arabia in the 1930's and by 1978, the first factory was set up in Jeddah to supply the Middle East region with home and personal care products. In Egypt, XYZ established in 1991 a joint venture with an Egyptian company creating one of the largest FMCG businesses in Egypt. In 2000, XYZ established its tea factory in Borg El Arab to produce high quality tea. The total sales for XYZ (the tea factory) were around 60 Million Egyptian pounds during year 2020. The company is operating under a strategy that aims to provide the best tea tasting experience to its customers (differentiation strategy). Forecasting During the last board of directors meeting, there was a hot discussion about the future of the tea business. The General Manager of the tea business shared the latest sales numbers. He highlighted the constant growth in sales in years 2018, 2019 and 2020. However, the current conditions in Egypt and the world calls for reassessment of their future sales. Thus, the General Manager highlighted the need to reassess the forecasting techniques that they currently use. Month Year 2018 Year 2019 Year 2020 Jan 185000 240000 257000 Feb 203000 234000 250000 Mar 206000 229000 240000 228000 235000 Apr May Jun 208000 210000 215000 295000 192000 265000 208000 252000 Jul 255000 230000 Aug Sep Oct 190000 200000 220000 201000 210000 225000 225000 183000 200000 Nov 207000 227000 250000 Dec 225000 237000 271000
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