a) Compute MAD and MAPE for management's technique. b) Do management's results outperform (i.e., have smaller MAD and MAPE than) a naive forecast? c) Which forecast do you recommend, based on lower forecast error?
Q: 6-27 Ross White’s machine shop uses 2,500 brackets during the course of a year, and this usage is re...
A: Given- Annual Demand (D) = 2500 bracketsHolding cost (H) = $1.50 per bracket per yearOrdering cost...
Q: FAMILY BUSINESS DYNAMICS Thomas Sages looked stern and preoccupied upon his return from the funeral...
A: Thomas Sages looked harsh and distracted upon his return from the burial service of his companion Da...
Q: Outline and explain the steps DELL would have considered when making such a Strategic Technology Inv...
A: Dell has alwasy been an orgnisation, that was set apart by its vision from the competitors. Their ma...
Q: Task 3: A packaging machine experienced downtime due to the following instances over the last month:...
A: Sort the data in descending order from count viewpoint.
Q: Air pollution control activity us going on in the suvera foods which has an expected activity time o...
A: The expected time is the time at which the whole project is going to complete successfully.
Q: Read. Choose T (True) or F (False). Correct the false statements. How do you do? I'm Mark Applegate....
A: A business plan can be stated as a formal document containing the objectives of the business, the ap...
Q: The manager of Jokitian Iron Works Company received an order to produce a number of pipes which requ...
A:
Q: 1. A project was planned using PERT with three-time estimates. The expected completion time of the p...
A: Given- Expected completion time (μ)= 40 weeksDesired completion time (x) = 46 weeks or lessVarianc...
Q: a) Use a 2-month moving average on all the data and plot the averages and the prices. b) Use a 3-mon...
A: The mean absolute deviation(MAD) shows the errors in the forecasted values from the actual values. T...
Q: cted by the differences in product offerings among different countries?
A: Exporting nations' lifestyles and cultures must be taken into consideration by corporations. This da...
Q: Explain the two common inventory estimation methods, mentioning key similarities and differences bet...
A: The main common inventory estimation methods are:- First-In, First-Out (FIFO) Last-In, First-Out (...
Q: Describe why ownership costs, operating cost, and acquisition costs are important when evaluating a ...
A: The combination of the asset's purchase price and running expenses is the total cost of ownership (T...
Q: A type of histogram in which the categories are plotted in the descending rank order of the magnitud...
A: Project the board charts are visual portrayals of information that transform troublesome venture the...
Q: Glaudious is 45 years old university internship coordinator. He is handling 80 interns and he would...
A: Task analysis is a way to break down a task or a process into its subcomponents, subparts, subskills...
Q: Describe the relationship between symptoms and problems. Also, describe and explain the three genera...
A: Here, first I would describe the relationship between symptoms and problems, next, I would use examp...
Q: A local travel agent is planning a charter trip to a major sea resort. The eight days/seven nights p...
A: Given, Tour Plan Price (Rs) Hotel costs (Rs) Meals and Other expenses (Rs) Deluxe 10...
Q: Next question Jackson (Mississippi). The table below gives the factors that Ken thinks are important...
A: Given-
Q: Discuss the similarities and differences between PDCA and PDSA methods for continuous improvement. W...
A: Continuous improvement is a process or effort that is ongoing to improve the services, products, sys...
Q: The basic principle behind the ________ is the capability to separate the vital few categories from ...
A: Scatter diagram is a graphical representation of identifying relationship between the variables that...
Q: Q3: Answer the following: a. Routine Maintenance involve three activities, name them. b. List types ...
A: The technical meaning of maintenance involves functional checks, servicing, repairing, or replacing ...
Q: DAYS IMMEDIATE АCTIVITY a PREDECESSORS 8 10 12 B 6. 9 3 4 D 10 20 30 E 6. 8 C F 9. 10 B, D, E G 6. 1...
A: Given-
Q: “Your next load of groceries may be moved by a modern-day bionic man or woman writes,” The Wall Stre...
A: Workplace injuries are described as the illness and the injuries that take place when an employee ca...
Q: a. Sequence the jobs using (1) First come, first served, (2) Shortest processing time, (3) Earliest ...
A:
Q: You can assume that you are hired by a local small business company as an IT consultant. You are giv...
A: OUTLINE TO SMALL BUSINESS: Another commencement must continue to zero in on its utilitarian regions ...
Q: Amy Lloyd is interested in leasing a new Hónda and has contacted three automobile dealers for pricin...
A: Given-
Q: If you go to Korea, you'll see that eating kimchi is part of their national a. identity b. menu c. m...
A: Note - Hi! Thank you for the question As per the honour code, We’ll answer the first question since ...
Q: Construct the appropriate control chart with 3o limits. Plot the data and determine whether the proc...
A: In this, case, the leakage is a defect. For defective items, a C-bar control chart is used.
Q: Why should TESCO management focus on long-run performance? What are shortcomings of short-run perfor...
A: A Small Introduction about Performance Management Performance management is a framework intended...
Q: pls show detailed computation need help
A: Safety stock is defined as an extra quantity of a product . It is stored in the warehouse mainly to...
Q: What is kaizen, and wha t is a kaizen event?
A: Quality Improvement Tool - is an organized & formal procedure to analyze training performance in...
Q: Let us apply what you have learned in the Below is a picture showing 10 hazards, identify at least 5...
A: According to OSHA, the hazards are categorized into 5 different categories. 1. Safety Hazard 2. Chem...
Q: CWD Manufacturing makes three components for sale to refrigeration companies. The components are pro...
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and...
Q: A manufacturing firm is looking to invest in new equipment. Options A and B have a known initial cos...
A: Uniform annual Savings implies the pinnacle interest or energy savings that happen in a given year (...
Q: 5. What are the components of the following systems? Draw and explain the configuration of each. (a)...
A: In case there is only one barber at the barber search, then there will be a single server which is r...
Q: A company has estimated its economic order quantity for Part A at 3,000 units for the coming year. I...
A: Solution is as follows:
Q: nagement cohtributes to the prese
A: Strategic management concerns include the significance of establishing a competitive edge over rival...
Q: Legu Bloxs – specialized in the manufacturing of high-rise CHB (concrete hollow blocks). The company...
A:
Q: In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1,200 radials each year...
A: A seasonal index is how much amendment is required in a period series to adapt to the period of the ...
Q: A company begins a review of ordering policies for its continuous review system by checking the curr...
A: SKU means "stock keeping unit" and - as the name proposes - it is a number that retailers allot to i...
Q: Workstation Processing Time Requirements, Per Unit of Product Profit and Weekly Demand, by Product P...
A: An Effective Process Time (EPT) approach is proposed for the structure of total models to address mu...
Q: Santura furniture makes study tables. The weekly euro value of its output, including finished goods ...
A: Inputs= € 17,650 Outputs=€ 15,290
Q: 2.11. Only the optimistic time is known i.e. 4 days, find the pessimistic time and the most like tim...
A:
Q: What key obstacles can you identify in the internationalization (achievement of “world class” univer...
A: Internationalization in higher education has advanced from a minor topic to a major component of the...
Q: Can Customer Relationship Management systems play a role in ecommerce?
A: Organizations use different tactical approaches that make them to attract customers towards the orga...
Q: Max 3x, + lx, + 5x3 + 3x4 s.t. 3x, + lx, + 2x3 2x, + lx, + 3x, + 1x 15 2x2 = 30 I| + 3x, <25 X1, X2,...
A: Objective Function: Max Z = 3x1 + 1x2 + 5x3 + 3x4 Constraints: Subject to 3x1 + 1x2 ...
Q: which method is better and by how much
A: Process selection strategy mainly depends on the net profit turnover which identify based on the con...
Q: What would be the total cost of Software D over time? $1?] Not Satisfied $5,000 Software C 20% • $20...
A: Given- Decision tree-
Q: Explain the relationship between priority versus capacity that must exist within the production plan...
A: Capacity can be understood as how much a firm can handle at a given point of time. It is quite sign...
Q: CWD Oil produces two grades of gasoline: regular and premium. The profit contributions are $0.30 per...
A: a., b., c., d. Max Z = 0.3 R + 0.5 P subject to 0.3R + 0.6P <= 18000 R+P <= 50000 ...
Q: The table gives the total cost schedule for oil changes at the local Jiffy Lube What is the averag...
A: Given-
answer a,b, and c
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 4 images
- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
- Interpret the MAD of the most accurate among the forecasting models below. A. Naïve approach;B. 5-month SMA model;C. WMA model with weights 0.1, 0.3, and 0.6; orD. ES model with α = 0.5 and a forecast of 3,500 liters in the first month.IN THE MID-1960S, WALT DISNEY’S DREAM was to build a family resort destination like no other. The dream became a reality when Walt Disney World Resort opened in 1971, featuring Magic Kingdom as the centerpiece. Today, millions of guests visit the Walt Disney World Resort each year to experience the world-class theme parks and hotels. Analytics feature prominently in the operations of Walt Disney World. Explain using illustrations how forecasting features in this company’s operations. Explain at least four methods of forecasting that can be used for Disney’s purpose.IN THE MID-1960S, WALT DISNEY’S DREAM was to build a family resort destination like no other. The dream became a reality when Walt Disney World Resort opened in 1971, featuring Magic Kingdom as the centerpiece. Today, millions of guests visit the Walt Disney World Resort each year to experience the world-class theme parks and hotels. Analytics feature prominently in the operations of Walt Disney World. i)Explain using illustrations how forecasting features in this company’s operations. ii)Explain at least four methods of forecasting that can be used for Disney’s purpose. Use made up worked examples.
- Sales of quilt covers at Bud Banis' department store in Carbondale over the past year are shown below. Management prepared a forecast using a combination of exponential smoothing and its collective judgment for the 4 months (March, April, May, and June): a) Compute MAD and MAPE for management's technique.b) Do management's results outperform (i.e., have smaller MAD and MAPE than) a naive forecast?c) Which forecast do you recommend, based on lower forecast error?10. What is the approximate forecast for May using a four-month moving average? a.38 b.43 c.44 d. 47IN THE MID-1960S, WALT DISNEY’S DREAM was to build a family resort destination like no other. Thedream became a reality when Walt Disney World Resort opened in 1971, featuring Magic Kingdom asthe centerpiece. Today, millions of guests visit the Walt Disney World Resort each year to experience theworld-class theme parks and hotels. Analytics feature prominently in the operations of Walt DisneyWorld.Explain using illustrations how forecasting features in this company’s operations.Explain at least four methods of forecasting that can be used for Disney’s purpose.
- IN THE MID-1960S, WALT DISNEY’S DREAM was to build a family resort destination like no other. Thedream became a reality when Walt Disney World Resort opened in 1971, featuring Magic Kingdom asthe centerpiece. Today, millions of guests visit the Walt Disney World Resort each year to experience theworld-class theme parks and hotels. Analytics feature prominently in the operations of Walt DisneyWorld.Explain using examples how forecasting features in this company’s operations.Explain at least four methods of forecasting that can be used for Disney’s purpose.Th e manager of a small health clinic would like to useexponential smoothing to forecast demand for laboratory servicesin the facility. However, she is not sure whether to use a high orlow value of α . To make her decision, she would like to comparethe forecast accuracy of a high and low α on historical data. Shehas decided to use an α = 0.7 for the high value and α = 0.1 forthe low value. Given the following historical data, which do youthink would be better to use? Week Demand (lab requirements)1 3302 3503 3204 3705 3686 34312. Under the bottom-up approach, a central person or persons take the responsibility for forecasting and preparing an overall forecast. Select one: True False