Brown Limited buys small ornaments and resells them. The production manager got the following data after inventory control check. (a) Use a trend projection to estimate the relationship between time and sales (state the equation). (b) Calculate forecasts for the first four months of the next year. 1 2 3 4 5 6 Month Jan Feb Mar Apr May Jun Sales 51 55 54 57 50 68 (Hint: Month-x, Sale = y) 7 Jul Aug Sep 8 9 10 11 12 Oct Nov Dec 66 59 67 69 75 77
Q: What is the takt time? Will ITS be able to keep up with this demand? a. 10.0 minutes; Yes b. 11.3…
A: Given that for a process, there are multiple steps, each step would consume a specific time per…
Q: An operations manager is deciding on the level of automation for a new process. The fixed cost for…
A: Ans) Formula: Profit = Units*(Sales Price - Variable Cost) - Fixed Cost At Breakeven, Profit = 0…
Q: hich one of the following is an advantage of lean systems? Question content area bottom Part…
A: Lean system implementing the lean principles in each areas of business including operations,…
Q: What is strategic change?
A: The movement of a business from its current condition toward a targeted future state in order to…
Q: A toy manufacturer makes its own wind-up motors, which are then put into different types of toys.…
A: Given data: Annual demand (D) = 62500 unitsCarrying cost (Ch) = $11.5 /unit per year. Set up cost…
Q: a) The expected (estimated) time for act weeks. (Round yo sponse b) The variance for activity C is…
A: NOTE: We are allowed to do the first three sub-parts only. The critical path is the…
Q: A craftsman named William Barnes builds two kinds of birdhouses, one for wrens and a second for…
A: Graphical Method: In order to find the optimal answer to a mathematical model, a procedure known as…
Q: You have a used CD store. At an estate sale, you can purchase 260 compact discs for $400. You…
A: Net Benefit means subtracting the all sost of a project from total revenue. Formula for calculating…
Q: 4. Minimize subject to c = x + 2y x + 3y > 30 2x + y ≥ 30
A: A graphical method of solving linear programs is to graph the constraints in the plane and solve…
Q: Given these observed times (in minutes) for four elements of a job, determine the observed time (OT)…
A: The amount of time required to execute a specific job is known as observed time. The amount of time…
Q: Several companies and firms fail diee to not having a functional business model that has a profit…
A: The business model is formed by the big business firms to show their purpose, their goals, and their…
Q: A bank has $684,000 in assets to allocate among investments in bonds, home mortgages, car loans, and…
A: Decision Variables: Suppose-x1 be the amount invested in bondsx2 be the amount invested In…
Q: Which of the following best characterizes JIT systems? Part 2 A. Annual review of operation…
A: A management technique that reduces inventory and boosts efficiency is the just-in-time (JIT)…
Q: certain type of computer costs P80,000 per unit, and the annual holding cost is 25% of the per-unit…
A: Given : Annual demand (D) = 10000 Ordering cost (S) = 12000 Holding cost (H) = 80000*25% = 20000
Q: Given the following original forecast and actual data: Month Actual Jan Feb Mar Apr May Jun Jul 600…
A: Ft = (Ft-1) + a {(At-1) - (Ft-1)} Ft = Forcast for period t Ft-1 = Forcast for prior period…
Q: Define green supply chain management,its importance and how an organisation engages with it.
A: Green supply chain management integrates the sustainable environmental processes into traditional…
Q: a) Kathleen wants you to graph the eight points (x₁, y₁),i=1,2,..., 8. She has been concerned…
A: The graphical presentation is one of the most effective and common tools used in data analysis…
Q: Business transactions taking place within geographical boundaries of a nation is known as
A: Internal commerce is the buying and selling of commodities and services within the borders of a…
Q: Powered by Koffee (PBK) is a new campus coffee store. PBK uses 50 bags of whole bean coffee every…
A: Economic order quantity is a statistical tool which helps to to find the most optimal ordering…
Q: Mark Gershon, owner of a musical instrument distributorship, thinks that demand for guitars may be…
A: From the above given information, let, Y =Estimated value x =number of television appearences b0…
Q: You have just started to work in the purchasing office of a major pharmaceutical firm. The…
A: For organizations, buyers, including purchasing agents, purchase goods and services. Buyers and…
Q: 4.8 We Rescue, Inc., a firm providing nationwide ambulance services, intends to expand its service…
A:
Q: How does a systems selection report function and what is it?
A: A system selection report is a graphical visualization that helps the organization choose the best…
Q: imber of bluebird houses to be produced a) Objective function: Z=x+Y
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Determine: a) The cycle time in minutes; b) the minimum number of workstations for this contract; c)…
A: Project schedule helps in calculating different values all related to the production cycle like the…
Q: Can you please solve the linear equation graphically with clear steps
A: Linear programming is a mathematical technique that is also used in operations management…
Q: 8.11 The average demand for January has been 80, and the average annual demand has been 1800.…
A: Seasonal Index refer to the percentage of each season and mean of that value is Seasonal index. It…
Q: With the aid of a well-labelled diagram, explain the transformation process in a hotel .
A: The hotel industry is one of the most lucrative ones. However, in order to stay ahead of their…
Q: 5) Persons arrive at a copying machine according to a Poisson process with rate one per minute. The…
A: Arrival rate (λ) = 1 per minute = 60×1 = 60 per hour Service time = 3 seconds The service rate…
Q: What are The four main stages in the topic coherence framework pipeline depicted?
A: Ans) Coherence framework pipeline is very important. It becomes a essential part of the process.…
Q: a. What is the optimal number of housings for HAL to produce in each production run? b. Find the…
A: Given: Annual demand D 720 Annual production P 1800 Setup cost S 700 Annual interest rate…
Q: How are Cp and Cpk calculated and process capabilities explained?
A: Process capability is defined as the spread of a process. Let us consider, σ =standard deviation of…
Q: A farmer has 300 acres of available land and $60,000 to spend. He wants to plant the combination of…
A: Given LP- Max Profit (W) = 180x1 + 60x2 + 90x3S.t. -400x1 + 160x2 + 280x3≤57000 (Cost…
Q: a) The expected (estimated) time for activity C is b) The variance for activity C is c) Based on the…
A: As per Bartleby guidelines, we can only solve the first three subparts of one question at a…
Q: explain the project management and planning software importance in the control and prevention of…
A: Project management helps in managing every project in the company. it is like a single system that…
Q: What is the break-even point for option B?
A: Break-even point = fixed cost /(selling price-variable cost)
Q: When comparing Alternative A to Alternative B, B is more attractive than A above units.
A: Breakeven point = fixed cost/(selling price-variable cost)
Q: What is the most important difference between the agile project management methodology and the…
A: Project management is the process of planning and organizing the resources of the company. These are…
Q: A plant is being built to manufacture two product families A and B. The facility must produce…
A: A. DA=DB=100,000/yearC1= $125,000C2= $65,000C3= $180,000 Let xij= the number of units of technology…
Q: Based on your understanding of the case study and further readings, do you think Tiger Brands made…
A: SCM is a strategic approach to integrating supply and demand in the market. It involves several…
Q: F 16. A company must produce 100,000 units of a new product over the course of a year. Starting…
A: Given data: Annual Demand (D) = 100,000 units Holding Cost (H) = $5 per unit per year Setup Cost…
Q: The ABC Company is making a production plan for the next year, given the sales forecast for the next…
A: Given- Total employees = 12Inventory carrying cost = $2 per unitHiring costs = $1,600 per…
Q: Have top-down design ideas ever been used in your work? If so, could you please state the reason.…
A: The top down approach in project management would imply that the project goals are broken down into…
Q: ssuming fixed costs for Fat-Free brownies are $350, how many of this new product will they have to…
A: Given:
Q: A catalog order-filling process can be described as follows:12 Telephone orders are taken over a…
A: Lean principles are described as the process through which transformation can be brought into the…
Q: How does one establish a work breakdown structure? What is it? What equipment and materials are…
A: A work breakdown structure is a hierarchical representation of the tasks to be performed in the…
Q: Jse the Big M method, work through the simplex method step by step to demonstrate that the problem…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Complete the following perishable product quotation/call sheet. Indicate the preferred supplier: a.…
A: Find the Given details below: Given details: Amount Supplier Item Needed On Hand Order 1 2 3…
Q: What is the impact on availability as the mean time between failures (MTTR) approaches zero? Is it…
A: Mean time between failures (MTBF) is the expected time of the arrival of a failure. If,' Failure…
Q: how to draw the graphical solution
A: Linear programming is a mathematical technique that is also used in operations management…
Step by step
Solved in 2 steps with 3 images
- The Nuts’n’Bolts hardware store stocks some high-value items and a large number of rel- atively low-value components. Inventory is reviewed weekly, and orders are placed with suppliers when inventory levels indicate that current levels are “too low.” Most suppliers deliver the low-value items within two weeks; some of the high-value items may take four weeks for delivery. How would you develop a forecasting system to predict the sales of such items at the individual (SKU ? stock-keeping unit) level? How would you use such fore- casts to plan future purchases?Use PHIVE to go through the necessary steps. For purposes of the discussion, assume that that any historical data you might need can be made available.Not all the items in your office supply store are evenly distributed as far as demand is concerned, so you decide to forecast demand to help plan your stock. Past data for legal-sized yellow tablets for the month of August are Week 1 250 Week 2 350 Week 3 550 Week 4 650 a. Using a three-week moving average, what would you forecast the next week to be? b. Using exponential smoothing with α = 0.30, if the exponential forecast for week 3 was estimated as the average of the first two weeks [(250 + 350)/2 = 300], what would you forecast week 5 to be?Given the following history, use a three-quarter moving average to forecast the demandfor the third quarter of this year. Note that the 1st quarter is Jan, Feb, and Mar; 2ndquarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DECLast year 120 140 145 195 205 220 165 155 145 220 245 265This year 140 145 200 210 240 255
- Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13,15 (listed from oldest to most recent). Forecast sales for the next day using a three-day weighted moving average where the weights are 3, 1, and 1 (the highest weight is for the most recent number). Sample paper answers: 1) None of the provided options.2) 13.03) 12.84) 70.014.0Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note that the 1st quarter is Jan, Feb, and Mar; 2nd quarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, Dec. (Round final answer to a whole number.) JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Last year 165 185 200 230 240 265 210 200 195 265 290 315 This year 175 200 165 260 260 200 Forecast for the third quarterTable 5.1: The demand forecast developed for the year ended 31 December 2022. Month Production days Demand forecast Jan 16 150 Feb 16 150 Mar 23 250 Apr 21 250 May 22 400 Jun 22 500 Jul 21 600 Aug 20 750 Sep 20 450 Oct 20 250 Nov 16 150 Dec 16 150 1. Compute and tabulate the daily demand for each month in the table below (round off to the nearest whole number). 2. Assuming that MPQ Limited had adopted a level strategy for the year ended 31 December 2022, compute the average daily demand for the year (round off to the nearest whole number).
- The following table shows the actual demand observed over the last 11 years: Year 1 2 3 4 5 6 7 8 9 10 11 Demand 6 8 4 9 13 8 11 14 9 13 7 Part 2 Using exponential smoothing with α = 0.40 and a forecast for year 1 of 5.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place). Year 1 2 3 4 5 6 7 8 9 10 11 12 Forecast 5.0 5.45.4 6.46.4 5.55.5 6.96.9 9.39.3 8.88.8 9.79.7 11.411.4 10.410.4 11.511.5 9.79.7 Part 3 Provide the forecast from periods 2 through 12 using the naive approach (enter your responses as whole numbers). Year 2 3 4 5 6 7 8 9 10 11 12 Forecast enter your response here enter your response here enter your response here enter your…*** Can you please demonstrate how to do parts d, e, f? Given: Year Demand 1 7 2 9 3 5 4 9 5 Predict the value for Year 5: 2 year moving average What is MSE for 2 year moving average? 2 year moving average using 0.6 (weight for the oldest period) and 0.4(weight for most recent period Exponential smoothing, =0.2 and forecast for Year 1 = 5 Linear trend Which forecast method has the least amount of error using MAD? What is the coefficient?Source Available at: http://panmore.com/walmart-inventory-management [Accessed 18 July 2022] Reading the above, it becomes clear that good inventory management and forecasting can deliver supply chain success for and could ultimately lead to profitability and growth. In a report you are required to evaluate the importance of forecasting for Walmart Your report, must include but is limited to the following: • The importance of forecasting to Walmart. • Examine if a combination of both qualitative and quantitative forecasting may be best suited. • Argue the relevance of cloud-based forecasting for Walmart. NB: • The marks allocated next to each concept in the rubric below should serve only as a guide to the depth your discussion should cover. Your answer should be a minimum of 1 200 to a maximum of 1 500 words. Markers are to stop marking after the threshold of 1 500 words (two-and-a-half to three pages) has been reached. Please indicate the word count at the end of your answer. • You…
- Given the following demand data, Period Demand 1 47 2 44 3 47 4 44 5 48 a. Compute a weighted average forecast using a weight of 0.4 for the most recent period, 0.3 for the next most recent, 0.2 for the next, and 0.1 for the next. (Round all your answers to two decimal points.) b. If the actual demand for period 6 is 48, forecast demand for period 7 using the same weights as in part a. Forecast Period 7 ______Use exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, β= 0.3, and let the initial trend value be 12 and the initial forecast be 200. Period Actual Demand 1 200 2 212 3 214 4 222 5 236 6 221 7 240 8 244 9 250 10 266Matrix uses simple exponential smoothing with S.F = 0.6 to forecast demand. The forecast for the week of Nov 1 was 350 units, whereas the actual demand turned out to be 400 units. Forecast the demand for the week of Nov 8 to week Nov 22 Week Actual Demand Forecast Nov 01 350 400 Nov 08 460 430 Nov 15 501 448 Nov 22 495 479.8 Element of Competency Determine the quantity of raw materials and other products order.