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
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Matrix uses simple exponential smoothing with S.F = 0.6 to
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.
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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?March demand was pridicted at 590 units of gear cycles of trevaa ltd. But the actual demand was 400 units only so fourth the company now want to forecast the april demand using exponential smoothing model with constant alpha of 0.72., calculate the same
- Table 1. Demand of Hairdryer from January to July [Jadual 1. Permintaan Pengering Rambut dari Januari 2021 hingga Julai 2021] Month Demand January February 2800 2870 March 2968 April Мay 3000 3100 Jun 3150 July 3400 a) Calculate forecast future demand for May, June, July and August by using 3 months simple moving average.[hitung ramalan permintaan masa depan untuk bulan Mei, Jun, Julai dan Ogos dengan menggunakan purata bergerak sederhana 3 bulan.] *Problem 18-28 (Algo) The following are historical demand data: YEAR SEASON 2011 Spring Summer Fall 2012 Winter Spring Summer Fall Winter ACTUAL DEMAND 210 136 375 582 465 274 695 972 Use regression analysis on deseasonalized demand to forecast demand in summer 2013. (Do not round intermediate calculations. Round your answer to the nearest whole number.) Forecast for summer 2013A 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 Ⓒ 145
- The 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 an actual demand this period of 100, a forecast value for this period of 130, and an alpha of 0.6, what is the exponential smoothing forecast for next period? (Round answer to the nearest whole number.) O A. 100 OB. 130 C. 82 O D. O E. 112 118Problem 3-28 (Algo) The following are historical demand data: АCTUAL DEMAND 206 135 373 YEAR SEASON 2 years ago Spring Summer Fall Winter 583 last year Spring Summer 474 275 Fall 694 winter 952 Use regression analysis and seasonal indexes to forecast this summer's demand. (Do not round Intermedlate calculatlons. Round your answer to the nearest whole number.) Forecast for this summer's demand
- The department manager is using a combination of methods to forecast sales of toasters at a local department store. The demands are shown in the table below. Use two decimals in your answer. Week Actual Demand 24 2 30 3 32 4 35 40 6 43 Using weights of 0.50, 0.30, 0.20, Calculate the weighted three-week moving average for week 6 29.80 O 33.10 36.90 O 40.50Given the following data, use exponential smoothing (a=0.20) to develop a demand forecast. Assume the forecast for the initial period is 6. Period Demand Period Forecast 2 2 1 3 7 9 8 The exponential smoothing forecast is (round your responses to two decimal places): 1 5 6 6.00 2 3 4 8 4 5 13 6 s D 6 7Given the following demand data, compute a simple exponential smoothing forecast for alpha values of 0.2 and 0.4. Use the actual value in Period 1 as your starting forecast in Period 2. (Round all answers to two decimal places. Use these rounded answers when computing subsequent answers.) Period Actual Demand 1 2 3 4 5 6 7 8 9 10 11 Period 1 2 3 4 5 6 7 8 9 10 11 12 SESS 10 10 10 10 57 56 оннNUUо 55 55 52 51 51 50 47 49 46 a = 0.2 Forecast α = 0.4 Forecast
