The initial manufacturing of electric fans originated from India approximately In the year 1921. This growing Industry entails the assembling and completion of various fans, such as ceiling fan, table fans, wall fans, pedestal fans, exhaust fans among many other types, with ceiling fans dominating the market demand. The challenge the Industry Is unfortunately decreasing. As the peak season of production arises there is a shortage in the component supply (, 2009).
In efforts to rectify this growing concern a short term forecast and demand pattern analysis was completed by Ravine upon the requested of the local fan manufacturers association (, 2009). Considering all known factors, unknown factors in conjunction with the testing of three forecasting methods to determine the smallest error; the regression analysis was most feasible. After a thorough evaluation of the case, it is conclusive that the regression analysis predicts a long term increase In demand; therefore an Investment to Increase production should be implemented to meet this demand.
As stated earlier, the manufacturing of electric fan started In India during the . The booming growth In the fan Industry was not until after Indian’s independence on 15 GAUGE 1947 (Shah, 2012). The popular company known as Orient Fans, is the largest manufacture and one the largest brands in India, dating back as far as the (Orient fans, 1997). Like any developing manufacturing competitors were emerging across the country from both a large and small scale units.
Popular names such as: Jay Engineering Works started in the , , Polar, Greaves, among many others (, 2009).. As the industry expounded was the major production centre during the fifties however by the nineties Hydrated was the largest ceiling fan manufacture centre In the country although Jay Engineering Work, (. COM) dates prior to Hydrated (, 2009).
There are two sectors within the fan Industry which are the organized sector and the unreasoned sector. The organized sector consists of ten to fifteen units that construct complete fans. On the other hand, the unreasoned sector consists of hundreds of units that manufacture components of fans (, 2009). Furthermore, the organized sector (the local fan manufactures) formed an association, which is spearheaded by , owner and CEO of Fans Limited, (, 2009).
The association has identified the shortages face by the unreasoned sector and is seeking clarity in regards to the demand patter and short term forecast. Therefore, the association has selected Rave to conduct analysis and report on his findings. Sectors that produce solely fan supplies is not meeting the industry demands. Therefore, the “organized” sectors are unable to assemble completed fans, which are causing a shortage in production that it prominent during peak season.