In this case study, demand planning for 2 product families of Wilkins Regulator Company is performed. Before applying forecasting techniques correlation of various economic factors like the unemployment rate, bank prime loan rates & new constructions is analyzed with the actual sales of the products. The following forecasting methods are applied for the demand forecasting of products - 1) Holt's - Winter Model, 2) Holts Model, 3) Linear Seasonality Model

• Root Mean Square Error (RMSE) is used to compare the forecast results of different models. Optimum values of coefficients of equations are calculated by minimising RMSE

• The solution for the problem of which technique to use for demand forecasting of a new product by the company is mentioned

• Suggestion on when to use price promotion & how to determine its effect on the sales of the product is also mentioned

Project Report