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Title Name Professor Institution Course Date Benefits of Forecasting in Airline Industry Introduction Forecasting is an important tool in business planning and can prepare the management to cope with uncertain future trends. Designing a business plan based on the future predictions can help in developing effective strategies to ensure continued business operation. Business managers and in this case airline industry can use forecasting to establish managerial methods aimed at addressing future market and economic trends. Aspects to consider in running an airline business ranges from supply chain forecasts as well as predictable future seasonal changes and effects on revenue generation. Seasonal variations greatly affect airline industries and determine the amount of revenue to be collected in a specific season. Forecasters play a critical role in foreseeing those factors may negatively or positively affect efficiency of an airline transport system. Forecasting in Airline Business Other than that ISO only serves as a company certification and not a product certification. It also restricts certain business operations as it limits a firm to stipulated standards within its ISO certificate (Cochran 2015). References Bao Y. Xiong T. & Hu Z. (2012). Forecasting air passenger traffic by support vectormachines with ensemble empirical mode decomposition and slope-based method.Discrete Dynamics in Nature and Society 2012. Cianfrani C. A. & West J. E. (2015). ISO 9001:2015 explained. Cochran C. (2015). ISO 9001:2015 in plain English. Gene Rowe ; George Wright. (1999) The Delphi technique as a forecasting tool: issues andanalysis. In: International Journal of Forecasting. Janić M. (2011). Greening airports: Advanced technology and operations. New York: SpringerVerlag. Lawrence K. D. & Klimberg R. K. (2011). Advances in business and management forecasting.Bingley: Emerald Shah J. (2009). Supply chain management: Text and cases. Chennai: Pearson Education. [...]

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1. In the passenger airline industry, forecasting customer demand and ensuring there is enough capacity in terms of flight crews can be a competitive advantage. Find an article through the Hunt Library that discusses the importance of seasonal forecasting in regards to the passenger airline industry. How does limiting capacity in terms of the number of available flights to reduce costs and improve profits affect the supply and demand market for the passenger looking for business travel tickets? 2. Critique the importance of ISO 9001: 2015 (ISO 9001: 2008) (Links to an external site.)Links to an external site. certification for a manufacturing company that wants to compete in a global market. What are some of the quality requirements that must be covered in the quality management system?

Subject Area: Project Management

Document Type: Research Paper

This project has already been completed by one of the Studybay experts. The client rated this project:

Project's rating is 5/5

Price $25

Words 550

Pages 2

Completed in 4 days

Expert Huddah

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