Critique the demand management and forecasting as an effective tool to avoid stock outs
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Critique the demand management and
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- Explain the differences between demand planning,demand forecasting and demand management.How does the Wilson approach adapt to seasonal variations in demand and inventory management?A company has the following actual and forecasted demand history for eight periods: Period Actual Forecast 1 26 25 31 32 3 45 42 4 50 70 53 64 6. 72 70 78 81 90 88 For which period, the tracking signal exceeds 1.50 first? O a 5 O b.3 Oc.4 Od 2
- Explain Production and Inventory Strategies?Compare and contrast the four primary functions of a DC: accumulation, sortation, allocation, and assortment?Zeus Computer Chips, Inc., used to have major contracts to produce the Centrino-type chips. The market has been declining during the past three years because of the dual-core chips, which it cannot produce, so Zeus has the unpleasant task of forecasting next year. The task is unpleasant because the firm has not been able to find replacement chips for its production lines. Here is demand over the past 12 quarters: TWO LAST THIS YEARS AGO UNITS YEAR UNITS YEAR UNITS 4,805 3,505 4,305 3,005 3,505 2,705 3,490 2,405 3,195 2,105 2,705 1,705 II II II II IV IV IV Use the decomposition technique to forecast demand for the next four quarters. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Period Forecast (Units) II II IV · = = >
- How do the inventory systems compareSupply/Demand Info Predicted Sales Regular production Overtime production Subcontract production Ending inventory Hired employees Fired employees Total employees Cost variables are as follows: Cost Variables Labor cost/hour Overtime cost/ton Subcontracting costiton Holding cost ton/month Hiring cost employee Firing cost/employee Beginning Apr May 4,200 531 $20 $32 $25 $10 $3.700 $4.000 Jun 51,500 50.300 61,600 Here is some additional relevant (capacity) information: Capacity Information Total labor hours/ton Regular production tons/employee/month Max regular production (tons/month) Max overtime production (tons/month) Max subcontractor production (tons/month) 3 100 56,700 3,700 6,000 Jul Aug Sep 45,400 56.600 62,800 Given the above information (and don't overlook beginning number of employees and inventory levels in the first table), create a LEVEL production plan with only the use of regular production and no inventory left over at the end of the six-month period. What is the regular…Zeus Computer Chips, Inc., used to have major contracts to produce the Centrino-type chips. The market has been declining during the past three years because of the dual-core chips, which it cannot produce, so Zeus has the unpleasant task of forecasting next year. The task is unpleasant because the firm has not been able to find replacement chips for its production lines. Here is demand over the past 12 quarters: LAST THIS YEAR TWO YEARS AGO UNITS YEAR UNITS UNITS 4,785 3,495 2,696 3,475 3,210 2,078 2,705 1,695 I I I II 3,475 4,195 II II III III III IV 2,995 IV 2,375 IV Use the decomposition technique to forecast demand for the next four quarters. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Period Forecast (Units I II III IV