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Forecasting applied to the workplace.The purpose of this assignment is to begin applying HR forecasting through using both HRdemand forecasting techniques and methods and HR supply forecasting...

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Forecasting applied to the workplace.
The purpose of this assignment is to begin applying HR forecasting through using both HR

demand forecasting techniques and methods and HR supply forecasting techniques and

methods to determine internal and external supply.

This is an individual or pair assignment. You may complete the assignment on your own or in a

group of two (yourself and one other individual). If you are completing as a pair, only one

submission needs to be submitted on Blackboard, and both student names and numbers need

to be clearly written in the document.

The assignment is expected to be properly formatted, with a cover page, Calibri size 12 font,

and proper APA citations for all work referenced. Style, formatting, grammar, and spelling will

be included in the grades and may be docked from the overall grade. Submit on Blackboard as a

Word document along with an Excel document to showcase all mathematics. The length of the

completed document will be one to three pages, not including the cover page, excel document,

appendices, or references. The excel document cannot have static numbers in any calculation

cell. Static numbers will be the same as a wrong answer. Excel must be used with formulas to

calculate all forecasting projections. Part A and B will not be graded if it is not completed in

excel. Part C should be completed in the word document described above. Information

calculated in the excel should be referenced in the word.

Rubric:

Section

Score

Grade

Part A: HR Demand

6

Part B: HR Supply

4

Part C: Q1

4

Part C: Q2

2

Part C: Q3

8

Structure of Paper

1

Total

25

Overview

For this assignment you are acting as the HR manager for Nala Co., a horse blanket

manufacturing company which sells its products to various retailers throughout North America.

Customer demand for horse blankets has been quite steady over the past several years and this

is not expected to change. You have been provided with sales projections and have been tasked

to forecast the labour demand and supply requirements of the organization for the next three

years. Any assumptions used to analyze in Part C can be stated, but you must also include

information provided within this assignment.
Answered Same Day Oct 10, 2023

Solution

Banasree answered on Oct 11 2023
20 Votes
Page | 2
Part A
1.Ans
    Ratio Analysis
    Yea
    Sales (Thousands $)
    HR Demand (# of EEs)
    ERR
    2019
    2800
    155
    0.055
    2020
    3050
    171
    0.056
    2021
    3195
    166
    0.052
    2022
    3300
    177
    0.054
2.Ans.
    Ratio Analysis
    Yea
    Sales (Thousands $)
    HR Demand (# of EEs)
    ERR
    2019
    2800
    155
    0.055
    2020
    3050
    171
    0.056
    2021
    3195
    166
    0.052
    2022
    3300
    177
    0.054
    2023
    3500
    188
    
    2024
    3600
    193
    
    2025
    3850
    207
    
3.Ans
    Ratio Analysis
    
    
    Yea
    Sales (Thousands $)
    HR Demand (# of EEs)
    ERR
    
    
    2019
    2800
    155
    0.055
    
    
    2020
    3050
    171
    0.056
    
    
    2021
    3195
    166
    0.052
    
    
    2022
    3300
    177
    0.054
    0.054
    Avg
    2023
    3750
    203
    
    
    
    2024
    4200
    228
    
    
    
    2025
    4450
    241
    
    
    
Part B:
1.Ans.
    Plant: Kovu
    Jo
    Employee Numbers
    Job A
    200
    Job B
    70
    Job C
    60
    Job D
    100
    Transition Probability Matrix
    
    Start Of Yea
    End Of Yea
    Expected Supply at Year End
     
    Job A
    Job B
    Job C
    Job D
    Exit
    
    Job A
    80%
    10%
    5%
    0%
    5%
    170
    Job B
    10%
    70%
    0%
    10%
    10%
    79
    Job C
    0%
    0%
    90%
    5%
    5%
    59
    Job D
    0%
    0%
    0%
    90%
    10%
    97
2.Ans.
    Plant: Kiara
    Jo
    Employee Numbers
    Job A
    1478
    Job B
    886
    Job C
    592
    Job D
    1017
    Transition Probability Matrix
    
    Start Of Yea
    End Of Yea
    Expected Supply at Year End
     
    Job A
    Job B
    Job C
    Job D
    Exit
    
    Job A
    80%
    10%
    5%
    0%
    5%
    1300.6
    Job B
    10%
    70%
    0%
    10%
    10%
    869.7
    Job C
    0%
    0%
    90%
    5%
    5%
    583.65
    Job D
    0%
    0%
    0%
    90%
    10%
    1003.9
Part C:
1.Ans.
A decision by a Nala Co. to implement a quantitative method for demand forecasting will be a reasonable choice, but it is important to consider the context and comparative advantages of quantitative methods and qualitative methods for informed research. Quantitative forecasting methods heavy depends on the historical data, statistical models, and statistical methods to make research predictions (Rajesh, 2019)). They are especially useful when dealing with data-driven projects, static demand models, and historical sales data. Here are some reasons why quantitative methods might be reasonable.
i. Quantitative method: This method relies on robust data, perfect for the research objective and minimizing human bias and subjectivity. For the Nala Co which sells horse blankets to various retailers, historical sales data and models are essential to accurately forecast future needs (Jiang, 2019).
ii. Precision and Accuracy: Quantitative measurement methods can provide more accurate accounting for forecasts, making them better in-line with the organizations that need specific information to plan production, inventory, and personnel needs. This accuracy is important for a manufacturing company like Nala Co., which needs to use resources more efficiently.
iii. Time series analysis: Statistical methods such as time series analysis, moving averages, and exponential smoothing can effectively capture trends and seasonal patterns in historical sales data, which can enable the Nala Co. to drive permanent change in demand forecast.
iv. Forecasting tools: There are many software and tools available for quantitative forecasting, which can automate the process and provide faster and more reliable results. This can save the gutter company time and resources. Such as SPSS, SAS, Tableau etc.
v. Measurable performance: Quantitative methods allow you to measure the accuracy of research data forecasts and continue to refine the predicted models....
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