Evaluate the role of forecasting and requirements planning in the purchasing cycle.

Q: Discuss when the ‘Q’ system is used and when the ‘P’ system is used. What are the distinguishing…

A: Inventory system refers to the software system, which has been used to track inventory levels,…

Q: What level of reliance should firms place on demand forecasting and supply chain management…

A: Demand forecasting is the total demand for a product expected to arise in future. Consumer…

Q: Explain the Purchasing portfolio used in the milk diary?

A: Dairy is huge business—and getting greater consistently. That is nothing unexpected. It fulfills a…

Q: A friend of yours has come to you for advice. She is in the middle of preparing a competitive…

A: A competitive analysis grid is a method for arranging the data a company gathers about its rivals to…

Q: 1.Which of the following pertains to an efficient supply chain? A)It deals with innovative products…

A: Option (A) is correct. Option (A) is correct.

Q: A procurement system enables the firm to generate demand forecasts for a product and to develop…

A: A procurement system or buying system allows organizations to adjust the method of buying…

Q: differences of tactical and operational planning

A: Definitions: Strategic planning: - A plan that defines the whole strategy on how to achieve desired…

Q: Explain what would a manager recommends the CEO to evaluate processes, risks , and internal controls…

A: The management must analyze the way the advice works. The strengths, weaknesses, improvements and…

Q: Define The Production Planning Environment?

A: The production planning environment refers to the business environment where the planning of…

Q: hase strategy is considered a sales and operations planning strategy such that: Select one: a.…

A: The chase strategy refers to the notion that you are chasing the demand set by the market.…

Q: 2.The owner of the company withdrew cash for the salaries of thw employees.which factor of…

A: 2. Answer Since wages and pay rates are pre-fixed in the terms and agreement among the organization…

Q: Balanced Scorecard SCOR Model EVA - Economic Value Analysis The Logistics Scoreboard ABC -…

A: A balanced scoreboard can be defined as the performance metric in strategic management that helps in…

Q: Describe different returns management strategies and their impact on the supply chain of Amazon ?

A: Returns management: In supply chain management, returns management plays a major role. The products…

Q: Identify the common production planning approaches and state their impact on manufacturing systems.

A: Production planning is described as the method whereby a company makes sure that supplies and raw…

Q: What are the critical elements of collaborative planning? What benefits do they provide for the…

A: Below are the different critical elements of collaborative planning:

Q: What is an “equivalent unit of production” and why it is a necessary concept to employ in a process…

A: Equivalent units of production: They are the total amount of units of finished inventory produced by…

Q: Q1. Essentially, the planning of the purchasing and supply chain function entails managing the…

A: Purchasing is responsible for the procurement process. It ensures the supply of goods, production…

Q: Identify the two categories of aggregate planning strategies,and explain the difference between…

A: The process of creating, reviewing, and preserving a tentative, estimated schedule of an…

Q: Doughton Bearings produces ball bearings for industrial equipment. In evaluating the financial…

A: Unit contribution margin = Unit selling Price-Unit Variable Cost

Q: For effective planning and control decisions, managers must focus on the following A. Continuous…

A: for effective planning and control decision manager must focus on a continuous improvement and…

Q: Rochor & Co has the following sales forecast for the next quarter: April, 20,000 units; May, 24,000…

A: Given data is March total sales = 16000 units Forecast of April = 20000 units Forecast of May =…

Q: In aggregate planning stage, the planning activities are concerned with: Select one: Gross numbers…

A: Aggregate planning is the process of developing and maintaining an approximate plan of action. It…

Q: Examine the inputs into Quality planning

A: Quality planning is a process of meeting the characteristics, functions, factors, etc. of the…

Q: What was Tinker's inventory turnover during 2020?

A: Cost of Goods Sold: 2019 = $ 770,0002020 = $ 750,000   Inventory: 2019 = $ 208,0002020 = $ 188,000

Q: Explain the Purchasing portfolio used in the organization?

A: The Kraljic portfolio is used to analyze the working of the purchasing department on different…

Q: explain how the analysis would change if office space were in high demand.

A: Risk analysis is the risk evaluation process on the basis of how much project outcomes or objectives…

Q: List the areas typically considered within purchasing’s span of control. Explain why it is important…

A: A span of control, alternatively referred to as a span of management, is used in business by…

Q: Some companies import and export flowers worldwide. It is one of the very competitive businesses in…

A: Fresh Phool Co. is a flower company, arranged in Pakistan. The company enjoys fare of flowers. The…

Q: Absenteeism, Unmet Targets, Are Signs Of Poor Operational And strategic decision

A: It is totally true that,  whenever an employee is absent or the process of absenteeism increases in…

Q: On August, a light business bought $3600 worth of lamps. At the beginning of September, the store…

A: The cost of goods sold is calculated with the help of following formula  Cost of Goods Sold =…

Q: Explain the term "three Rs" and how the three Rs relate to sustainability.

A: Reduce, Reuse, and Recycle are the three R's to remember.

Q: list the area trpically considered within purchasing span of control. Explain why it is important…

A: Purchasing span of control considers primary contact with suppliers. It means to evaluate and select…

Q: w is the cost of ending inventory calculated in a process costing system?

A: Ending inventory is indeed the cost at the end of each reporting period of those goods on hand. The…

Q: A new start-up company is conducting a SOP meeting in order to "plan ahead" to effectively address…

A: Production net requirement: Excel model: Solution:

Q: Customer segmentation and revenue management are important factors in demand flow strategy. Select…

A: Customer segmentation and revenue management are important factors in demand flow strategy.

Q: Explain the differences between demand planning,demand forecasting and demand management.

A: Supply chain management is described as the process through which customer value and supply chain…

Q: How do the distinctions between products and services affect the OM decisions?

A: While fabricating tasks center around creating merchandise and putting away them at a stockroom…

Q: Develop an aggregate plan that matches the forecast and compute the total cost of your plan. Regular…

A: Aggregate planning refers to the “big picture” approach involved in planning, wherein the aggregate…

Q: Costs for a month in which it produced 800 units. The production manager was asked to review these…

A: The total price paid for the resources used to manufacture a product or create a service, such as…

Q: Explain tye IKEAs competitive priorities

A: Ikea is one of the global leading companies which was originally founded in Sweden and headquartered…

Q: What is the 3-month simple moving average for February 2017, given that demand was 100 during…

A: The 3-month simple moving average for February 2017                                     = (Demand…

Q: Explain the Purchasing Portfolio that is being used in McDonald's with a diagram

A: McDonald's Corporation is an American fast-food company, founded in 1940 as a restaurant operated by…

Q: What is required to establish a balanced scorecard to measure purchasing and supply performance?…

A: Purchasing performance is about measuring the procurement team’s efficiency with the goal of…

Q: Which goods and services are included in basket of goods and services to calculate CPI? Why are…

A: The Consumer Price Index, or CPI, is a measure of retail inflation in the economy that collects…

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.