Forecasting in a travel agency - Flaws and improvements

Pages :

9 pages

Format :

.doc

Published date :

04/28/2008

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Summary :

 
 

Table of Contents Forecasting in a travel agency - Flaws and improvements Table of Contents

 
  1. Abstract
  2. The travel agency
  3. The core processes of the travel agency consist of
  4. Forecasting needs and current practices
  5. Seasonality feature
  6. Trend feature
  7. Business cyclicality feature
  8. Demand for hotel reservations
  9. Demand for holiday packages locally and abroad
  10. Current forecasting practices
  11. Historical data: Statistical methods
  12. Outbound airline tickets
  13. Styles and fashions
  14. Implementation plan
  15. Benefits
  16. References

Abstract

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.

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