Forecasting applied to the workplace.The purpose of this assignment is to begin applying HR...

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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.

admn3270-individual-or-pair-assignment-instructions-and-rubric-4-skvphvse.pdf

Answered Same Day Oct 10, 2023

Banasree · Accepted Answer

Page | 2
Part A
1.Ans
	Ratio Analysis
	Year
	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
	Year
	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
	
	
	Year
	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
	Job
	Employee Numbers
	Job A
	200
	Job B
	70
	Job C
	60
	Job D
	100
	Transition Probability Matrix
	
	Start Of Year
	End Of Year
	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
	Job
	Employee Numbers
	Job A
	1478
	Job B
	886
	Job C
	592
	Job D
	1017
	Transition Probability Matrix
	
	Start Of Year
	End Of Year
	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.

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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