Imagine that your boss asked you to help her to prepare the company’s sales fore
ID: 387130 • Letter: I
Question
Imagine that your boss asked you to help her to prepare the company’s sales forecast for the coming two years. In the past, she felt that trends in the nation’s GDP, U.S. manufacturing, and manufacturing in Illinois were espe- cially helpful in forecasting sales. She would like you to do the following:
1. Go to the Bureau of Economic Analysis’s website (www.bea.gov) and locate the gross domestic product data. Compare the annual figure for the last four years. What do the figures indicate for the next couple of years?
2. At the Bureau of Labor Statistics’ website (www.bls.gov) under Industries, click on Industries at a Glance to find the information about the manufacturing industry. What is the employment trend in manufacturing over the last four years (percentage change from preceding period)?
3. Return to the Bureau of Labor Statistics’ home page and use the Search feature to find trends in employment for the state of Illinois. Look around the website to see what other information is available. Plot the trend in manufacturing employment in Illinois over the last four years. On your own, discuss what economic changes may have influenced that trend.
4. Based on the information you have gathered, write a brief summary of what may happen to company sales over the next couple of years.
Explanation / Answer
1) Gross domestic products are the aggregate estimation of conclusive merchandise and ventures delivered in a nation in a given year, and relatively every country's economy depends on Gross residential items. Organizations are straightforwardly influenced by GDP and may adversely influenced if there should be an occurrence of declining the GDP in a type of backing off deals. From the yearly figures for the most recent year of GPD information, It is dubious to conjecture for coming two years, as the there is no settled example of expanding or diminishing of GPD detain the most recent four years.
2. Approximately 1% expansion from in work in the assembling during the most recent four years.
3. All alone, examine what monetary changes may have affected that pattern. Illinois producers have been hit hard by the worldwide subsidence. Starting in the fall of 2008, extensive organizations moved rapidly to cut creation, decrease costs and hold development designs. Swells up the store network were prompt, leaving numerous providers with dropped arranges on the delivery dock. Regularly inside days, little and medium sized organizations were compelled to amend their strategies for success. No matter how you look at it reductions—including cutbacks—came rapidly.
4. In view of the data you have accumulated, compose a short synopsis of what may happen to organization deals throughout the following couple of years. Results from the ongoing Illinois Next Generation Manufacturing Study affirm that some best performing firms are getting ready presently to prevail in the people to come—yet numerous others remain tested to execute methodologies that will empower them to contend and support their organizations if possible. It's obvious from the investigation that organizations substantial and little comprehend the need to re-survey their business sectors, separate their items and administrations, and spotlight on the esteem they can give to clients both locally and abroad. In view of accumulated data, the offers of the organization deals will increment throughout the following couple of years