able 5.1: The demand forecast developed for the year ended 31 December 2022. Month Production days Demand forecast Jan 16 150 Feb 16 150 Mar 23 250 Apr 21 250 May 22 400 Jun 22 500 Jul 21 600 Aug 20 750 Sep 20 450 Oct 20 250 Nov 16 150 Dec 16 150 1. Compute and tabulate the daily demand for each month in the table below (round off to the nearest whole number). 2. Assuming that MPQ Limited had adopted a level strategy for the year ended 31 December 2022, compute the average daily demand for the year (round off to the nearest whole number)

able 5.1: The demand forecast developed for the year ended 31 December 2022. Month Production days Demand forecast Jan 16 150 Feb 16 150 Mar 23 250 Apr 21 250 May 22 400 Jun 22 500 Jul 21 600 Aug 20 750 Sep 20 450 Oct 20 250 Nov 16 150 Dec 16 150 1. Compute and tabulate the daily demand for each month in the table below (round off to the nearest whole number). 2. Assuming that MPQ Limited had adopted a level strategy for the year ended 31 December 2022, compute the average daily demand for the year (round off to the nearest whole number)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 46P

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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. 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?
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Period Demand 1 2 3 4 5 64 ៩៩៨៖ 62 65 61 66 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.) Forecast Period 5 Forecast Period 6 b. If the actual demand for period 6 is 65, forecast demand for period 7 using the same weights as in part a. Forecast Period 7
A) Forecast demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1. YEAR DEMAND FOR FERTILIZER (1,000S OF BAGS) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15
Zeus Computer Chips Inc. used to have major contracts to produce the Centrino-type chips. The market has been declining during the past three years because of the dual-core chips, which it cannot produce, so Zeus has the unpleasant task of forecasting next year. The task is unpleasant because the firm has not been able to find replacement chips for its product lines. Here is demand over the past 12 quarters:2007 2008 2009I 4,800 I 3,500 I 3,200II 3,500 II 2,700 II 2,100III 4,300 III 3,500 III 2,700IV 3,000 IV 2,400 IV 1,700Use the decomposition technique to forecast the four quarters of 2010.
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Demand at Nature Trails Ski Resort has a seasonal pattern.Demand is highest during the winter, as this is the peak ski season.However, there is some ski demand in the spring and even fallmonths. Th e summer months can also be busy as visitors oft encome for summer vacation to go hiking on the mountain trails.Th e owner of Nature Trails would like to make a forecast for eachseason of the next year. Total annual demand has been estimatedat 4000 visitors. Given the last two years of historical data, what isthe forecast for each season of the next year?
The following is the forecasted demand for Olives Company over the next few months. Month Forecasted Demand Jan 9025 Feb 9000 Mar 9450 Apr 9830 May 9630 10100 Jun Olives Company plans on using a constant production of 9,250 units a month at a $941 per unit cost. The company has an inventory balance of 300 units at the beginning of January. Stockout cost due to loss sale is estimated to be $202 per unit. Monthly inventory holding cost are $20 per unit. Olives Company can produce an additional 10% of its' regular production in overtime at the cost of $80 more per unit. Assume that Olives Company will avoid stockout if possible Under this plan how much will will Olives Company spend on inventory holding cost (answer to the nearest whole number)
State an example of industries where the demand forecasting is dependent on the demand of other products ?