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    Forecasting at KFC

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    Usama Khan
    KFC uses quantitative forecasting techniques like the moving average method to predict demand. While quick and easy to understand, the moving average method is slow to react to sudden changes and assigns equal weight to all data points. To improve forecasts, KFC should develop software tailored to its local needs, use a weighted moving average that emphasizes newer data more, and conduct more consumer surveys for qualitative forecasts.

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    Forecasting at KFC

    Uploaded by

    Usama Khan
    180 views3 pages
    KFC uses quantitative forecasting techniques like the moving average method to predict demand. While quick and easy to understand, the moving average method is slow to react to sudden changes and assigns equal weight to all data points. To improve forecasts, KFC should develop software tailored to its local needs, use a weighted moving average that emphasizes newer data more, and conduct more consumer surveys for qualitative forecasts.

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    KFC uses quantitative forecasting techniques like the moving average method to predict demand. While quick and easy to understand, the moving average method is slow to react to sudden changes and assigns equal weight to all data points. To improve forecasts, KFC should develop software tailored to its local needs, use a weighted moving average that emphasizes newer data more, and conduct more consumer surveys for qualitative forecasts.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    180 views3 pages

    Forecasting at KFC

    Uploaded by

    Usama Khan
    KFC uses quantitative forecasting techniques like the moving average method to predict demand. While quick and easy to understand, the moving average method is slow to react to sudden changes and assigns equal weight to all data points. To improve forecasts, KFC should develop software tailored to its local needs, use a weighted moving average that emphasizes newer data more, and conduct more consumer surveys for qualitative forecasts.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    of 3

    Forecasting at KFC

    Forecasting

    Quantitative Qualitative

    Moving Executive
    Average Opinions
    Moving Average Technique

    • Quick results & easy to understand


    • Use recent data which results in more
    Pros “realistic” calculation
    • “Smoothed” forecasts

    • Assigns same weightage to all values


    • Slow to react to sudden changes in
    Cons demand (less sensitive)
    Suggestions for forecasting at KFC

    Develop a software according to local


    culture/standards

    Assign more weightage to latest data—Weighted


    Moving Average Technique

    More focus on consumer surveys needed

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