Track: Undergraduate Student Paper Competition
Abstract
This research discusses forecasting disputes that many companies face while setting a new strategic plan. Jeddah Paints Factory is one of the manufacturing companies in Saudi Arabia in which its top management decided to change and improve their strategic plan to be aligned with the new Saudi vision of 2030. Data of one product line (water-based paints) of three sizes were collected using four different forecasting methodologies. Simple Moving Average, Simple Exponential Smoothing, and Trend Projection and multiplicative method were used to predict the production in the next 5 years. The accuracy was measured by Mean Absolute Deviation where the 5-Moving average method is found as the best and more accurate than exponential smoothing, Trend projection or multiplicative method.