POM 3310 HW1: Key Concepts and Quantitative Analysis Guide

Julissa Cantu POM 3310 Section 261 Professor Balaji Janamanchi

POM 3310 – 261 Production and Operations Management, Spring 2024 HW1: _____________________Due date: 2/12/2024____________ Total points 30 Instructions: • Include a title sheet with your name, course, section, instructor and assignment details. • Show step by step your calculations with clear explanations. Write the formula being used first before plugging in variable values. Remember, mere numerical expressions without explanations do not convey the correct meaning. • Please turn in hard copy (paper copy) of your answers for the following questions, at the beginning of class hour on the due date – No email submissions accepted. Any email submissions need prior approval (only for valid excuses). • Question 1 & 2 are for 3 points each and questions 3-8 are for 4 points each. Hint: refer to class notes, power points, practice questions and solved problems from chapter 1, 2, 3 and 4 while attempting to solve these quantitative problems. Q1. For this question, you need to look up and review the definitions of all key terms listed at the end of chapters 1, 2, 3 and 4 under Concept connections (pages 16-17, pages 38-39, page 75-76, and page 109) from the textbook. After reviewing them all, now, pick at least 5 key terms that you consider are most important from each chapter (total of at least 20 key terms from four chapters) and write down the definitions of these terms denoting chapter number at the top of each group of key terms (Chapter1, Chapter2 etc.).

Q2 a). List any three differences as discussed in the textbook, between a service and a good? b) What is product-service bundling and what are the benefits from such bundling to manufacturer offering them? c) From the current decade, what “service industry” has impressed you the most with its innovativeness? Explain the innovativeness in a couple of sentences.

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Q3. Develop a table somewhat similar to exhibit 1.3 (on page 9). List three new examples under each category i.e. Pure Goods, Core Goods, Core Services, and Pure Services. Do not repeat/duplicate the examples given in exhibit 1.3 in your response. Pure Goods Core Goods Core Services Pure Services Q4. Various financial data for the past two years follow. Calculate the total productivity measure and the partial measures for labor, capital, and raw materials for this company for both years. What do these measures tell you about this company? Last Year This Year Output: Sales $200,000 $220,000 Input: Labor 30,000 40,000 Raw materials 35,000 45,000 Energy 5,000 6,000 Capital 50,000 50,000 Other 2,000 3,000 Q5. Part A) Assume that your stock of sales merchandise is maintained based on the forecast demand. If the distributor's sales personnel call on the first day of each month, compute your forecast sales by each of the three methods requested here. a. Using a simple three-month moving average, what is the forecast for September?

b. Using a weighted moving average, what is the forecast for September with weights of .20, .30, and .50 for June, July, and August, respectively? c. Using single exponential smoothing and assuming that the forecast for June had been 130, forecast sales for July, August, and September with a smoothing constant alpha of .30. Part B) Assume an initial starting F t of 300 units, a trend ( T t ) of eight units, an alpha of 0.30, and a delta of 0.40. If actual demand turned out to be 298, calculate the Exponential Smoothing Forecast Including Trend for the next period. Q6. Historical demand for a product is as follows: a. Using a simple four-month moving average, calculate a forecast for October.

b. Using single exponential smoothing with α = 0.2 and a September forecast = 68, calculate a forecast for October. c. Using simple linear regression, calculate the trend line for the historical data. Say the X axis is April = 1, May = 2, and so on, while the Y axis is demand. d. Calculate a forecast for October and November using your regression formula. Q7. A particular forecasting model was used to forecast a six-month period. Here are the forecasts and actual demands that resulted: Find the tracking signal and state whether you think the model being used is giving acceptable answers.

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Q8 . AlwaysRain Irrigation, Inc., would like to determine capacity requirements for the next four years. Currently two production lines are in place for making bronze and plastic sprinklers. Three types of sprinklers are available in both bronze and plastic: 90-degree nozzle sprinklers, 180-degree nozzle sprinklers, and 360-degree nozzle sprinklers. Management has forecast demand for the next four years as follows: Both production lines can produce all the different types of nozzles. The bronze machines needed for the bronze sprinklers require two operators and can produce up to 12,000 sprinklers. The plastic injection molding machine needed for the plastic sprinklers requires four operators and can produce up to 200,000 sprinklers. Three bronze machines and only one injection molding machine are available. What are the capacity requirements for the next four years? (Assume that there is no learning.) -o0o- Note: For clarifications and comments contact the instructor at bjanamanchi@tamiu.edu

POM3310 HW1 Spring 2024 copy

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