In: Finance
The following table presents the orders of Samson Company for the last 36 months (3 years).
Month |
Order Year 1 |
Order Year 2 |
Order Year 3 |
January |
450 |
600 |
612 |
February |
418 |
575 |
668 |
March |
490 |
580 |
680 |
April |
451 |
534 |
653 |
May |
466 |
555 |
674 |
June |
511 |
604 |
702 |
July |
522 |
624 |
724 |
August |
500 |
612 |
716 |
September |
502 |
633 |
712 |
October |
523 |
634 |
724 |
November |
533 |
643 |
735 |
December |
534 |
676 |
755 |
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By including qualitative
factors such as customer's preferences, external variables,
regulatory changes, one can make the forecast more robust and
reduce the error in the forecast. Also, this would lead to better
planning and optimizing the inventory in the process.