Define the Following Terms: d. Break-even point e. Approaches to forecasting
Q: Differentiate between 'order quantity' and 'order winners' providing examples 1000 words
A: In operations management, two important concepts are order quantity and order winners. Order…
Q: A larger emphasis or an increase in the number of characteristics are both possible effects. Give…
A: An emphasis on a certain quality or an increase in the number of traits might have distinct…
Q: Compare and contrast private warehouses and public warehouses. Make a recommendation to Yebo Sauces…
A: A warehouse is a place where the goods are stocked so that they can be used on time without any…
Q: What mean by structural change? a) Bad Publicity b) Layoff c) Weakened Engagement Should Yes or no ?…
A: Significant changes in an organization's fundamental structure, procedures, or systems are referred…
Q: Distinguish between traditional approach and object-orientated approach views
A: De Heus a.s., a company that specializes in animal nutrition, was faced with challenges in managing…
Q: Describe the e-procurement system and its advantages over the manual system. Are there any…
A: E-sourcing, also known as e-procurement, is the practice of procuring goods and services through the…
Q: Bad Leadership : What it is, How it Happens, Why it Matters. Barbara Kellerman, Harvard Business…
A: Barbara Kellerman's book "Bad Leadership: What it Is, How It Happens, and Why It Matters"…
Q: Research Triangle Software Innovations is a software solutions company specializing in enterprise…
A: Leadership is the ability of a person to guide all the members of the team to achieve the common…
Q: Question 25 With an estimated 120 million households, a 92% penetration in chocolate consumption…
A: To calculate the sales volume in units, we can use the following formula: Sales volume = Trial…
Q: a. Please use simple linear regression to forecast the next 4 quarter demand. [You need to generate…
A: Here, for each quarter, I have been given the sales data, I would use a simple regression technique,…
Q: What kind of different data sources and analytic methods can be used to assess the performance of…
A: The Florida Re-Entry Subdivision is a community located in Florida, United States. Various data…
Q: Forecasting and Queuing model List three positive and three negative outcomes for each of these…
A: Management science is a discipline that solves complicated business problems using mathematical and…
Q: What is the solution for a?
A: As per the earlier estimation Ordering the Professors based on the Contacts:
Q: In evaluating the performance of an appointment system, ________ should be high and ________ should…
A: The evaluation of performance typically includes measuring and analyzing key indicators or…
Q: Explain why a project manager should have good communication skills.
A: A project manager's role involves overseeing and coordinating various aspects of a project to ensure…
Q: The seasonal demand for a particular product is given below: Period 1 2 3 4 5 6 Demand 300 450 100…
A: Given: The fixed cost F=$8. The unit production cost C=$1. The holding cost is h=$1.3. Formula used:…
Q: Suppose XYZ Company has the following aggregate demand requirements and other data for the upcoming…
A: Formula: Solution:
Q: In your view, which of these two terms—business intelligence or analytics—best describes the primary…
A: The timing of events is the main differentiator between business intelligence and business…
Q: How would you utilise Excel's features, and for what specific reason(s) would you do so
A: A variety of tools are available in the widely used spreadsheet programme Excel to aid in data…
Q: could we applied the example on car maintenance workshop?
A: Answer) Please find a more appropriate answer to the question below: To run a car maintenance…
Q: On Monday mornings, fresh recruits line up for an orientation intended to catapult them into…
A: Amazon, one of the largest e-commerce companies in the world, is known for its innovative business…
Q: Problem description Last year in Australia, major retailer Bunnings withdrew plastic storage bins…
A: Business ethics are the rules, values, and standards that guide the behavior of individuals and…
Q: standardisation and adaptation of coca-cola
A: Coca-Cola is a globally recognised brand that operates in more than 200 countries, and its products…
Q: What ways can executives and other organizational leaders learn about day-to-day business operations…
A: Leadership refers to inspiring and influencing others toward a common goal or vision. A leader is…
Q: Examine how the following factors influence the ability of the southern African region to develop…
A: In many locations, particularly in southern Africa, establishing regional value chains and supply…
Q: 8 August 1,500 The total overtime production cost $ (Enter your response as a whole number) The…
A: Aggregate planning is the process by which the company's overall state is planned, developed, and…
Q: 3 Positive and 3 negative outcomes for forecasting 3 Positive and 3 negative outcomes for queuing…
A: Forecasting and queuing models are two important tools used by organizations to manage their…
Q: office complex is to be renovated. Before the job can be completed, various tradespeople and skilled…
A: Basic Formulas and Structure: Diagram: a)
Q: Explain the various types of business level strategies
A: A corporation's steps to achieve a competitive edge in the market are known as business-level…
Q: answer only d, e,f
A: Here, the tabulated data is shown below, Tenure Promotion Fired Teach at another university…
Q: the training and certification requirements, as well as a few examples that are drawn from the real…
A: Operational management is a critical function in any organisation, ensuring that business processes…
Q: Find the simple exponential smoothing forecast for all the 20 weeks and also forecast the demand for…
A: The forecast is widely used in different applications for analyzing future values by making…
Q: Competitive success in fast changing markets primarily depend on a comany's ability to innovate and…
A: Markets are continually changing in today's fast-paced business climate, and organisations must be…
Q: QUESTION 6 Bob's Department Store would like to develop an inventory ordering policy with a 95…
A: Order interval(T) = 14 days Lead time (L) = 10 days Annual demand (D) = 4000 sheets per year Number…
Q: What kinds of components are necessary for efficient service level agreement management?
A: Efficient service level agreement (SLA) management in the context of computing carried out through…
Q: What type of support can you provide to an employee that isn't performing up to their full…
A: In any workplace, it is not uncommon for employees to experience periods of underperformance or…
Q: Is the above network strongly connected or weakly connected? Explain, in short.
A: A strongly connected network diagram is one in which every node in the network is reachable from…
Q: Anglo American Plantinum (Amplats) set its new wave of strategy in motion, which involves…
A: Anglo American Platinum (Amplats), a significant global producer of platinum group metals (PGMs),…
Q: a) Develop a project network for this problem. b) Determine the expected duration and variance for…
A: As per Bartleby guidelines, we can only solve one question at a time...Kindly upload the other…
Q: As part of its initiative to implement just-in-time (JIT) manufacturing at the motorcycle assembly…
A: Annual Demand (D)= 3000 motorcycles Triping cost per order (S)= $1000 Each engine cost =$500…
Q: In relation of structural approach based on comparison of the time horizon, what remain unchanged in…
A: An analytical framework or perspective known as the structural approach focuses on the underlying…
Q: Refer to the payoff table below of profits in $000). Which decision alternative results from using…
A: Mathematic models of decision-making help businesses take the correct decision for their operational…
Q: LPM Corp. produces and sells two types of frozen burgers, Turkey Burgers and Veggie Burgers. In the…
A: The break-even point is the level of sales at which a business generates enough revenue to cover all…
Q: Store A purchases cases of fertilizer for its lawn-care business from a supplier who charges Store A…
A: Ordering cost : $30 Unit cost : $50 Annual demand : 2000 bags Holding cost : 30% EOQ : 20
Q: In this M2M example, the advantages of a loT-based solution are shown with the help of a current…
A: IoT (Internet of Things) and M2M (Machine-to-Machine) communication are two concepts that have…
Q: Would it be reasonable for AMD to work more on supply products as well? If that idea is reasonable,…
A: The supply chain is the process by which companies can efficiently research, source, manage and…
Q: Duys sugal distributor to use in baking cakes. Typically, they use 30 pounds of sugar in a day. But…
A: Reorder point is the minimum level of inventory established by an organization that is also a signal…
Q: D e l a C r u z h a s j u s t g r a d u a t e d f r o m c o l l e g e a n d n e e d…
A: Planning is the process of setting goals, identifying the actions required to achieve those goals,…
Q: What is the estimated slack time for activity A? Group of answer choices 0 4 6 1
A: A network diagram shows the link of each task with the duration taken by each activity with respect…
Q: I)briefly explain the 5 management process groups. (Ii) explain the precedence diagram
A: Planning, organising, and managing resources to accomplish particular goals within a specified…
Define the Following Terms:
d. Break-even point
e. Approaches to
Step by step
Solved in 4 steps
- 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?
- The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.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?
- Q1) Forecasting is both art and science. Describe the situations where we use Qualitative forecasting techniques and quantitative forecasting techniquesExplain the benefits does exponential smoothing have over moving avarages as a forecasting tool ?1-What is the difference between qualitative forecasting techniques and quantitative forecasting techniques?
- K The following table gives the number of pints of type A blood used at Damascus Hospital in the past 6 weeks. Week Of August 31 September 7 September 14 September 21 September 28 October 5 a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round your response to two decimal places). b) Using a 3-week weighted moving average, with weights of 0.20, 0.35, and 0.45, using 0.45 for the most recent week, the forecasted demand for the week of October 12 = pints (round your response to two decimal places and remember to use the weights in appropriate order the largest weight applies to most recent period and smallest weight applies to oldest period.) August 31 September 7 September 14. September 21 September 28 October 5 October 12 c) If the forecasted demand for the week of August 31 is 345 and a = 0.20, using exponential smoothing, develop the forecast for each of the weeks with the known demand and the forecast for the week of October 12 (round your…What is Business Forecasting? (please do not copy answers on the internet, thank you)12-1. The Hartley-Davis motorcycle dealer in the Minneapolis- St. Paul area wants to be able to forecast accurately the de- mand for the Roadhog Super motorcycle during the next month. From sales records, the dealer has accumulated the data in the following table for the past year. Month January February March April Мay June Motorcycle Sales 7 10 8 7 12 July August September 10 11 12 October 10 November December 14 16 a Compute a three-month moving average forecast of demand for April through January (of the next year). b. Compore a five-month moving average forecast for June drough January. c. Compare the two forecasts computed in parts (a) and (b) using MAD. Which one should the dealer use for January of dhe next year?