MGT3059 Week 2 Discussion Assignment: Forecasting

Select a product that you can purchase at a grocery store or at a discount retailer and respond to the following:

·         Identify the factors that would impact the demand for the product that you have selected.

·         If you wish to develop a forecast of the demand for this product in a future month (or for other appropriate time period), identify what type of forecasting method would be appropriate.

·         Identify the variables for which you would need values to be able to calculate an actual forecast for a future month (using the forecasting method you selected).

·         Create an equation that you believe would accurately predict the demand for this product in a future month and solve the equation to derive a forecast for this product in the future month that you had selected.