Company ABC is planning to introduce a new advanced model for their Juice Maker product. The process is mainly fabrication of parts followed by assembly of the final product. The design team of the company is assigned to perform the following tasks. Show how the data is obtained (survey, literature, actual from records). Justify any assumptions used in your analyses.Demand Forecast 6. To forecast the demand for the new model of the product including the following:a. Identify for the forecasting method that will be used: the time frame, demand behavior, and its causes.b. Use Adjusted Exponential Smoothing Model. c. The weighing factors (smoothing constants) to be selected based on experimentation.Inventory Management 7. Manage the inventory of the new model of the product including the following:a. Decide on the type of inventory. b. Use continuous inventory control system with Production Quantity Model.c. Justify any assumptions used in your analysis. Company ABC is planning to introduce a new advanced model for their Juice Makerproduct. The process is mainly fabrication of parts followed by assembly of the finalproduct. The design team of the company is assigned to perform the followingtasks. Show how the data is obtained (survey, literature, actual from records).Justify any assumptions used in your analyses.Demand Forecast6. To forecast the demand for the new model of the product including thefollowing:a. Identify for the forecasting method that will be used: the time frame,demand behavior, and its causes.b. Use Adjusted Exponential Smoothing Model.c. The weighing factors (smoothing constants) to be selected based onexperimentation.Inventory Management7. Manage the inventory of the new model of the product including thefollowing:a. Decide on the type of inventory.b. Use continuous inventory control system with Production QuantityModel.c. Justify any assumptions used in your analysis.

6. a.) In order to identify the time frame, demand behavior and the causes the market research…

Answered: Company ABC is planning to introduce a…

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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Company ABC is planning to introduce a new advanced model for their Juice Maker product. The process is mainly fabrication of parts followed by assembly of the final product. The design team of the company is assigned to perform the following tasks. Show how the data is obtained (survey, literature, actual from records). Justify any assumptions used in your analyses. Demand Forecast 6. To forecast the demand for the new model of the product including the following: a. Identify for the forecasting method that will be used: the time frame, demand behavior, and its causes. b. Use Adjusted Exponential Smoothing Model. c. The weighing factors (smoothing constants) to be selected based on experimentation. Inventory Management 7. Manage the inventory of the new model of the product including the following: a. Decide on the type of inventory. b. Use continuous inventory control system with Production Quantity Model. c. Justify any assumptions used in your analysis.