A forecast is constructed from previous demand for the product & you will base your action from it. We choose 5 because it has variability.
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Maddie Ladner
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Xu Yueting
People do forecast depends on customers demand (quantity and quality )
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Annabelle Chen
You see a general pattern and a prediction of the market;comes from the past accounting data; we would buy six.
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Riley Guttman
I would sell four, because I would only need to sell two to break even.
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Mabel Teng
forecast is used to predict the future trends based on past data. It depends on the product since there’s an equal likehood for each demand.
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Jiacheng Shen
I will buy 5 to minimize the risk,the past data help to make decision
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Mikhail Nikolaychuk
Buy 10 units, trying to maximize revenue, thereby maximizing profit
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Jessica Ng
We base future decisions from forecasts. Information comes from past records. We want to buy at price that minimizes risks but max profits
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Huijia Yang
We are going to sell 2 because we can make at least a profit of 1 dollar.
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huijiayang
I mean buy 2…
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Karina Chadijah
A forecast can help decision making processes and anticipate potential problems that may arise.
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Kwok Ching Him
How much to buy?
– Average sales within a period of time, E.g. 3 week, within 1 sd
– probabiliy
to make sure not much if any were leftover. -
Clement Hue Yat Kong
To find the probability of things happening. Information comes from market research and past experiences. We will buy 5 to lower risks.
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Caitlin Lim
Forecasts can help determine how much inventory to buy. From past data. We would likely buy 5 to minimize risk.
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Yssa Romero
We’ll buy 5 to minimize risks. Buying too little may not be able to fulfill the demand and buying too much may be excessive.
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Paul
We will buy 2. This costs us $2. Even if we only sell one, we will still break even.
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paulfreiwirth
***Buy 3. Cost $3. Even if we sell only one, we still break even.
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michellesieklucki
We would buy 6, spending $6 on cost because of the 60% chance of breaking even. We have room to make a profit if we sell more.
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Jake Black
6 or 7 would be optimal because the opportunity cost is less, if you buy 7 and only sell 6 you still make more than buying and selling 5.
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amnamasud
We forecast that there is a 50% chance the demand will be less than 5 or more than 5. Therfore, we should buy 5 units
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Megan Chan
information for forecasts are based on past statistics and sales
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Jennie Yan
3 because even with the worst case scenario (we sell 1), we would end up breaking-even. So no matter what happens, we won’t lose money.
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jennieyan
Alex Wou, Alan Huang, Lilian Tseng
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admin
Forecast determines requisite strategy for the upcoming period. The information likely comes from accounting (past data). Buy five.
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Fengke Tan
We would buy 4 or 6 because basically its the safest way to do it.
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victoriayang
I would buy 10 – it would cost $10 and you would only have to sell 4 to recoup costs. That way if you sell more, you make more profit.
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Fangxian Guan
We would buy three because of the fact that we can break even with the sale of one unit. The risk is minimized.
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Kwok Ching Him
What will you do with a forecast
– Adjust production / inventory.
– Demand / Sales / Customer feedback. -
Karlyn Evans
Forecast used to help make decisions on what to buy/sell. The information comes from past data. We would buy around five, minimize risk.
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ziluezheng
I will buy 5 because it is right in the middle. therefore it minimize risk as it is in the middle. accounts for demand deviation.
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Jiacheng Shen
Better and more feedback can be got from consumers and this can improve the product
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nando
you can build a unique brand as you create your direct relationship with the costumers and to reduce the cost from supply chain.
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Yiyin Zhang
The supply chain is shorter. Shortening the distance between producer and customer and producing product that meets people’s need.
rileyguttman 8:09 am on September 24, 2013 Permalink | Log in to Reply
I meant to say buy four instead of sell four.