This historical demand for 4 periods demand is 70, 60, 80, and 90 respectively. What is the two-period weighted moving average forecast for fifth period assuming equal weights of 0.5 each
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Q: Time left 0:30:19 The sales of XYZ company for the previous three periods are 45,42, and 43…
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A: THE ANSWER IS AS BELOW:
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A: The answer is as below:
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Q: Short term forecast can be used for the following operation.
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Q: Using exponential smoothing method, forecast the demand for the fourth period. The historical demand…
A: ANSWER IS AS BELOW:
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Q: Thus historical demand for periods is 70, 60, 80 , and respectivelyWhat is the two-period weighted…
A: Using the 2 period weighted moving average method F(5) = 0.5*Actual (4) + 0.5*Actual(3) = 0.5*90 +…
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Q: The historical data for 4 periods demand are 65, 60, 80, and 70 respectively. Calculate the weighted…
A: Period Demand 1 65 2 60 3 80 4 70 WMA (0.4,0.6)
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A:
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- 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?Matrix 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.
- 1. Katherine is a forecast manager. She used exponential smoothing to forecast her sales with alpha equals 0.25. Her forecast for this week was 161 but the actual number is 232. What is her forecast for next week?2. Blue Pad Companyâs lead time L is1week and demand rate is119units per week.Holding cost is $29 per unit and ordering cost is $281. Assume 52 weeks in a year.What is the EOQ? Keep two decimal points!3.Blue Pad Companyâs lead time L is3week and demand rate is123units per week.Holding cost is $70 per unit and ordering cost is $726. Assume 52 weeks in a year.What is the ROP?4. Lugini Watchâs annual demand is 107. It can produce at a rate of 19 watches per month with a $249 setup cost for the production run. Find the order quantity (EPQ) assuming carrying cost is $57 per unit a year. Keep two decimal points!5. Lugini Watchâs annual demand is 108. It can produce at a rate of 24 watches per month. Using the…Determine the total cost for this plan given the following forecast:Month 1 2 3 4 5 6Forecast 380 400 420 440 460 480Use steady regular output of 400 units per month, use overtime as needed for up to 40 units permonth, and use subcontracting to make up any needed output to match the forecast. Unit costs are:Regular output = $25Overtime = $40Subcontract = $60Average Balance Inventory = $15A manager would like to know the total cost of a chase strategy that matches the forecast belowusing a steady regular production rate of 200 units a month, a maximum of 20 units per month ofovertime, and subcontracting as needed to make up any shortages. The unit costs are:Regular production = $35Overtime = $70Subcontracting = $80Month 1 2 3 4 5 6Forecast 230 200 240 240 250 240
- Using the moving average forecast, is it possible to forecast a demand that is biggerthan any previously observed demand?a. Yesb. NoAssume an initial starting Ft of 200 units, a trend (Tt ) of 8 units, an alpha of 0.30, and a delta of 0.40. If actual demand turned out to be 288, calculate the forecast including trend for the next period. A. 308 B. 250 C. 208 D. 245Not 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?
- Thus historical demand for periods is 70, 60, 80 , and respectivelyWhat is the two-period weighted moving average forecast for period assuming equal weights of 0.5 eachGiven 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 ______Answer the following: 1. Suppose that the demand in period 1 was 7 units and the demand in period 2 was 9 units. Assume that the forecast for period 1 was for 5 units. If the firm uses exponential smoothing with an alpha value of .20, what should be the forecast for period 3? 2. Weekly sales of copy paper at Cubicle Suppliers are provided in the table below. Compute a three-period moving average and a four-period moving average for weeks 5, 6, and 7. Compute the MAD for both forecasting methods. Which model is more accurate? Forecast week 8 with the more accurate method. Week Sales (cases) 1 17 2 21 3 26 4 18 5 29 6 17 7 21 3. The last four weekly values of sales were 80, 100, 105, and 90 units, respectively. The last four forecasts (for the…