Forecasting in a travel agency - Flaws and improvements
$8.95
9 word format
document in English
business strategy
research papers
published 28/04/2008
review : Completed
level : Expert
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Summary
This project investigates the importance of forecasting in a travel agency. Operating in an industry, which is heavily subject to seasonality and trend features, travel agency should be able to identify appropriate forecasting techniques to improve its current practices and to add value to its business conduct. In section 1, I briefly describe the travel agency by identifying its core services, operational markets, core competencies, core processes and stakeholders. In section 2, I explain the forecasting needs of the agency and its current practices in order to be able to criticize the effectiveness of these practices according to Operations Management theory, in section 3. In section 4, I identify areas for improvements and suggest possible actions. Based on the suggested improvements, a specific implementation plan including timetable and cost estimation is created, in section 5. In section 6, the paper highlights the benefits of implementing the proposed improvements, while References complete this project.
Table of Contents
- Abstract.
- The travel agency.
- The core processes of the travel agency consist of.
- Forecasting Needs and Current Practices.
- Seasonality feature.
- Trend feature.
- Business cyclicality feature.
- Demand for Hotel Reservations.
- Demand for Holiday Packages locally and abroad.
- Current Forecasting Practices.
- Historical Data - Statistical Methods.
- Outbound Airline tickets.
- Styles and Fashions.
- Implementation Plan.
- Benefits.
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