Describe a normal probability distribution that can be used to approximate the demand distribution. Sketch the distribution and show its mean and standard deviation. Compute the probability of a stock-out for the order quantities suggested by members of management team.
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The purpose of this assignment is to know how to apply
- Describe a normal probability distribution that can be used to approximate the demand distribution. Sketch the distribution and show its mean and standard deviation.
- Compute the probability of a stock-out for the order quantities suggested by members of management team.
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?12. Determine the planned purchases for January (a) at retail and (b) at cost for the lingerie department when the seasonal merchandise plan indicates the following planned figures: Round to the nearest dollar. Sales $88,000 Markdowns 8% BOM Stock $81,000 EOM Stock $66,000 Markup 49%
- Q The owner of a small manufacturing business has patented a new device for washing dishes. Before trying to commercialize the device and add it to the existing line of products, the entrepreneur wants reasonable assurance of success. Variable costs are estimated at Rs. 50 per unit produced and sold. Fixed costs are Rs. 4,00,000 per year. A) If selling price is set at Rs. 250, how many units must be produced and sold to break-even? B) Forecasted sales for the first year are 4500 units, if price is reduced to Rs. 150. With this pricing strategy, what would be the product’s profit?Q5. Discuss the Internet marketing possibilities for the product/service in Amazon retail company? Q6. Discuss the use of social media in the marketing of the product/service in Amazon retail company?Types of trend (technical analysis) and give example with interpretation.
- Create a detailed marketing plan for ta credit card product. Your plan should cover all essential aspects of marketing strategy and implementation, and it should be well-supported by relevant research and analysis.Assignment Guidelines:1. Product/Service Selection : Choose a specific banking product or service to focus on.Explain why you believe this product or service is needed in your community/country andhow it aligns with current market trends and demands.2. Market Analysis : Conduct a thorough analysis of your target market. Define the targetaudience and provide demographic, psychographic, and behavioral insights. Identifycompetitors and analyze their strengths and weaknesses.3. Marketing Objectives and Goals : Set clear and achievable marketing objectives for thenew product/service launch. These objectives should be specific, measurable, attainable,relevant, and time-bound (SMART).4. Marketing Strategy : Develop a comprehensive marketing strategy that includes the 4Ps(Product,…Assume Tea brands ChotooChai and BaraChai are competing brands in the market. With arrival of winter season, ChotooChai announces good promotional deals. Using ‘Comparative Statics Analysis’ of demand and supply model: a)How will the managements of the two brands study the short-run and long-run impact on Tea Sales, after the announcement of promotions in the market of Tea? B)Demonstrate and explain, with clearly labelled two panel diagrams, the ‘Rationing Function’ and the Allocating or ‘Guiding Function’ of PriceQuestion 11 Our marketing department have identified a new use for our product which with a slight repositioning could result in a new market in which we can generate sales. Under a SWOT analysis what would this be best described as? A Strength B Opportunity C Threat D Weakness
- CB Assignment 5 (Consumer Decision Making) After watching the Consumer Decision Making Presentation, complete the following spread sheet and indicate which brand is most likely to be selected for each of the approaches below. Smart Phones for Smart Phone Attitudes Product Attributes Price Good Reception Screen Size Camera Quality Weight Conjunctive: Product Attributes For Conjunctive use a cutoff rating of 4. For Disjunctive use a cutoff rating of 10. Price Good Reception Screen Size Camera Quality Weight Brand Selected= Disjunctive: Product Attributes Price Good Reception Screen Size Importance Rating 35 25 20 10 10 Camera Quality Weight Brand Selected= A 6 8 8 4 6 35 25 20 10 10 Brand Scores B с 8 7 6 5 A 9 2 7 Minimum Rating =4 (on all attributes) Importance Ra 10 6 3 Brand Scores Rating of 10 on ANY attribute Importance Rating 35 25 20 10 10 Brand Scores C A B D 5 6 8 2 4 D D Lexicographic: Select Best Performer for Most Important AttributeQuestion 1 The monthly demand of a company is showed below, please use the static method to forecast the demand for Year 6. Sales Year 1 Year 2 Year 3 Year 4 Year 5 JAN 2,000 3,000 2,000 5,000 5,000 FEB 3,000 4,000 5,000 4,000 2,000 MAR 3,000 3,000 5,000 4,000 3,000 APR 3,000 5,000 3,000 2,000 2,000 MAY 4,000 5,000 4,000 5,000 7,000 JUN 6,000 8,000 6,000 7,000 6,000 JUL 7,000 3,000 7,000 10,000 8,000 AUG 6,000 8,000 10,000 14,000 10,000 SEP 10,000 12,000 15,000 16,000 20,000 OCT 12,000 12,000 15,000 16,000 20,000 NOV 14,000 16,000 18,000 20,000 22,000 DEC 8,000 10,000 8,000 12,000 8,000 Total 78,000 89,000 98,000 115,000 113,000You are playing the role of the divisional manager of the new e-bike division of Fox Factory Holding Corporation. The divisional manager is preparing to request funding to introduce the product and begin sales. Three options have been identified (note that these are fictitious assumptions): • Produce the new e-bike internally, • Outsource manufacturing to another manufacturer, and • License the design to an existing company for royalties on future sales. Summarize the company's financial performance, referencing key data points from the Balance Sheet and the Income Statement available in the Quarterly Results Links to an external site. Identify the highlights and areas of concern.