Loose-leaf for Operations Management (The Mcgraw-hill Series in Operations and Decision Sciences)
12th Edition
ISBN: 9781259580093
Author: William J Stevenson
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 4.8, Problem 1.1RQ
LEGO A/S IN THE PINK
Lego A/S overcame the recent doldrums in the toy market as well as new competition in the building-block segment to continue its market success, increasing revenues and achieving a close tie for the No. 2 slot in the global toy business.
“The Danish toy maker enjoyed sustained success for its popular Lego City and Lego Star Wars sets. Its new Lego Friends theme targeting girls sold twice as well as initial expectations and helped triple sales to girls.”
Questions
Can you think of other companies that have used new colors to extend or grow the market for their products?
Source “Lego Shrugs Off Toy-Market Blues,” The Well Street Journal, February 21, 2013.
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Scenario
You have been given a task to create a demand forecast for the second year of sales of a premium outdoor grill.
Accurate forecasts are important for many reasons, including for the company to ensure they have the materials
they need to create the products required in a certain period of time. Your objective is to minimize the forecast
error, which will be measured using the Mean Absolute Percentage Error (MAPE) with a goal of being below 25%.
You have historical monthly sales data for the past year and access to software that provides forecasts based on
five different forecasting techniques (Naïve, 3-Month Moving Average, Exponential Smoothing for .2, Exponential
Smooth for .5, and Seasonal) to help determine the best forecast for that particular month. Based on the given
data, you will identify trends and patterns to create a more accurate forecast.
Approach
Consider the previous month's forecast to identify which technique is most effective. Use that to forecast the next…
Chapter 4 Solutions
Loose-leaf for Operations Management (The Mcgraw-hill Series in Operations and Decision Sciences)
Ch. 4.5 - Prob. 1.1RQCh. 4.5 - Prob. 1.2RQCh. 4.8 - LEGO A/S IN THE PINK Lego A/S overcame the recent...Ch. 4.11 - THE CHALLENGES OF MANAGING SERVICES Services can...Ch. 4.11 - THE CHALLENGES OF MANAGING SERVICES Services can...Ch. 4.S - Prob. 1DRQCh. 4.S - Prob. 2DRQCh. 4.S - Prob. 3DRQCh. 4.S - Consider the following system: Determine the...Ch. 4.S - A product is composed of four parts. In order for...
Ch. 4.S - A system consists of three identical components....Ch. 4.S - A product engineer has developed the following...Ch. 4.S - The guidance system of a ship is controlled by a...Ch. 4.S - One of the industrial robots designed by a leading...Ch. 4.S - A production line has three machines A, B, and C,...Ch. 4.S - Prob. 8PCh. 4.S - A Web server has five major components that must...Ch. 4.S - Repeat Problem 9 under the condition that one of...Ch. 4.S - Hoping to increase the chances of reaching a...Ch. 4.S - An electronic chess game has a useful life that is...Ch. 4.S - A manufacturer of programmable calculators is...Ch. 4.S - Lucky Lumen light bulbs have an expected life that...Ch. 4.S - Prob. 15PCh. 4.S - Prob. 16PCh. 4.S - A major television manufacturer has determined...Ch. 4.S - Prob. 18PCh. 4.S - Determine the availability for each of these...Ch. 4.S - Prob. 20PCh. 4.S - A manager must decide between two machines. The...Ch. 4.S - Prob. 22PCh. 4.S - Auto batteries have an average life of 2.7 years....Ch. 4 - Prob. 1DRQCh. 4 - Prob. 2DRQCh. 4 - Prob. 3DRQCh. 4 - Prob. 4DRQCh. 4 - Prob. 5DRQCh. 4 - Prob. 6DRQCh. 4 - Prob. 7DRQCh. 4 - Prob. 8DRQCh. 4 - a. What is meant by the term life cycle? b. Why...Ch. 4 - Prob. 10DRQCh. 4 - Prob. 11DRQCh. 4 - Prob. 12DRQCh. 4 - Prob. 13DRQCh. 4 - Explain what quality function development is and...Ch. 4 - Prob. 15DRQCh. 4 - Prob. 16DRQCh. 4 - Prob. 17DRQCh. 4 - Prob. 18DRQCh. 4 - Prob. 19DRQCh. 4 - Describe some of the trade-off that are...Ch. 4 - Prob. 2TSCh. 4 - Prob. 3TSCh. 4 - Prob. 1CTECh. 4 - Prob. 2CTECh. 4 - Prob. 3CTECh. 4 - Prob. 4CTECh. 4 - Prob. 5CTECh. 4 - Give two examples of unethical conduct involving...Ch. 4 - Prob. 1PCh. 4 - Prob. 2PCh. 4 - Prepare a service blueprint for each of these...Ch. 4 - Prepare a service blueprint for each of these post...Ch. 4 - Prob. 5PCh. 4 - Prob. 6PCh. 4 - Prob. 7PCh. 4 - Prepare a table similar to that shown in Problem...
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