Mention and describe what each of the 4 types of approaches to demand analysis discussed in class consists of.
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10. Mention and describe what each of the 4 types of approaches to demand analysis discussed in class consists of.
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- 11. Provide an example for each type of approach to demand analysis.Which of the following are the four factors of aggregate demand? a. Consumption, Investment, Government spending, Exports b. Consumption, Investment, Government spending, Net exports c. Consumption, Investment, Government spending, Imports d. Consumption, Investment, Government Income, Net exportsOver 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. The Kintampo Tourist Resort (KTR) is one of Ghana’s best holiday centers and sells a special type of souvenir called Expensive. As you might expect, the demand for Expensive is highly seasonal as tourist centers exhibit a highly seasonal attraction pattern, with peaks during the summer months. The following forecasts are available for Expensive.Inventory carrying cost = GH¢3 per piece per quarter Production per employee = 1000 piece per quarter Regular workforce = 50 workersCost of regular production = GH¢50 per piece Hiring cost per employee = GH¢75Firing cost per employee = GH¢100 The management of KTR does not wish to use Level production nor Chase Demand but wants to adopt one of the following strategies:Strategy I: Produce 71,000 pieces in Quarter 1, Produce 151,000pieces in Quarter 2, Produce 200,000 pieces in Quarter 3,and Produce 30,000 pieces in Quarter 4.Strategy II: Produce 51,000 pieces in Quarter 1, Produce 161,000pieces in Quarter 2, Produce 210,000 pieces in Quarter…19 Customer segmentation and revenue management are important factors in demand flow strategy. Select one: a. False b. TrueMultiple choice questions The basic economic order quantity assumes that: Select one: a. All demand is constant, unknown and independent, without variation b. All demand is constant, known and dependent, with variation c. All demand is not constant, known and independent, without variation d. All demand is constant, known and independent, without variation e. All demand is not constant, unknown and dependent, without variation Question 3 One of success process strategies philosophies is the process foundation, which: Select one: a. Creates the supply chain of organisation to satisfy and enhance competitiveness b. Fulfills process characteristics and strategic match c. Includes subcontractors due to their link to organisational processes d. None of these e. All of these Question 4 The periodic counting system records immediate updates of inventory withdrawals Select one: a. False b. True Question 5…
- As a logistics specialist, you are responsible for meeting customer demand. One of your customers places orders for you to supply four products by the end of October. You have limited capacity for raw material and other facilities. You are required to satisfy customer demand by manufacturing the products and/or buying from a supplier. After consulting with the production department, you obtained the following information. Product A Product B Product C Product D Order quantity 2000 3500 1500 2500 Hours required on machine X per unit 2 4 5 3 Hours required on machine Y per unit 4 3 6 2 Raw material in kilos 5 1 4 6 Time needed for Packaging per unit 36 minutes 30 minutes 45 minutes 24 minutes Available monthly hours per month: 8,000 on machine X, 6000 on machine Y, and 3,000 hours for packaging. Purchased items from your supplier are already packaged. Available raw material per month: 5,000 kilos…A. A level strategy would generally be used in which production environment? a. When required job training is lower b. When job discretion is lower c. When labor turnover is higher d. When job discretion is higher B. Demand that comes from market conditions outside of the company is called: a. Dependent demand b. Independent demand c. Aggregate planning demand d. Outside demand1. A firm practices a pure chase strategy. Production last quarter was 818. Demand over the next four quarters is estimated to be 975, 935, 886, and 968. Hiring cost is $19 per unit, and layoff cost is $6 per unit. Over the next year, what will be the sum of hiring and firing costs? 2. A firm practices a pure level strategy that sets the production level at the average demand over the next four periods. Inventory last quarter was 0. The extra units produced are stored in a warehouse. The extra units needed are subcontracted. Demand over the next four quarters is estimated to be 1041, 1019, 1188, and 1090. Production cost is $25 per unit, and Inventory cost is $4 per unit. What is the production level at this form?
- Suppose XYZ Company has the following aggregate demand requirements and other data for the upcoming four quarters. Quarter Demand Other Data 1 1300 Previous quarter’s output 1500 Units 2 1400 Beginning Inventory 200 units 3 1500 Stock out cost 50$ per unit 4 1300 Inventory holding cost 10 $ per unit Hiring Workers 4$ per unit Firing workers 8$ per unit Unit Cost 30$ per unit Overtime 40 $ per unit Question: Which of the following production plans is better: –Plan A—chase demand by hiring and firing –Plan B—produce at a constant rate of 1200 and obtain the remainder from overtime?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, what would its bullwhip measure have been?(2-b) A firm's demand in the next four quarters is forecast to be 400, 600, 800, and 700 units. Given that beginning inventory is 600, desired ending inventory in quarter 4 is 300, inventory holding cost is $6 per unit per quarter, and production cost is $50 per unit, calculate the cost of a level production plan.