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An evaluation of the effectiveness of the techniques used by the business (Cadbury) to plan production and product development
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A1: An evaluation of the effectiveness of the techniques used by the business to plan production and product development Cadbury plan their production process by using a time series method as this helps Cadbury to accurately produce the needed amount of chocolate at the correct period of time. A time series shows historical data that can be used and analysed to predict future trends. Christmas and Easter are peak selling times for all chocolate manufactures including Cadbury, this is obviously because chocolate products make good gifts for these occasions. The disadvantages of this type of forecast are: * Cadbury need to have a lot of past data in order for the time series method to be used accurately to predict sales figures. * If the external environment doesn't stay stable then there will be problems with the forecast for example if the prices of the raw materials used to produce Cadbury products increases then...
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