While utilizing this approach, the company gathers the knowledge and opinions of the people, therefore they become in a positions where they would know the appropriate demand for their products. The importance of this strategy is to address the forecasting subject by assuming that consumers are aware of high quality of the company’s products and can recommend others to buy the same product. Apple Company forecasts the demand in order to determine the quantity of the products it will manufacture through a series of approaches. This means that market capitalization of the company is larger than that of its competitors, Google and Microsoft put together (Creamer, 2012).Īccording to Herner (2011), in order for the company to gain such high levels of growth and development, it has embarked on the demand forecasting and inventory management. The company has an estimated value of $626 billion listed in the New York Stock Exchange. is the largest publicly traded company in the world by market capitalization. It has also been crowned to be the most admired company in the United States in 2008 and the most admired company in the world from 2008 to 2012. The company is the third largest mobile phone manufacturer in the world after Samsung and Nokia. forecasts demand since this is the basic operation process and helps the company to determine the quantity it should manufacture and distribute to its retail outlets (Booker, 2007). It is important for the supplier, manufacturer and retailer to conduct the forecast analysis of Apple’s products in order to determine the quantities that should be manufactured by the company. Demand Forecasting and Inventory Managementįorecasting the demand for Apple products is one of the most important steps that the company has undertaken. This research therefore seeks to establish how Apple forecasts demand and manages its inventory (Apple Computer Inc., 2006). The company will therefore have to search for ways in which it will maintain its market dominance as well as capture new and emerging markets. However, the company was dealt a big blow when its chief executive officer and founder Steve Jobs died. The company was formed in 1976 by Steve Jobs with an intention of making computers but later it changed its focus to include the manufacturing of consumer electronics. The company develops consumer electronic gadgets such as smartphones, computers, desktops, laptops, iPods and tablets. is one of the largest technology companies in the world. Demand Forecasting and Inventory ManagementĪpple Inc.
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