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Yankee Fork and Hoe

In: Business and Management

Submitted By mallory143
Words 1127
Pages 5
Forecasting is a critical component of balancing supply in order to meet customer needs while ensuring costs are kept low. Without proper forecasting, companies can see a direct hit to their bottom line by keeping too much inventory resulting in capacity issues, as well as by losing customers due to not having enough inventory. In the case of Yankee Fork and Hoe Company there are several issues with the forecasting system used in each department and these issues need to be rectified in order to improve cross-functionality and customer service for the company.
The Marketing Department
When Sharon Place is tasked with figuring out the issues in forecasting within the company, one of the people she sees is Ron Adams, the marketing manager. Adams explains that he meets with several managers from each sales region and goes over the shipping data from the prior year as well as upcoming promotions, economic conditions, and shortages from the prior year. He then creates a monthly forecast for the following year. This process is clearly not working, and since the production department relies heavily on the forecasting from marketing, adjustments must be made.
Recommendation:
Adams needs to find a quantitative method to create a forecast as opposed to the qualitative one he is currently using. He is also using the shipping data to make his suggestions as opposed the actual demand data. This is a problem since the company has had issues meeting the demand, therefore relying on the shipping data will not be helpful. Future demand is what should be of concern to the marketing department, and by viewing past shipping records Adams is only getting data on past problems with on time delivery.
When deciding which quantitative method to use, Sharon Place needs to look at what type of data she has regarding the bow rake. When examining the demand for each month, it appears to…...

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