Baker Manufacturing Company forecasts the following demand for a product (in thousands of units) over the next five years.52 3 4123 125 127 126YearForecast DemandCurrently the manufacturer has eight machines that operate on a two-shift (eight hours each) basis. Twenty days per year are available forscheduled maintenance of equipment. Assume there are 250 workdays in a year. Each manufactured good takes 20 minutes to produce.1106a. What is the effective capacity of the factory? Round your answer down to the nearest whole number and use this answer in subsequentcomputations.YearAdditional machines neededunits/yearb. Given the five-year forecast, how much extra capacity is needed each year? Round your answers to the nearest whole number.Year123Extra capacity needed (units)c. Does the firm need to buy more machines? If so, how many? When? If your answer is zero, enter "0". Round your answers up to the nearestwhole number.123455

Year12345Forecast demand106,000123,000125,000127,000126,000

Answered: urrently the manufacturer has eight…

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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Hello, I hope you can help me with this. answer the following question and no copy paste allowed. 1. Discuss the importance of Forecasting in Operations Management. 2. Identify one method that is used in forecasting and explain how it is applied. 3. In planning the capacity, what are the factors that you have to be considered. From the three questions, what can you conclude?
Demand at Nature Trails Ski Resort has a seasonal pattern.Demand is highest during the winter, as this is the peak ski season.However, there is some ski demand in the spring and even fallmonths. Th e summer months can also be busy as visitors oft encome for summer vacation to go hiking on the mountain trails.Th e owner of Nature Trails would like to make a forecast for eachseason of the next year. Total annual demand has been estimatedat 4000 visitors. Given the last two years of historical data, what isthe forecast for each season of the next year?
The consulting agency begins collecting data on actual population demand utilization. The first year s data is: Period March 2020 April 2020 May 2020 June 2020 Demand 31,550 40,125 38,243 35,311 32,207 32,125 35,700 40,620 n Period Demand September 41,482 2020 October 2020 November 2020 December 2020 January 2021 38,450 February 2021 33,330 38,348 34,722 36,190 July 2020 42,810 August 2020 44,230 What is the forecast demand for March 2021 considering trend and seasonality?
please answer in excel Jean’s Copiers sells and repairs photocopy machines. The manager needs weekly forecasts of service calls so that she can schedule the personnel. The manager uses α = 0.3 for exponential smoothing, and the forecast for the first week was 24 calls. The manager also uses 3 weekly moving averages technique. a) Using 3 period moving averages, forecast the number of calls for week 7. b) Using exponential smoothing, forecast the number of calls for week 7. c) Compare these two forecasting techniques using Mean Squared Errors (MSE) measure. Which one is better?
1. Katherine is a forecast manager. She used exponential smoothing to forecast her sales with alpha equals 0.25. Her forecast for this week was 161 but the actual number is 232. What is her forecast for next week?2. Blue Pad Companyâ€™s lead time L is1week and demand rate is119units per week.Holding cost is $29 per unit and ordering cost is $281. Assume 52 weeks in a year.What is the EOQ? Keep two decimal points!3.Blue Pad Companyâ€™s lead time L is3week and demand rate is123units per week.Holding cost is $70 per unit and ordering cost is $726. Assume 52 weeks in a year.What is the ROP?4. Lugini Watchâ€™s annual demand is 107. It can produce at a rate of 19 watches per month with a $249 setup cost for the production run. Find the order quantity (EPQ) assuming carrying cost is $57 per unit a year. Keep two decimal points!5. Lugini Watchâ€™s annual demand is 108. It can produce at a rate of 24 watches per month. Using the…
A ski resort has recorded its recent sales as follows (in $$). Season 2 years ago Last year This year Spring 700 950 900 Summer 450 500 400 Fall 1,150 1,100 1,350 Winter 1,400 1,500 1,600 The resort estimated that the annual demand for the next year will be 4,800. What would be the forecast for next Fall? Answer: _______
Respond to each of the items using the following time series data. Period Demand 144 2 172 3 157 4 160 144 181 7 160 8 176 9. 149 10 183 11 182 12 149 13 153 14 164 15 153 16 104 Click here for the Excel Data File b. Compute all possible forecasts using a five-period moving average. (Round your answers to 1 decimal place.) Absolute Period Demand 5-period SMA Errors 1 144 172 3 157 4. 160 5 144 181 7 160 8 176 9 149 10 183 11 182 12 149 13 153 14 164 LO
A Dallas, TX-based manufacturer of small gasoline engines has developed monthly forecasts for a family of lawnmowers. Data for the 6-month period from January to June is presented in the table below. The firm would like to use an aggregate plan. MONTH Expected Demand Production Days Jan. 800 22 Feb. 700 18 Mar. 800 24 Apr. 1,200 25 May 1,600 26 June 1,900 26 One possible strategy for the manufacturer is to maintain a constant workforce throughout the 6-month period. The information below provides the cost information necessary for analyzing this alternative. Inventory carrying cost $3.00 Subcontracting cost per unit $15.00 Average pay rate $12.00 Daily pay rate = $96.00 Overtime pay rate $18.00 Labor-hours to produce a unit 2.2 Cost of increasing daily production rate (hiring and training) $200.00 Cost of decreasing daily production rate (layoffs) $350.00 The number of units produced per day = 45 and we have a constant workforce, no overtime or…
A Juarez, Mexico, manufacturer of roofing supplies has developed monthly forecasts for a family of products. Data for the 6-month period January to June are presented in the table below. There are 8 hours of production per day. Table 1 Other data Month 1 January 22 Production Demand Days Forecast 950 2 February 18 750 Inventory carrying cost Subcontracting cost per unit Average pay rate Overtime pay Rate 3 March 21 750 4 April 21 1,000 5 May 22 1,300 6 June 20 1,050 Labor-hours per unit Cost of increasing daily production rate (hiring & training) Cost of decreasing daily production rate (layoffs) $5 per unit per month $10 per unit $5 per hour ($40 per day) $7 per hour (above 8 hrs per day) 1.6 hrs per unit $300 per unit $600 per unit This exercise only contains part b. b) Juarez has yet a sixth plan. A constant workforce of 7 is selected, with the remainder of demand filled by subcontracting. Evaluate this plan. The production rate per day = ☐ units. (Enter your response as a whole…
The following table shows the actual demand observed over the last 11 years: Year 1 Demand 8 2 9 3 5 This exercise contains only parts b, c, and d. b) Using the 3-year moving average, provide the forecast from periods 4 through 12 (round your responses to one decimal place). Year Forecast 4 5 4 10 6 5 13 7 6 7 8 7 11 9 8 14 10 9 8 11 10 13 12 11 8
Year Month Actual Orders/Demands 2020 Apr 120 May 90 Jun 100 Jul 75 Aug 110 Sep 50 Oct 75 Nov 130 Dec 110 2021 Jan 90 Feb
The following gives the number of pints of type Bblood used a t Woodlawn Hospital in the past 6 weeks: a) Forecast the dema nd for the week of October 12 using a3-week moving average.b) Use a 3-week weighted moving average, with weights of .I , .3,and .6, using .6 for the most recent week. Forecast demand forthe week of October 12.c) Compute the forecast for the week of October 12using exponentialsmoothing with a forecast for August 31 of 360 and a = .2

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