Least Square Method Technique for Predicting the Acquisition of Raw Materials and Sales of Crisp for Small and Medium Enterprises
Abd. Rasid Mamat1, Mohamad Afendee Mohamed2, Muhammad Hafizzuddin Nasruddin3, Mohd Khalid Awang4, Fatma Susilawati Mohamed5
1Abd. Rasid Mamat, Faculty of Informatics and Computing, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
2Mohamad Afendee Mohamed, Faculty of Informatics and Computing, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
3Muhammad Hafizzuddin Nasruddin, Faculty of Informatics and Computing, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
4Mohd Khalid Awang, Faculty of Informatics and Computing, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
5Fatma Susilawati Mohamed, Faculty of Informatics and Computing, Universiti Sultan Zainal Abidin, Terengganu, Malaysia.
Manuscript received on 16 February 2019 | Revised Manuscript received on 07 March 2019 | Manuscript Published on 08 June 2019 | PP: 612-616 | Volume-7 Issue-5S4, February 2019 | Retrieval Number: E11280275S419/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: Small and Medium Enterprises (SME) are companies that usually run in rural areas and is part of the initiatives by the government to increase the economy of the rural population. A case study was conducted on a SME company, Teguh Enterprise Sdn Bhd which sells various types of chips based on local products such as sweet potatoes, bananas, breadfruits and others. Acquisition of raw materials for product produce as well as revenue from monthly sales of products are important information for a company as means to sustain its operations. However, that information is usually unstable and difficult to predict even though the forecast of the products needs to be done to obtain optimum revenue. This is because there is a demand for raw materials increase and sometimes decreases. Based on the products’ forecast, SMEs will be able to produce and manage their products more efficiently. This study uses the Least Square Method (LSM) as a measure to forecast the productions of each products and the acquisition of raw materials based on previous data. Based on the result, we can concluded the prediction analysis using LSM can help this company be predict the raw materials and of chips for the future period.
Keywords: BBQ Potato, Least Square Method, Sales Prediction, Salted Potato.
Scope of the Article: Small Batch Manufacturing