After reviewing the forecasting demonstration and looking over the slides, complete the following case activity and transfer your answers to the appropriate questions in the Canvas activity quiz. You have been hired as a demand planning intern for Hawaiian Island Creations (HIC). They want you to de- velop a forecast for their HIC Papanui style of sun- glasses. The goal is to determine how many pair they will produce to meet retailer demand in July 2021. During your first meeting, you were handed some data to work with and the product team talked about the company's upcoming promotional blitz to support Summer Break '21 in major vacation destinations. Month Forecast Demand January 2021 4,000 3,300 February 2021 4.200 3,900 March 2021 4 500 4,300 April 2021 4.800 4,200 May 2021 5,000 5.400
After reviewing the forecasting demonstration and looking over the slides, complete the following case activity and transfer your answers to the appropriate questions in the Canvas activity quiz. You have been hired as a demand planning intern for Hawaiian Island Creations (HIC). They want you to de- velop a forecast for their HIC Papanui style of sun- glasses. The goal is to determine how many pair they will produce to meet retailer demand in July 2021. During your first meeting, you were handed some data to work with and the product team talked about the company's upcoming promotional blitz to support Summer Break '21 in major vacation destinations. Month Forecast Demand January 2021 4,000 3,300 February 2021 4.200 3,900 March 2021 4 500 4,300 April 2021 4.800 4,200 May 2021 5,000 5.400
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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Question
![worksheet Word
June 2021
5,300
5,800
Other useful information about the company:
Internal production capacity = 4,500 units per month
Historical forecasting error = ± 300 units per month
Evaluate the capacity of HIC's internal production capacity to serve demand.
Calculate capacity utilization for April 2021
0.93 or 93%
Based on HIC's available resources, do they have enough internal production capacity to serve demand in June
2021?
Yes
Calculate the demand forecast for July 2021 using the methods listed below. Work with the data provided
in the table on the previous page.
Three-Month Simple Moving Average
5,033
4:11 PM
79°F Sunny
9/3/2021](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F60518c46-9a6d-435e-a91d-c372f77de598%2F7f08a775-95e2-48ad-9c7b-e669e0a2b8f5%2Fkzqhdxr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:worksheet Word
June 2021
5,300
5,800
Other useful information about the company:
Internal production capacity = 4,500 units per month
Historical forecasting error = ± 300 units per month
Evaluate the capacity of HIC's internal production capacity to serve demand.
Calculate capacity utilization for April 2021
0.93 or 93%
Based on HIC's available resources, do they have enough internal production capacity to serve demand in June
2021?
Yes
Calculate the demand forecast for July 2021 using the methods listed below. Work with the data provided
in the table on the previous page.
Three-Month Simple Moving Average
5,033
4:11 PM
79°F Sunny
9/3/2021
![Tools
View
Week 3 Bonus Activity-
DEMAND FORECASTING CASE STUDY
After reviewing the forecasting demonstration and
looking over the slides, complete the following case
activity and transfer your answers to the appropriate
questions in the Canvas activity quiz.
You have been hired as a demand planning intern for
Hawaiian Island Creations (HIC). They want you to de-
velop a forecast for their HIC Papanui style of sun-
glasses. The goal is to determine how many pair they
will produce to meet retailer demand in July 2021. During
your first meeting, you were handed some data to work
with and the product team talked about the company's
upcoming promotional blitz to support Summer Break '21
in major vacation destinations.
Month
Forecast
Demand
January 2021
4.000
3,300
February 2021
4,200
3,900
March 2021
4,500
4,300
April 2021
4.800
4,200
May 2021
5 000
5.400
of 4
P Type here to search
立](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F60518c46-9a6d-435e-a91d-c372f77de598%2F7f08a775-95e2-48ad-9c7b-e669e0a2b8f5%2Fngw3ktr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Tools
View
Week 3 Bonus Activity-
DEMAND FORECASTING CASE STUDY
After reviewing the forecasting demonstration and
looking over the slides, complete the following case
activity and transfer your answers to the appropriate
questions in the Canvas activity quiz.
You have been hired as a demand planning intern for
Hawaiian Island Creations (HIC). They want you to de-
velop a forecast for their HIC Papanui style of sun-
glasses. The goal is to determine how many pair they
will produce to meet retailer demand in July 2021. During
your first meeting, you were handed some data to work
with and the product team talked about the company's
upcoming promotional blitz to support Summer Break '21
in major vacation destinations.
Month
Forecast
Demand
January 2021
4.000
3,300
February 2021
4,200
3,900
March 2021
4,500
4,300
April 2021
4.800
4,200
May 2021
5 000
5.400
of 4
P Type here to search
立
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