Why do operations planning require that a forecast be expressed in terms of physical units for an individual goods and services?
Q: A forecast of 240 units in January, 320 units in February, and 240 units in March has been approved…
A: January Forecast = 240 February Forecast = 320 Product C Forecast = 240*0.25 = 60 in January and…
Q: How does aggregate planning in service differ fromaggregate planning in manufacturing?
A: Manufacturing refers to the production of products for either use or for sale, by using labor and…
Q: what is the formula for inventory, queuing and forecasting in production and operations management?
A: In production and operations management Inventory is given with the help of EOQ. EOQ or Economic…
Q: The objective of operation planning is to O a. develop an economic strategy for meeting customer…
A: The determination of the Operational Plan is to deliver organization staffs with a clear depiction…
Q: Prepare a Master Production Schedule (MPS) for an Agri-Chemical company given the following…
A: First calculate the projected-on hand inventory for each period using the following formula.…
Q: What are the most important objectives in terms of processes and supply chain strategy? Describe the…
A: The below are the top priorities in terms of activities and supply chain strategies and plans.…
Q: What is an operational definition, and what purpose does it serve?
A: An operational definition, when functional to data collection, is a pure, concise detailed meaning…
Q: If you are to forecast for May using four month simple moving average, what would be your forecast
A: INTRODUCTION…
Q: What issues does excessive demand forecasting create within a supply chain?
A: Demand forecasting entails projecting higher than the actual or existing level of demand.…
Q: A production line is to run at 1000 units per month. Sales are forecast as shown in the following.…
A: Given data is
Q: which are often made by
A: It is often made by Demand forecasting, a type of data analytics that aims to analyze and predict…
Q: Draw operations strategy matrix for a successful restaurant. Fill up to 10 boxes out of 20 in the…
A: ANSWER IS AS BELOW:
Q: What role does collaborative forecasting play in a supply chain of a build to order manufacturer…
A: The bullwhip effect in businesses disturb the supply chain at many production and operational…
Q: How operation and production planning will help sufficiently satisfy the desired outcome of your…
A: The production and operations planning can be defined as a process that converts the inputs or the…
Q: An electric hand drill would take 15, 40, 10, 20, 50, and 30 units in the next 6 weeks. The…
A: The MPs record for the production of drill log is as under: Drill Log 1 2 3 4 5 6 Forecast…
Q: . _______ The time period during which an operational plan will be in effect
A: Operational Plan- A practical document that outlines the main activities and targets an organization…
Q: Deb Bishop Health and Beauty Products has developeda new shampoo, and you need to develop its…
A: The given information can be tabulated as below:
Q: Referring to forecasts vs. actuals regarding operations management: a. describe the various metrics…
A: Forecast error is the deviation of the genuine interest from the predicted request. In the event…
Q: What problem do you see with using the chain ratio method for predicting demand?
A: Chain Ratio Method is defined as the estimating the market demand by multiplying the base number by…
Q: Explain how forecasting is essential to supply chain planning?
A: Firms need to maintain an adequate level of inventory. Purchasing in sufficient quantities at the…
Q: what is Canadian Tire's vertical and horizontal analysis of their income statement for last 5 years…
A: Flat Analysis alludes to the method involved with contrasting the line of things over the period, in…
Q: 8 a) Explain how seasonality can impact both manufacturing and service organisations giving examples…
A: 8 a) Seasonality is defined as the characteristic where a particular product or service happens to…
Q: A resort cum restaurant spot in the area of Gazipur is open on the days of the week. The manager…
A: Given,
Q: Southeast Soda Pop, Inc., has a new fruit drink forwhich it has high hopes. John Mitten thai, the…
A: A Small Introduction about Inventory A stock is the supply of things utilized in an association. A…
Q: used to handle demand fluctuations. She has asked you to develop such a plan. (a) Calculate the…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: How are FORECASTING IN OPERATIONS AND SUPPLY CHAIN MANAGEMENT is useful?
A: Forecasting is the process of making predictions for the future based on the past and present data.…
Q: Let’s say that Glass For Sale, Inc. manufacturers replacement glass for the home remodeling…
A: Linear programming model formulation- Decision Variable: Suppose-F = The no. of windows manufactured…
Q: At last year’s bass tournament, Jim caught 12 bass in a four-hour period. This year he caught 15 in…
A: Comparing the two years productivity. And the feasible measure of productivity is fish per hour.…
Q: What is Operations Research (OR)? Provide an explanation of OR and
A: Operations research is an application of scientific method problem-solving and decision-making that…
Q: EZ-Windows, Inc. manufacturers replacement windows for the home remodeling business. In January, the…
A: Let F = Number of windows manufactured in February M = Number of windows manufactured in…
Q: Explain the term balanced scorecard in details
A: The term "balanced scorecard" refers to the concept of examining strategic metrics in combination…
Q: Adobo Corporation manufactures and ships PVC pipes to its customers in the North America and…
A: Management theories are a variety of thoughts that prescribe basic principles for how to deal with…
Q: An aggregate plan is to be developed for the forecast of demand covering nine periods shown in Table…
A: Aggregate planning is a process for creating a long-term manufacturing strategy that assures a…
Q: A company is in the process of preparing a budget for launching a new product. The following table…
A: A project network diagram is a graphic depiction of a project's process. A network diagram is a…
Q: Paul Williams recently joined XYZ2 Limited as the head of accounting department. Williams spent the…
A: In any processes risks are common and risks are segregated as controlled risks and uncontrolled…
Q: Describe the grid technique. What is its purpose, and how does it lead to the making of a decision?…
A: A simple but well-known heuristic approach is the grid technique. It helps to assess a low-cost…
Q: Understand how forecasting is essential to supply chain planning.
A: Forecasting is the process of identifying the demand accurately for future production planning and…
Q: Why do we require product, task order, and process cost data?
A: Task Order - Every plan stores important information required by agencies to place direct delivery…
Q: What are demand forecasting and capacity strategy? Give an example of demand forecasting for a…
A: A company's decision-making is heavily influenced by demand. In a competitive industry, it is…
Q: What is the importance for BreadTalk Group to increase the profitability of its bakery division,…
A: BreadTalk group : It is Food and Beverages based company
Q: Should managers use the Balanced Scorecard framework at the same time as they use life cycle…
A: A balanced scorecard (BSC) is a strategic management performance indicator that is used to identify…
Q: snip
A: The objective of efficiency likely to be more central to planning in production.
Q: Baker Manufacturing Company forecasts the following demand for a product (in thousands of units)…
A: Year 1 2 3 4 5 Forecast Demand 131 150 151 154 153
Q: 1. Develop an aggregate plan for the following forecast 3 4 5 6 7 8 9 Total Period 1 2 Forecast 190…
A: Total worker = 20 Production = 10 unit per period Cost= P6.00 per unit. Inventory Carrying cost =…
Why do operations planning require that a
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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?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. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.
- 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?What effect has improved forecasting had on inventory and capital requirements?
- The demand data for Double T Computer Services appears below. The company wants you to forecast the demand for period 4. What is your forecast using the least squares method? Period Demand 1 37 2 40 3 40 O 44.6 O 40 O 46.0 O 43.3 O 42.0In what ways can the implementation of forecasting enhance your operations and supply chain processes? Additionally, what differentiates independent demand from dependent demand?Identify some of the important short term and long term considerations in forecasting capacity requirements? Explain each point thoroughly. What steps can organizations take to ensure a realistic determination of capacity requirements?