Improving Revenue Forecasting and Creating a Capacity Forecasting Model
Team members: James Bai, Efua Bainson, Aidan Brown, Conor Maley
Faculty advisors: Dr. Drew Pasteur & Dr. Matthew Moynihan (Math)
Project Description: ArtiFlex Manufacturing produces replacement automobile parts. The AMRE team was hired by ArtiFlex to create a capacity forecasting model as well as improve the existing revenue forecasting model. These models are designed to help ArtiFlex make predictions about future business opportunities and expansion needs. Using Excel, the team refined the user interface and created additional data management features in the revenue forecasting model. The capacity forecasting model was designed to have a user friendly layout and a color coded warning system for machines that are near or over capacity. To estimate how much capacity has been used, the model automatically calculates the hours needed to complete different contracts, and compares these values to the total possible hours per month. Predictions become more accurate as more data becomes available on a certain contract.