Forecasting product demand of a bottling company in Ghana

Abstract

Forecasting product demand is crucial to any supplier, manufacturer, or retailer; as the process determines the quantities that might be purchased, produced, supplied or shipped in future. For forecasting product demand of a Bottling Company in Kumasi (Ghana), seasonality indices were calculated to predict the demand levels of 3 products for the next 5 years based on the previous 5 years data. The results showed that one of the products enjoyed a higher volume of demand. The forecast data could be used to plan the production, in relation to peak and off-peak demand of the products; particularly, the period of the year for which production must be increased above normal.

Journal of Applied Science and Technology Vol. 13 (1 & 2) 2008: pp. 122-128