The Computer Applied to Optimization of Price Considerations and Cost Forecasting in the Food Processing Industry.
AIR FORCE ACADEMY COLO
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The management of a large-scale feeding facility involves many decisions which depend on the ability to forecast future food prices. Food ordering policies, contract period lengths, and future budget allocations are just a few of the decisions which are based on some knowledge of these food price trends. The ability to identify these future price trends can be an important asset to the facility manager. This study has developed a B5500 FORTRAN computer program which enhances the managers planning in three ways It accurately forecasts food costs it uses these forecasts to determine the costs of future menus and it uses a randomly generated menu schedule to provide an estimate of future operating expenses. Author
- Economics and Cost Analysis
- Food, Food Service and Nutrition