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Dominion Sales And Inventory Issue – Regression Analysis

1456 words - 6 pages

IntroductionIn today's business environments, organizations face a great deal of challenges within competitive environment within the international arena and the local markets. They face challenges even from leaner, highly dynamic companies, which in many cases caused by the ongoing acquisitions, mergers, and demands from an ever more discriminating consumer. The public organizations search for different effective way to deliver policies and increase scales of efficiency. In this fast moving environment, many companies are finding their existing project and resource scheduling systems are not sufficient to accommodate change or optimize their programs, benefits planning, and tracking. Managers struggle as they attempt to find ways to move the business forward.At Dominion, one of the important elements in becoming a leaner operation is how to balance the inventory dollar levels against the sales dollar levels. A regressive analysis study between inventory and sales dollars could provide the direction needed to find the balance and lean financial requirements of Dominion's upper management team.Description of the Regression AnalysisUniversity of Phoenix defined regression analysis as a statistical tool used to estimate the value of variable based on the value of another (University of Phoenix, 2006). The objective of regression analysis is to determine the values of factors for a function that cause the function to best fit a set of known data observations. The Dominion management team wanted to reduce their current inventory levels; however, other management member believes that major reduction in inventory levels may cause a decrease in sales and impact negatively the customer satisfactions if the products are not readily available, which in return customers will look elsewhere to make these purchases.Analyzing the data, provided clear that a relationship exists between the annual inventory dollars and the annual sales dollars. Knowing the relationship between the sales dollars and the inventory dollars will help determine the reduced level of inventory dollars while maintaining current sales levels and still maintaining customer satisfaction of having the right inventory levels. Therefore, Dominion will be able to forecast future inventory reductions or increases based on current or future sales values. By applying a regressive analysis will help the management team in coming up with the correct forecasts.The Regression Analyses DataUsing the same data gathered, two regression analyses can be conducted by reversing the dependent and independent variables. Doing so, will allow us testing two different questions. The source of the data gathered for these tests came from the annual report covering the year 2005 (Dominion annual report, 2006). The data collected was for the inter operation of Dominion business. The first regression analysis involved analyzing the relationship between inventory and sales dollars. The second regression analysis...

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