Critique the demand management and forecasting as an effective tool to avoid stock outs
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Critique the demand management and
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- Demand forecasting and planning is not a part of inventory management function. Select one : 1.True 2.Fales1. Determine the inventory order quantity for Diamant’s distributor.2. Compare the optimal order quantity with a seasonally adjusted forecast for demand. Doesthe order quantity seem adequate to meet the seasonal demand pattern for Diamonds(i.e., is it likely that shortages or excessive inventories will occur)?South African rapper, Cassper Nyovest, has launched a business venture manufacturing his very own clothing and shoes. Cassper wishes to ensure the highest levels of customer satisfaction. Argue the importance of accurate demand forecasting as a principle of an inventory management system for Cassper. Note: Provide at least two application points.
- How does the Wilson approach adapt to seasonal variations in demand and inventory management?The EastCoasters Bicycle Shop stocks bikes; helmets;clothing; a variety of bike parts including chains, gears,tires, wheels; and biking accessories. The shop is in astorefront location on a busy street and it has very limitedstorage space for inventory. It often runs out of items and isunable to serve customers. To help manage its inventorythe shop would like to classify the stock using the ABCsystem. Following is a list of items the shop stocks and theannual demand and unit value for each:Classify the inventory items according to the ABC ap-proach using dollar value of annual demand.Over the past 12 months, Super Toy Mart has experienced a demand variance of 10,250 units and has produced an order variance of 12,050 units. Part 2 a) The bullwhip measure for Super Toy Mart is ______ (round your response to two decimal places). Part 3 b) If Super Toy Mart had made a perfect forecast of demand over the past 12 months and had decided to order 1/12 of that annual demand each month, the bullwhip measure would have been ______ (round your response to the nearest whole number.)
- 1. With examples and necessary figures, define the Key Inventory Terms ? 2. Suppose, you are newly appointed as a Sales Manager in Unilever Company and after joining your first assignment is to do the sales forecast for the next quarter. Therefore, explain what would be your approach to do a good sales forecast for the next quarter.Explain Production and Inventory Strategies?How do the inventory systems compare
- Demand for stereo headphones and music players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for this year was as follows: MONTH DEMAND (UNITS) January 4,150 February 4,250 March 3,950 April 4,350 May 4,950 June 4,650 July 5,250 August 4,850 September 5,350 October 5,650 November 6,250 December 5,950 a. Using linear regression analysis, what would you estimate demand to be for each month next year? Using a spreadsheet, follow the general format in Exhibit 3.8. (Do not round intermediate calculations. Round your answers to 2 decimal places.) b. To be reasonably confident of meeting demand, Nina decides to use 3 standard errors of estimate for safety. How many additional units should be held to meet this…Compare and contrast the four primary functions of a DC: accumulation, sortation, allocation, and assortment?What are the trade-offs between using revenue dollars versus sales quantities asthe units in the aggregate S&OP plan.