Module 4 Assignment

“I affirm that I have not given or received any unauthorized help on this
assignment, and that this work is my own.”

Signature ________________________
DIZON, DIETRICH J.
BS CHE
Cite a company that uses or applies the forecasting model to manage their
business. Your discussion must include but is not limited to the following:

1. The nature of business of the company, business problem related to the

forecasting model.
2. Application of the forecasting model.
3. Benefit of applying the model.

I think all companies uses forecasting model especially all those big companies, one
of these is Apple. Apple is one of the largest technology company in the world. The
company develops and manufactures electronic devices that includes
smartphones, laptop, desktop, tablets and even watches. Forecasting the demand
for the product is very important to the company. The importance of forecasting
model to the company is that it will determine the quantities that should be
manufactured by the company. According to to Herner (2011) consensus method
is one of few methods used by the company under the judgmental approaches to
forecast its demand. In here, company’s top executives would meet and will have
a general forecast or outlook for the company that is based on the projected and
previous sales.
Moreover, the company also uses tentative approaches in their forecasting model
to receive some estimation of the potential demand rate for the product. In here
company uses customer surveys that are time conducted with the use of phones.

With the use of tentative approach, they could potentially get the desired demand
in that particular area or store. In all, forecast demand strategies of the company
have encouraged the company to grow its business and form other strategies on
how to make earnings through services and manufacturing electronics. Using and
focusing on forecasting demand it made a great success.