Find the MAD and Tracking signal in below table. Do you think this forecast is acceptable? Why? How many units this company shall keep as the safety stocks if service level is 90%? Period Actual Demand Forecast 220 200 2 300 310 3 400 340 4. 340 350 280 300 6. 250 270
Q: Forecast February by: Arithmetic Average Weighted moving average, weights are 8 and 2. Which method…
A:
Q: Given the demand data, answer the following questions below. Year Sales 1 - 123 2 - 118 3 -…
A: A moving average is a method to obtain a complete analysis of the trends in a data kit; it is an…
Q: 6. Tread-On-Us Carpet & Tile Company sold 700,000 square t.et of carpet last year, 800,000 square…
A: Moving average is a method of forecasting. It is calculated by adding up all the data points of a…
Q: The annual demand for an automobile part is 3200 units. The unit cost is 60 OMR and inventory…
A: The formulas used for calculating the sum are: EOQ = 2 x Annual Demand x Ordering CostCarrying…
Q: 2 - 118
A: Period Data 1 123 2 118 3 109 4 112 5 100 6 110 7 124
Q: I using the multiplicative seasonal model, the demand level for George's sailboats in the spring of…
A: Multiplicative seasonal method is a model of forecasting technique that using in seasonal adjusted…
Q: The historical data for 4 periods demand are 65, 60, 80, and 70 respectively. Calculate the weighted…
A: The answers would be as follows:
Q: 1 Given the data below. Find the forecast value from June to December Month Actual Demand Forecast…
A: The method of least squares is a common technique in regression analysis to estimate the solution of…
Q: Demand 7 9 5 11 10 13 The least squares regression equation that shows the best relationship between…
A: To get the relationship between demand and period, here, first, I would determine the intercept and…
Q: Forecast for period 24 using the following three methods: Exponential smoothing with alpha = 0.25;…
A: THE ANSWER IS AS BELOW:
Q: The average demand for January has been 80, and the average annual demandhas been 1800. Calculate…
A: Forecasting in operations management is a process by which predictions are made for the production.…
Q: ACTUAL DEMAND 2011 Spring 203 Summer 144
A: YEAR SEASONACTUAL DEMAND 2011 Spring 203 Summer 144 Fall 382 Winter 565…
Q: (i) MAD (ii) MAPD (iii) RSFE
A: AS PER THE GUIDELINES, WE ARE ONLY ALLOWED TO SOLVE FIRST THREE SUB-PARTS OF A QUESTION. SO, I AM…
Q: a. Are annual sales increasing or decreasing? By how much? Annual sales are by bottles per year. b.…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: Please show work
A: From the given data.
Q: Given the following history, use a three-quarter moving average to forecast the demandfor the third…
A: Given information:
Q: 45 & 46
A: Note: Answered the first question. Kindly post another question separatelyDetermine slope and…
Q: Use the least square method to make the forecasting table. Compute the MAE and MSE
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
Q: The following are historical demand data: ACTUAL YEAR SEASON DEILAND 204 2011 Spring Summer 150 Fall…
A: given,
Q: The following are historical demand data: ACTUAL DEMAND 205 YEAR SEASON 2 years ago Spring Summer…
A: Linear regression technique is employed when there is an observant down trend or uptrend in the data…
Q: a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round…
A: Forecasted demand is the future demand of customers predicted based on the previous data or demand.…
Q: A company has the following actual and forecasted demand history for eight periods: Period Actual 26…
A: Solution Tracking signal is calculated as the ratio of cumulative error divided by the mean absolute…
Q: 3. A toy manufacturer makes stuffed kittens and puppies which have relatively lifelike motions.…
A: In the question, we could see that there are three alternatives, these are wind-up action, Pneumatic…
Q: Compute the one-step-ahead three-month and six-month moving-average forecastsfor July through…
A: The techniques of forecasting give the complete idea of the trend is known as moving average…
Q: This historical demand for 4 periods demand is 70, 60, 80, and 90 respectively. What is the…
A: The two-period weighted moving average forecast for fifth period is in the next step
Q: Among these trend patterns, within the projection methods, choose the one that is most common when…
A: Secular refers to market activities that extend over long time horizons, and they do not get…
Q: If we use a simple exponential smoothing method with ??=0.3, ??11=100 and ??12=120, what is your…
A: Inventory management is the management in which raw materials and finished products are stored and…
Q: The Nuts’n’Bolts hardware store stocks some high-value items and a large number of rel- atively…
A: Lead time for low value components = 2 weeks Lead time for high value components = 4 weeks To…
Q: Exponential Smoothing, Exponentially Smoothed MAD, and Tracking SignalThe XYZ Company was flooded by…
A: Formula:
Q: revenue forecast apply to sensitivity analysis
A: ‘Sensitivity Analysis’ is an instrument utilized in financial modelling to analyse how the various…
Q: Assume the weight is 0.6 for the most recent period; 0.2 for the second most recent; 0.1 for the…
A: YEAR PERIOD DEMAND FORECAST 2017 SEP 9400 OCT 10300 NOV 11200 DEC…
Q: Demand forecasting is the art and science of predicting future market demand. Select one: a. True b.…
A: Demand forecasting refers to predicting customer demands by using historical sales data. It…
Q: This historical demand for 4 periods demand is 70, 60, 80, and 71 respectively. What is the…
A: This historical demand for 4 periods demand is 70, 60, 80, and 71
Q: A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures…
A: Forecasting can help in predicting the demand for the product in the future. There are various time…
Q: 2. MULTIPRODUCT BREAK-EVEN ANALYSIS The finance manager of Jolimac Fastfood, Inc., wants to…
A: Given, Fixed cost = $2,850 chicken mojoy cheese burger french fries ice tea Canned tuna…
Q: 1. With examples and necessary figures, define the Key Inventory Terms ? 2. Suppose, you are newly…
A: 1. The key inventory management terms are as under, a) ABC Analysis: This is a methodology…
Q: A restaurant manager with analyzing records of the last 6 weeks summarizes the daily demand figures…
A: Forecasting is critical for any business since it helps the organization to make informed business…
Q: a. Using linear regression analysis, what would you estimate demand to be for each month next year?…
A: THE ANSWER IS AS BELOW:
Q: Cadbury started an in-depth study to forecast customer demand based on data it previously Management…
A: Demand forecasting gives businesses vital information about their potential in their current market…
Q: Find forecasting error from the following table by using Tracking Signal. Period Actual…
A: n = 6
Q: Calculate four periods moving average forecast from the following last six periods Period Demand 1…
A: Period Demand 1 38 2 40 3 42 4 40 5 44 6 38
Q: March demand was pridicted at 590 units of gear cycles of trevaa ltd. But the actual demand was 400…
A: Given: March demand forecasted (Ft-1) = 590 Units March actual demand (At-1) = 400 Units Alpha =…
Q: Given an actual demand this period of 143, a forecast value for this period of 119, and an alpha of…
A: Exponential smoothing is a period arrangement gauging strategy for univariate information that can…
Q: Problem 3-28 (Algo) The following are historical demand data: АCTUAL DEMAND 206 YEAR SEASON Spring…
A: To anticipate demand on time series data, we'll use Excel software.First, we'll forecast using…
Q: Not all the items in your office supply store are evenly distributed as far as demand is concerned,…
A: Given- Week Demand Week 1 250 Week 2 350 Week 3 550 Week 4 650
Q: A manager would like to know the total cost of a chase strategy that matches the forecast belowusing…
A:
Q: Week Demand of beef 1 500 2 550 3 600 4 720 5 780 6 800 Corresponding weights are…
A: An accuracy of the forecasting method can decide by identifying the MAD value of the each method.…
Q: Specialty Toys, Inc., sells a variety of new and innovative children's toys. Management learned that…
A: : Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
Q: Cadbury started an in-depth study to forecast customer demand based on data it previously recorded.…
A: Forecasting is a technique to understand and predict the future outcomes or demand based on the…
Step by step
Solved in 4 steps
- 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?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. 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 store has the following demand figures for the last four years: Year Demand 100 1 150 3 112 4 200 Given a demand forecast for year 2 of 100, a trend forecast for year 2 of 10, an alpha of 0.3, and a beta of 0.2, what is the demand forecast for year 3 using the exponential smoothing with trend method? 128 115 Ⓒ 135 Ⓒ 145Zeus Computer Chips, Incorporated used to have major contracts to produce the Centrino-type chips. The market has been declining during the past three years because of the quad-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: QUARTER TWOYEARS AGO DEMAND QUARTER LASTYEAR DEMAND QUARTER THISYEAR DEMAND 1 4,800 1 3,500 1 3,200 2 3,500 2 2,700 2 2,100 3 4,300 3 3,500 3 2,700 4 3,000 4 2,400 4 1,700 Use the regression and seasonal indexes to forecast demand for the next four quarters. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Period Forecast 1 2 3 4Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note that the 1st quarter is Jan, Feb, and Mar; 2nd quarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, Dec. (Round final answer to a whole number.) JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Last year 165 185 200 230 240 265 210 200 195 265 290 315 This year 175 200 165 260 260 200 Forecast for the third quarter
- Assuming the following deseasonalized demand, what would your Level and Trend FORECAST factors be for future deseasonalized demand estimates? (Hint, you might want to use excel for this) period 1 2 3 4 5 6 7 8 9 10 13673 6640 2737 3486 141 13186) 5448 3485 7728 16591 8236 3316 855358 11 12 13 15 16 17 18 19 Demand Deseasonalized D₁ Demand D 3200 7658 4420 2384 3654 8680 5795 1953 4742 20 4472 4657 4956 5074 5157 5917 6646 6850 6791 6573 6363 6308 6932 7887 8662 8989 O Level-4696 Trend-343 O Level-3612. Trend-264 O Level 3629; Trend-263 O Level-2528: Trend-185The following table shows the actual demand observed over the last 11 years: Year 1 Demand 8 2 9 3 5 This exercise contains only parts b, c, and d. b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). Year Forecast 4 5 4 10 6 5 13 7 6 7 8 7 11 9 8 14 10 9 8 11 10 13 12 11 8Given the following history, use a three-quarter moving average to forecast the demandfor the third quarter of this year. Note that the 1st quarter is Jan, Feb, and Mar; 2ndquarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DECLast year 120 140 145 195 205 220 165 155 145 220 245 265This year 140 145 200 210 240 255