Activity 2.

1:
a. VRL - A logistic company interested in expanding its geographical coverage of
supply and distribution based upon development in market demand. Market
Research Method.
Market research is an approach that uses surveys and interviews to determine
customer likes, dislikes, and preferences and to identify new- product ideas.
Usually, the company hires an outside marketing firm to conduct a market
research study. There is a good chance that you were a participant in such a
study if someone called you and asked about your product preferences. For
example, a market research firm may call and ask you to identify which of the
following is your favorite hobby: gardening, working on cars, cooking, or
playing sports. Since VRL has come to know the market demand i.e. customer
preferences is already known, this method suites best.

b. HUL interested in product update & new product development in various

portfolios.
Executive Opinion Method.

Executive opinion is a forecasting method in which a group of managers meet

and collectively develop a forecast. This method is often used for strategic
forecasting or forecasting the success of a new product or service. Sometimes it
can be used to change an existing forecast to account for unusual events, such
as an unusual business cycle or unexpected competition.

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 It’s a very good method of forecasting for a new product development. Since
HUL is planning for new product development, this method suites best.

c. KOMFORT ROYAL – a furniture company would be interested in aggressive push

strategies & interested for developing promotional programs.
Market research

Market research is an approach that uses surveys and interviews to determine

customer likes, dislikes, and preferences and to identify new- product ideas.
Usually, the company hires an outside marketing firm to conduct a market
research study. There is a good chance that you were a participant in such a
study if someone called you and asked about your product preferences. For
example, a market research firm may call and ask you to identify which of the
following is your favorite hobby: gardening, working on cars, cooking, or
playing sports. Since Komfort Royal is trying to reach customers, this method
helps them to get a better idea of the customer preferences.

d. GENIUS SOFT – an app development company looking for reduction in lead

time of new app development.
Delphi method

The Delphi method is a forecasting method in which the objective is to reach a

consensus among a group of experts while maintaining their anonymity. The
researcher puts together a panel of experts in the chosen field. The researcher's
job is to identify what the experts agree on and use that as the forecast. This
method has the advantage of not allowing anyone to dominate the consensus,
and it has been shown to work very well. Although it takes a large amount of
time, it has been shown to be an excellent method for forecasting long-range
product demand, technological change, and scientific advances in medicine,
softwares. For example, if you wished to predict the timing for a covid 19
vaccine you would probably use this technique. They coming up with new app
better lead time makes this method to forecast it better than any other method.
Activity 2.2:

a. From the given below table, shares the data from 2016 to 2018, no. of cars sold in a dealer of Maruti Suzuki
showroom.
Identify the requirement for the following ‘January’.
Exp. Exp.
Smoothin Smoothin MSE : α = 0.3 MSE : α = 0.5 APE,α=0. APE,α=0.
Peroi Business Deman
g g 3 5
d cycle d
α = 0.3 α = 0.5 Ei (Ei)2 Ei (Ei)2 %Ei %(Ei)2
I quarter 1100.0 1100.00 1100.00 0.00 0.00 0.00 0.00 0.00 0.00
0
II quarter 900.00 1100.00 1100.00 200.0 40000.00 200.0 40000.00 22.22 22.22
2016
0 0
III quarter 920.00 1040.00 1000.00 120.0 14400.00 80.00 6400.00 13.04 8.70
0
IV quarter 1200.0 1004.00 960.00 196.0 38416.00 240.0 57600.00 16.33 20.00
0 0 0
I quarter 1400.0 1062.80 1080.00 337.2 113703.8 320.0 102400.0 24.09 22.86
0 0 4 0 0
II quarter 1600.0 1163.96 1240.00 436.0 190130.8 360.0 129600.0 27.25 22.50
2017
0 4 8 0 0
III quarter 1750.0 1294.77 1420.00 455.2 207232.5 330.0 108900.0 26.01 18.86
0 3 3 0 0
IV quarter 1410.0 1431.34 1585.00 21.34 455.41 175.0 30625.00 1.51 12.41
0 0
I quarter 1300.0 1424.94 1497.50 124.9 15609.57 197.5 39006.25 9.61 15.19
0 4 0
II quarter 1840.0 1387.46 1398.75 452.5 204795.3 441.2 194701.5 24.59 23.98
2018
0 4 5 5 6
III quarter 2010.0 1523.22 1619.38 486.7 236955.0 390.6 152587.8 24.22 19.43
0 8 0 3 9
IV quarter 1650.0 1669.25 1814.69 19.25 370.71 164.6 27121.97 1.17 9.98
0 9
2019 I quarter 1663.48 1732.34
MAD MSE MAD MSE MAPE MAPE
5
 237.4 88505.78 241.5 74078.56 15.84 16.34
4 9
The Forecasting demand for cars at January 2019 at α = 0.3 is 1664 and when α = 0.5 is 1733.

Activity 2.3:

a. From the given below table, identify 5 examples each with detailed specification.

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Product – Process matrix 5 examples with specification details
Job Shop
1. Paint Shop (A specific customized colour for a
house/room like sky blue mixed with reddish green).
2. 3D printing (A specific pattern or particular shape like
Name printing)
3. Photo Lab ( Passport size photos, weeding event photos
printing)
4. Tailor Shop (Stiching shirt for particular person of
required size and shape)
5. Surgery (A cosmetic surgery undergone by actress

or actor).

Batch Shop 1. Advertisement Printers (copy center making 10,000

copies of an ad piece for a business)
2. Bakery (Making of vegetable puffs and bread loaves for
that day’s sales)
3. Medicine Production (manufacturing a composition of
medicines for particular diseases like covid 19 vaccine
trail)
4. Scheduling Air travel (Boeing Air bus carrying
passengers starting from USA and reaching India).
5. One Plus 8 (The one plus 8 released a limited-edition
McLaren Edition only few in number and was a very
limited edition and was in sale during launch).

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Assembly Line 1. Car Assembly (Toyota manufacturing Innova, Fortuner
by series of assemblies and sub-assemblies of the
individual parts)
2. Passport Verification (A continuous processes
happening from Biometric to issuing of the passport at
passport office)
3. Mobile Phones (Assembling of all the apple iPhone
products at Foxconn, Shenzen, China
4. Milk Production (Series of operations happening at
KMF to produces milk packets, i.e. filling of milk,
cutting of packets, label printing and arranging in
crates)
5. Cool drinks manufacturing (Series of operations
happening at Coco-Cola, i.e. Filling of coco-cola in
bottle, fastening of cap, label printing, arranging the
bottles in a crate).

Continuous / Mass 1. Sugar refinery (Production of jaggery in huge numbers,

continuously)
2. Petroleum refineries (Extraction of crude oil and
refining of petrol at Bombay High)
3. Plants making Beer (Kingfisher Producing Beer in
lakhs of liters continuously)
4. Steel plants (Jindal Steel Plant making huge number of
rods of steel from raw materials in metric tonnes)
5. Mining Process (Extraction of gold at Kolar gold

fields from several decades continuously).