The last four weekly values of sales were 120, 90, 100, 80 and 85 units. The last four forecasts for the same four weeks were 105, 80, 95, 90 and 95 units. Calculate MAPE
Q: Explain specifictly how to stop the staff from throwing unethically waste inside the water?
A: The prime objective of wastewater management is to clean the water and protect it. This generally me...
Q: The carrying cost curve and ordering cost curve of Inc.’s inventory intersect at 3,500 units. What i...
A: Economic order quantity is the optimal order quantity that any company should purchase to reduce the...
Q: Given the following history, use a three-quarter moving average to forecast the demand for the third...
A: 3 -period moving average forecast = At-1+At-2+At-33 Where, At-1= Actual data of previous period t ...
Q: 1. would be at a a. fac Trucks arrive randomly to the facility and wait pump. Since trucks vary a. ....
A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for y...
Q: wing aspects of goods and services can not be addressed by a standard: Select one: O Shape O Price Q...
A: The goods and services have certain parameters of standards against which the whole process is being...
Q: The annual demand of Bulldogs Inc. sole product totaled 450,000 units. Due to uncertainty in supply ...
A: Safety stock is the quantity of additional stocks keeping in a facility for mitigating the risk of s...
Q: John Hospital contains 450 beds. The average occupancy rate is 80% per month. In other words, on ave...
A: High low method is a way to separate the fixed and variable costs with a limited amount of the data....
Q: State some of the competitive tradeoffs that may arise in a fast- food restaurant.
A: To be determined: Some of the tradeoffs that may arise in a fast-food restaurant. Introduction: Most...
Q: Destination the way of organisations that how they manage the supply chain in a more effective way.
A: The cornerstone of supply chains includes people, processes, technology, and information, which conn...
Q: There are three important factors in managing the material requirements plan. What are they and why ...
A: Material requirement planning is concerned with the planning of material acquisition, inventory cont...
Q: How do you overcome these challenges, and what lessons do you lear
A: Accurate, on-time, and on-budget project completion is essential for success. In order to achieve ex...
Q: Instructions: Explain the events in one sentence. 1. Having output fixed at its value, at what rate ...
A: Manufacturing demand is described as a process or means through which goods are manufactured when th...
Q: A foreman has determined the expected processing times at a machine for a set of jobs and now wants ...
A: Note: - Since we can answer only up to three subparts we will answer subpart a-1(1, 2, 3, and 4) her...
Q: Use the simplex method to maximize the given function. Assume all variables are nonnegative. Maximi...
A: Given LP-Max f= 7x+14y +4zSubject to-3x+5y+4z≤303x+2y≤ 4x+2y≤ 8x,y,z≥0
Q: Meet Matt. Matt runs a men’s clothing line. Matt needs to buy 12,000 shirts per year to fulfil deman...
A:
Q: Defin e ergonomics. Discuss the role of ergonomics in job design.
A: Ergonomics is the study of how to make a job better for workers by tailoring it to their specific ne...
Q: a bakery uses the eoq model to manage the inventory of flour. the eoq is chosen at 60 lbs. each mont...
A: EOQ is economic order quantity. It is a company's optimal order quantity that calculates the total c...
Q: You have been asked by the manager of software development to lead a small group of software develop...
A: Software development can be stated as the activities associated with the automation system dedicated...
Q: How are the role of of the HR professionals had changed /expanded during the pandemic
A: With no obvious end in sight, the COVID-19 epidemic drove companies and workers into confusion and a...
Q: Rock View Restaurant is a new fast food restaurant chain. The Operations Manager has divided its nor...
A: A network diagram will helps to identify the activity relationship in a visualized manner with the u...
Q: What are the advantages and disadvantages of giving moreresponsibility for machine maintenance to th...
A: Machine maintenance can be stated as the job that keeps the mechanical resources or assets with mini...
Q: How helpful is the Economic Order Quantity model for managers ?
A: Economic order quantity is the optimal order quantity that minimizes the overall holding and orderin...
Q: A Company belonging to the process industry carries out three consecutive processes. The output of t...
A: In the given data the process can be fulfilled in two ways. One way is completely internal, that is ...
Q: Identify the four most typical types of basic data.
A: Data types are significant ideas in statistics, they empower us to apply factual estimations accurat...
Q: You have a system composed of a serial connection of four components with the following ...
A: The system's dependability reduces as the number of components linked in series grows.
Q: Consider the system composed of four processes linked by a conveyor belt. There is no storage betwee...
A: The market demand is 30 units per hour. Thus, for process 1, Inventory = 4 units Time taken = 60÷30×...
Q: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown ...
A: Formula used- 3-period moving average forecast=At-1+At-2+At-33 3-period weighted moving average fore...
Q: Conceive 2. Plan 3. Develop 4. Qualify 5. Launch
A: Product life cycle strategy
Q: Which one of the following variables is not explicitly considered in the computation of the Economic...
A: Storage cost is the cost incurred when inventory stock is stored and managed in the warehouse of an ...
Q: The coefficient of determination is (Enter your response rounded to two decimal places.)
A: A percent may be used to represent the coefficient of determination. It offers you an indication of ...
Q: Product differentiation relies on customers having different perceptions of the offered product or s...
A: Product differentiation refers to the strategy of a company in which it tries to achieve a competiti...
Q: How should I approach this 2 page miinimum question "The Organisation not only buys parts or servic...
A: Looking through a multitude of pricing lists isn't enough to choose the right provider. A range of f...
Q: Mr. Ferdinand is a well known entrepreneur who sells fresh organic beef to persons in the local comm...
A: Forecasting is the process of predicting the future demand with the help of previous or historic dem...
Q: Justify why cost leadership Strategy is the best marketing strategy to increase sales and regain mar...
A: Cost leadership is a business strategy in which corporations lower product costs in order to acquire...
Q: Ferdows Electronics, Inc. (FEI), produces short runsof custom microwave radios for railroads and oth...
A: Given data is Daily demand = 1500 radios Lead time = 1 day Safety stock = 1/2 day Kanban size = 250 ...
Q: List down the latest trends in the supply chains ?
A: Supply chain: When a company's final product or service is distributed to clients, it completes the ...
Q: A student has a device he uses in lab and records each day the device breaks down: 22 45 67 83 109 ...
A:
Q: Question 2: A town's department of public works is concerned about adverse public reaction to a sewe...
A: Control Chart can be stated as the graphical study which generally focuses on transformations or flu...
Q: 4) If the range of profitable demand for a company producing digital pumps was D'1 = 8.5 units and D...
A:
Q: Which of the following examples includes a properly formatted in-text citation for a paraphrase? A A...
A: Journal and articles on operations management or on any other subjects, when presented or referenced...
Q: Inc. wants to analyze its variances in its actual and budgeted operation. · There is no diffe...
A: Sales price variance alludes to the distinction between a business' normal price of an item or admin...
Q: Flag Faber Manufacturing inc of st paul purchases 9,649 top of the line semiconductor; the maximum b...
A: The detailed solution is given in Step 2.
Q: 4) If the range of profitable demand for a company producing digital pumps was D'1 = 8.5 units and D...
A:
Q: Reflect on this: “Success is not about how much money you make, it’s about the difference you make i...
A: This is a well known statement which is given by the ex-first lady of America, Mrs Michelle Obama. ...
Q: As manager for a retail store, you have to order new stock. There are three ranges to choose from: l...
A: Decision making under uncertainty following different approaches. each of the approaches following d...
Q: Remark:You will have 5 questions regarding the same problem but in each question the numbers will be...
A: Objective Functions and Constraints: Based on the given details, the objective funct...
Q: Which one of the following does not correspond to a JIT / Lean Practice? A. Simplify product de...
A: , Inventory management is the management in which raw materials and finished products are stored and...
Q: The two main tactics for improving reliability are _______and______.
A: Reliability can be stated as the probability that an item, system, or service will carry out its del...
Q: Merlin Park Hospital has 4 scan machines and 4 patients to scan. Each machine must be assigned to co...
A: Find the Network representation below:
Q: What do you feelare the most valid measures forassessing the success of Target's advertising? Explai...
A: Targeted advertising can be stated as the manner for marketers to available clients with an advertis...
The last four weekly values of sales were 120, 90, 100, 80 and 85 units. The last four
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
- Under what conditions might a firm use multiple forecasting methods?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?
- 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?
- a. Forecast demand for each week, including week 10, usingexponential smoothing with a 5 .5 (initial forecast 5 20). b. Compute the MAD. c. Compute the tracking signal. ANSWER A,B, CUsing exponential smoothing with a weight of 0.6 on actual values: (a) If sales are $45,000 and $50,000 for 2017 and 2018, what would you forecast for 2019. (The first forecast is equal to the actual value of the preceding year) (b) Given the forecast and actual 2019 sales of $53,000, what would you forecast for 20202)Auto sales over a 4-month period were forecasted as follows: 89, 98, 105, and 97. The actual results over the 4-month period were as follows: 92, 96, 101, and 100. What was the MAD of the 4-month forecast? (use an excel sheet to make all calaculations and show formulas used in excel)
- Weekly demand for an item averaged 100 units over the past year. Actual demand forthe next eight weeks is shown in what follows:a. Plot the data on graph paper.b. Letting a = 0.25, calculate the smoothed forecast for each week.c. Comment on how well the forecast is tracking actual demand. Is it lagging or leading actual demand?The Yummy Ice Cream Company uses the exponential smoothing method. Last week the forecast was 100,000 gallons of ice cream, and 90,000 gallons was actually sold.a. Using α = .1, prepare a forecast for next week.b. Calculate the forecast using α = .2 and α = .3. Which value of α gives the best forecast, assuming actual demand is 95,000 gallons?a. What do we mean by forecast?b. Can a forecast have an error? Justify your answer.