Tasty Bread Company has monthly demand for one of its products as follows: March= 520; April=490; May=550; June=580; July=600; August=420. Compute the three-month moving average for July.
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Tasty Bread Company has monthly demand for one of its products as follows:
March= 520; April=490; May=550; June=580; July=600; August=420. Compute the three-month moving average for July.
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Thus historical demand for periods is 70, 60, 80 , and respectivelyWhat is the two-period weighted moving average forecast for period assuming equal weights of 0.5 each
- Use exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, β= 0.3, and let the initial trend value be 12 and the initial forecast be 200. Period Actual Demand 1 200 2 212 3 214 4 222 5 236 6 221 7 240 8 244 9 250 10 266Year Sales 1) 123 2)118 3) 109 4) 112 5) 100 6) 110 7) 124 8)Determine the demand in Year 8 using a 3-month moving average using the sales table. Use weights of 0.40, 0.30 and 0.30Use exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, � = 0.3, and let the initial trend value be 12 and the initial forecast be 200
- Using exponential smoothing with alpha = .2, and assuming the forecast for period 11 was 80, what would the forecast for period 14 be?I'm trying to determine optimal order quantity but only have a Mean forecast and a standard deviation of it to use for sales data. How would I determine the sales data to use in the optimal order quantity formula?43 & 44
- What advantages does adjusted exponential smoothing have over a linear trend line for forecasted demand that exhibits a trend?Following data on the demand for sewing machines manufactured by Taylor and Son Co. have been compiled for the past 10 years. Year 1971 1972 1973 1974 1975 78 1976 1977 1978 1979 99 1980 106 Demand 58 65 73 76 87 88 93 in (1000 units) Please estimate the value of demand for next 3 years using trend analysis.Actual demand for a product for the past three months was: Three months ago 400 units Two months ago 350 units Last month 325 units Using a simple three-month moving average, make a forecast for this month. Note: Round your answer to the nearest whole number. If 300 units were actually demanded this month, what would your forecast be for next month, again using a three-month moving average? Note: Round your answer to the nearest whole number. Using simple exponential smoothing, what would your forecast be for this month if the exponentially smoothed forecast for three months ago was 450 units and the smoothing constant was 0.20? Note: Round your answer to the nearest whole number.
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