, TRL4861 Assignment 2 (COMPLETE ANSWERS)
Semester 2025 - DUE September 2025; 100%
TRUSTED Complete, trusted solutions and
explanations.
Forecasting Demand for Building Materials for a Road
Freight Business in Rural KwaZulu-Natal
Transportation of building materials into rural areas poses special
challenges: fluctuating construction activity, seasonal weather effects,
road infrastructure, cost of transport, and variable purchasing power. For
a freight company to plan capacity, fleet size, inventory of raw materials
(if relevant), routing, investment etc., accurate forecasts of demand are
vital. Two broad families of forecasting methods are often distinguished:
demand forecasting methods (sometimes qualitative or judgmental) and
quantitative forecasting methods. Understanding their differences,
interplay, and appropriate selection is essential.
1. Fundamental Differences between Demand Forecasting Methods
and Quantitative Forecasting Methods
Demand forecasting methods generally include qualitative,
judgmental, or demand‐side approaches: they draw upon managerial
experience, expert opinion, market research, surveys, trend judgments,
scenario planning, Delphi technique, etc. These methods are often used
when historical data are insufficient, when conditions are changing, or
when new markets or technologies are involved. They tend to
incorporate subjective inputs (beliefs, expectations) and often account
for qualitative factors such as consumer behaviour, governmental policy,
economic development, rural housing programs, etc.
Semester 2025 - DUE September 2025; 100%
TRUSTED Complete, trusted solutions and
explanations.
Forecasting Demand for Building Materials for a Road
Freight Business in Rural KwaZulu-Natal
Transportation of building materials into rural areas poses special
challenges: fluctuating construction activity, seasonal weather effects,
road infrastructure, cost of transport, and variable purchasing power. For
a freight company to plan capacity, fleet size, inventory of raw materials
(if relevant), routing, investment etc., accurate forecasts of demand are
vital. Two broad families of forecasting methods are often distinguished:
demand forecasting methods (sometimes qualitative or judgmental) and
quantitative forecasting methods. Understanding their differences,
interplay, and appropriate selection is essential.
1. Fundamental Differences between Demand Forecasting Methods
and Quantitative Forecasting Methods
Demand forecasting methods generally include qualitative,
judgmental, or demand‐side approaches: they draw upon managerial
experience, expert opinion, market research, surveys, trend judgments,
scenario planning, Delphi technique, etc. These methods are often used
when historical data are insufficient, when conditions are changing, or
when new markets or technologies are involved. They tend to
incorporate subjective inputs (beliefs, expectations) and often account
for qualitative factors such as consumer behaviour, governmental policy,
economic development, rural housing programs, etc.
