Read through the Case Study entitled “M&L Manufacturing” in Chapter 3 of your textbook. Examine the historical trend this company has experienced for the two products discussed.
Prepare weekly forecasts for the next four weeks for both products, describe the forecasting method you chose and explain why that forecasting method is best suited to the scenario. Explain why you did, or did not, choose the same forecasting method for each product. What are the benefits of using a formalized approach to forecasting these products?