1. What are some of the potential benefits of a more formalized approach to forecasting?
2. Prepare a weekly forecast for the next four weeks for each product. Briefly explain why you chose the methods you used.
M& L Manufacturing makes various components for printers and copiers. In addition to supplying these items to a major manufacturer, the company distributes these and similar items to office supply stores and computer stores as replacement parts for printers and desktop copiers. In all, the company makes about 20 different items. The two markets (the major manufacturer and the replacement market) require somewhat different handling. For example, replacement products must be packaged individually whereas products are shipped in bulk to the major manufacturer.