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    Tata Steel Sales Forecast Report For Chrome Product

    Uploaded by

    Vishal
    The document provides a sales forecasting report for Charge Chrome produced by Tata Steels Limited over the next four quarters, using various forecasting techniques such as trend analysis, exponential smoothing, seasonal variation, and moving averages. It finds that trend analysis produces the lowest mean square error and thus best explains the forecasted sales data. It recommends the manager create sufficient infrastructure and efficiently allocate resources to meet the forecasted increasing sales.

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    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd

    Tata Steel Sales Forecast Report For Chrome Product

    Uploaded by

    Vishal
    382 views3 pages
    The document provides a sales forecasting report for Charge Chrome produced by Tata Steels Limited over the next four quarters, using various forecasting techniques such as trend analysis, exponential smoothing, seasonal variation, and moving averages. It finds that trend analysis produces the lowest mean square error and thus best explains the forecasted sales data. It recommends the manager create sufficient infrastructure and efficiently allocate resources to meet the forecasted increasing sales.

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    Tata Steel Sales Forecast Report for Chrome Product

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    The document provides a sales forecasting report for Charge Chrome produced by Tata Steels Limited over the next four quarters, using various forecasting techniques such as trend analysis, exponential smoothing, seasonal variation, and moving averages. It finds that trend analysis produces the lowest mean square error and thus best explains the forecasted sales data. It recommends the manager create sufficient infrastructure and efficiently allocate resources to meet the forecasted increasing sales.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    382 views3 pages

    Tata Steel Sales Forecast Report For Chrome Product

    Uploaded by

    Vishal
    The document provides a sales forecasting report for Charge Chrome produced by Tata Steels Limited over the next four quarters, using various forecasting techniques such as trend analysis, exponential smoothing, seasonal variation, and moving averages. It finds that trend analysis produces the lowest mean square error and thus best explains the forecasted sales data. It recommends the manager create sufficient infrastructure and efficiently allocate resources to meet the forecasted increasing sales.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    TATA Steels Limited

    Sales Forecasting Report


    Product: Charge Chrome

    [Type the
    Submitted To author name] Submitted By

    Mrs. Asmita Chitnis 9020241003


    9020241039
    Ashamdeep Singh Cheema
    Harshleen Kaur Sawhney
    9020241048 Vishal Singla
    9020241050 Abhisake Sharma
    9020241053 Arpit Sihra
    9020241054 Bidrupa Sinha
    9020241065 Sonam
    Introduction: Tata Steel, the sixth largest steel producer globally, is also India’s largest fully-integrated
    player of chrome. “Tata Steel is a recognized, credible and quality-conscious supplier across the globe
    and is the only Asian company to receive the ‘main producer’ status for supplying ferrochrome to
    customers in Japan and Europe. Steel or stainless steel has now become a lifestyle product, entering
    households as elegant cutlery, tableware and decorative items; the average consumption of stainless
    steel has grown at around 4.5 per cent in the last few years. What gives steel the ‘stainless’ edge is
    chromite ore.

    Product: Charge Chrome.

    Problem: To forecast the sale of Charge Chrome for the next four quarters starting Mar 10.

    Forecasting Methodology: To forecast the sales for the next four quarters, We have used the following
    forecasting techniques.

    • Trend Analysis
    • Seasonal Variation
    • Exponential Smoothing
    • Moving Averages(3 and 4 Quarter)
    • Weighted Moving Average(3 and 4 Quarter)

    Findings:

    Technique Used Mean Square Error Appendix


    Trend Analysis - 967.64 I
    Seasonal Variation 3 Qtr. Moving Avg. 1162.58 II
    4 Qtr. Moving Avg. 1521.90 II
    3 Qtr. Weighted Moving Avg. 1044.86 II
    4 Qtr. Weighted Moving Avg. 1223.60 II
    Exponential α=0.2 2185.59 III
    Smoothing α=0.5 1072.35 III
    α=0.8 974.12 III
    Moving Average 3 Qtr. Moving Avg. 1240.51 IV
    4 Qtr. Moving Avg. 1562.90 IV
    3 Qtr. Weighted Moving Avg. 1126.07 IV
    4 Qtr. Weighted Moving Avg. 1285.88 IV

    Using trend analysis, exponential smoothing, seasonal variation techniques we have forecasted sales
    data for the next four quarters. As calculated in appendices, the mean square error for trend analysis is
    the least. This implies the forecasting of sales data is best explained by Trend Analysis out of the
    techniques used.

    Suggestions and Recommendations: As per our analysis, we forecast the following sales for the next
    four quarters using the data from Trend Analysis.

    Sr. No Quarter Forecasted Sales (in Rs. Cr.) Actual Sales ‘09 Appendix
    1 Mar ‘10 274.43 288.4 I
    2 June ‘10 282.91 261.7 I
    3 Sep ‘10 291.38 265.3 I
    4 Dec ‘10 299.86 297.1 I

    As compared to actual sales of ’09, the forecasted sales are increasing except for quarter (Mar
    ’10).Therefore, we suggest the manager to create sufficient infrastructure and efficient resource allocation
    to meet the forecasted sales.
    APPENDICES

    Please find the attached excel sheet for the appendices.

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