Solve the following questionsQ1.A. From the following forecast determine the monthly inventory balances required to follow aplan of letting the inventory absorb all fluctuations in demand. In this case, we have a constantwork force, no idle time or overtime, no back orders, no use of subcontractors, and no capacityadjustment. Assume that the firm does not use safety stock or cushion inventory to meet thedemand.Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecMonthForecasteddemand90 220 210 400 612 700378220200110100 260Productiondays22 18 2120 2220 21 2220 25 19 20

Find the Given details below: Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Total…

Answered: A. From the following forecast…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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1. Katherine is a forecast manager. She used exponential smoothing to forecast her sales with alpha equals 0.25. Her forecast for this week was 161 but the actual number is 232. What is her forecast for next week?2. Blue Pad Companyâ€™s lead time L is1week and demand rate is119units per week.Holding cost is $29 per unit and ordering cost is $281. Assume 52 weeks in a year.What is the EOQ? Keep two decimal points!3.Blue Pad Companyâ€™s lead time L is3week and demand rate is123units per week.Holding cost is $70 per unit and ordering cost is $726. Assume 52 weeks in a year.What is the ROP?4. Lugini Watchâ€™s annual demand is 107. It can produce at a rate of 19 watches per month with a $249 setup cost for the production run. Find the order quantity (EPQ) assuming carrying cost is $57 per unit a year. Keep two decimal points!5. Lugini Watchâ€™s annual demand is 108. It can produce at a rate of 24 watches per month. Using the…
For a canteen, the actual demand for disposable cups was 500 units in January and 600 units in February. The forecast for the month of January was 400 units. The forecast for the month of March considering smoothing coefficient as 0.75 is.....
7. Nowjuice, Inc., produces Shakewell fruit juice. A planner has developed an aggregate forecast for demand (in cases) for the next six months. Month May Jun Jul Forecast 4,000 4,800 5,600 Aug Sep 7,200 Oct 6,400 5,000 Use the following information to develop aggregate plans. Regular production cost Regular production capacity Overtime production cost Subcontracting cost Holding cost Beginning inventory $10 per case 5,000 cases $16 per case $20 per case $1 per case per month 0 Develop an aggregate plan using each of the following guidelines and compute the total cost for each plan. Which plan has the lowest total cost? a. Use level production. Supplement using overtime as needed. b. Use a combination of overtime (500 cases per period maximum), inventory, and subcontracting (500 cases per period maximum) to handle variations in demand. c. Use overtime up to 750 cases per period and inventory to handle variations in demand.
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The operations manager has compiled data on demand for the two most popular books from order records for the previous 14 months, as shown in the table below. Study the forecast figures for ‘JHS Science Textbook’ from the table and determine if a demand pattern is obvious, and hence prepare a monthly forecast for the next four months for this product. Briefly explain why you chose the particular method used for this forecast. Month JHS Science Textbook (cartons) SHS Math Textbook (cartons) 1 50 40 2 54 38 3 57 41 4 60 46 5 64 42 6 67 41 7 90* 41 8 76 47 9 79 42 10 82 43 11 85 42 12 87 49 13 92 43 14 96 44 *Unusual order due to flooding of a major distributor’s warehouse.
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
Assume an initial starting Ft of 200 units, a trend (Tt ) of 8 units, an alpha of 0.30, and a delta of 0.40. If actual demand turned out to be 288, calculate the forecast including trend for the next period.
11. Provide an example for each type of approach to demand analysis.
A company director wants to employ you to forecast the monthly inventory levels for the firm, which manufactures a single product. However, he is unclear what facilities to provide you with, this being the first formal forecasting project undertaken by the firm. Discuss the kinds of decisions that need to be made, including those about what information to utilize and how much money to spend, and the implications of these decisions.
Sales in hunderds) of XYX Cc for the previous 7 months are 80, 82. 88, 95, 103, 105 and 122 respectively. Forecast the sales by 4 point moving average method for the forthcoming penod Oa 10260 units Ob 10625 units Oc 11000 units d. 113500 units
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-185

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