Which of the following pertains to an efficient supply chain? a. It deals with innovative products b. The product life cycle will be short c. It is worthwhile to invest in good forecasting systems d. All of the above
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Which of the following pertains to an efficient supply chain?
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- whic ah of the following pertains to an efficient supply chain? it deals with innovative products the product life cycle will be short it is worthwhile to invest in good forecasting systems all of the above4, The accompanying dataset provides the closing prices for four stocks and the stock exchange over 12 days. Complete parts a through c. Complete the exponential smoothing forecast model for stock B. (Type integers or decimals rounded to two decimal places as needed.) Date Forecast B 09/03/2010 09/07/2010 enter your response here 09/08/2010 enter your response here 09/09/2010 enter your response here 09/10/2010 enter your response here 09/13/2010 enter your response here 09/14/2010 enter your response here 09/15/2010 enter your response here 09/16/2010 enter your response here 09/17/2010 enter your response here 09/20/2010 enter your response here 09/21/2010 enter your response here Date A B C D Stock Exchange 09/03/2010 127.07 18.54 20.84 15.44 10,536.56 09/07/2010 124.84 18.21 20.45 15.55 10,245.77 09/08/2010 125.67 17.77 20.83 15.72…The solution of coping with natural differences between marketing and production functions is to do what two things? Develop an equitable set of measurements and promote strong lines of communication Merge functional areas and improve forecasting Improve forecasting and maximizing productivity Appoint a single manager for both functions andproduce tosales forecasts Provide training on team techniques and coordinate reporting.
- Developing joint forecasting with supply chain partners offersthe following benefits:a) Reduce inventory b) Increase salesc) Bring value to the customer d) Share riskse) All of the aboveDemand forecasting is the primary data for decision-making in any organization. a. What will happen if organizations do not conduct a demand forecast? b. Consider any company of your choice and elaborate on your answer that you have given in part (a).a. What is your forecast for December of Year 4, making period 1 as the starting period for the regression? b. The actual demand for period 48 was just learned to be 5,100. Add this demand to the Inputs file and change the starting period for the regression to period 2 so that the number of periods in the regression remains unchanged. How much or little does the forecast for period 49 change from the one for period 48? The error measures? Are you surprised?c. Now change the time when the regression starts to period 25 and repeat the process. What differences do you note now? What forecast will you make for period 49?
- The number of daily calls for the repair of Speedy copy machines has been recorded as follows: a. Prepare three-period moving-average forecasts for the data. What is the error on each day? b. Prepare three-period weighted-moving-average fore-casts using weights of w1= .5, w2= .3, w3= .2. c. Which of the two forecasts is better?1. Using MAD as the criterion, which of the following models would you use for thegiven time series data? Why?A. Naïve approach;B. 5-month SMA model;C. WMA model with weights 0.1, 0.3, and 0.6; orD. ES model with α = 0.5 and a forecast of 3,500 liters in the first month.NOTE: In answering Item 1, mention the whole description of the model; i.e., not just“SMA model”, but “SMA model with n = ...”; not just “WMA model”, but “WMA modelwith weights ...”; not just “ES model”, but “ES model with α = ...”.Sara manages one of the Albireds shoe lines, and is working to improve the group's forecasting capabilities so that production will more closely match actual demand (that's the goal, at least!). Work our the exponential smoothing with a smoothing constant equal to 0.2, (seed the model with a January forecast = 16,000). A weighted moving average using 0.6(t-1), 0.3(t-2) and 0.1(t-3)
- Choosing between the three period and the five period forecasts, which one would you use as a purchasing manager of the Whitebridge Hardware Store for the fertilizer it sells? Be sure to factor in the cumulative forecast errors in your answer. Also, make sure you include some rationale about why you are picking the method you do for this particular business, given its demand pattern. So for example, does picking one method over the other have any impact on how much inventory they will have on hand to meet customer demand when it grows and when it drops? Which method better supports these things?A key factor for success for a retailer is a phenomenal forecasting process and resources (Jack Barker, 2015) because forecasting is a fundamental part of Spar Group Limited supply chain operations. To assist in leveraging this key factor, Spar Group Limited develop protocols forforecasting, and select a forecasting team with representatives from all the trading partners and stakeholders. Spar uses forecasting systems to provide a clear and actionable path for business activities, this helps the business to conquer certain market challenges (Graham O’Conner, 2018).Spar’s production forecast and scheduling process are broken down into two parts: planning, based on a monthly forecast, of assembly and components orders and daily scheduling of packaging custom products and sterilization based on finished goods inventory levels.During the fourth quarter of each fiscal year, Spar’s marketing and finance teams determine the annual forecast. The annual forecast is broken down based on…A key factor for success for a retailer is a phenomenal forecasting process and resources (Jack Barker, 2015) because forecasting is a fundamental part of Spar Group Limited supply chain operations. To assist in leveraging this key factor, Spar Group Limited develop protocols forforecasting, and select a forecasting team with representatives from all the trading partners and stakeholders. Spar uses forecasting systems to provide a clear and actionable path for business activities, this helps the business to conquer certain market challenges (Graham O’Conner, 2018).Spar’s production forecast and scheduling process are broken down into two parts: planning, based on a monthly forecast, of assembly and components orders and daily scheduling of packaging custom products and sterilization based on finished goods inventory levels.During the fourth quarter of each fiscal year, Spar’s marketing and finance teams determine the annual forecast. The annual forecast is broken down based on…