tracking of previously forecasted months. So they cannot check the possibility of “panic ordering” No system developed to track incoming demand‚ inventory & production rates Incorrect method in manufacturing strategies Organizationally Forecasting problems on the demand of old and new products No specific person in charged on demand and forecast error Their current policy of 3 weeks demand safety stock is not relevant with old products due to continuously new product introductions
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SCM 404 Demand Fulfillment Spring 2014 1. Implied Demand Uncertainty (IDU) has important implications for the structure and performance of a supply chain. Consider the table below from class on 1/9/13. For each customer characteristic or need‚ explain the meaning of the “+” or “-“ and explain why that characteristic has that effect. (3 points) Customer Need Impact on IDU Quantity of individual order + Response time (customer desired lead time) - Variety of products + Service level
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request or receive assistance in preparing the answers to this exam. (Clarifications that you seek from the instructor will not be counted as assistance). Question 1. (35 points) The Multifaceted Garden Store uses two forecasting techniques to predict annual national sales of their lawnmowers at their various franchises. The actual sales and the corresponding forecasts for techniques 1 & 2 for the period spring 2010 to spring 2011 are given below: |
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face challenges every day. One of the major challenges facing McDonald’s is managing stock. Stock management involves creating a balance between meeting customers’ needs whilst at the same time minimising waste. Waste is reduced by: 1. Accurate forecasting of demand so that products do not have to be thrown away as often. 2. Accurate stock control of the raw materials. The Stock Management Problem How to Meet customer needs Minimise waste CURRICULUM TOPICS • Stock control • Business planning • Supply
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for its demand for the upcoming season. This figure is a result of a consensus between the product people‚ buyers and inventory managers. Once the predicted demand is frozen‚ L.L. Bean uses its historical demand and forecast data to analyze the forecasting errors. The forecast errors are calculated for each individual item and a frequency distribution of these is made‚ which is further used as a probability distribution for future errors. Thus‚ if 50% of the errors were within 0.7 and 1.6‚ the
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Managerial Accounting 222 Week 1 Questions 1-1 How does managerial accounting differ from financial accounting? Managerial accounting and financial accounting differs in who the reporting is for and for what purpose. Managerial accounting is for company managers to use to plan‚ control‚ and make decisions regarding specific strategies. Financial accounting is prepared for owners‚ stakeholders‚ creditors‚ and government authorities and is used to verify information regarding the economic
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Complete the following case study and problems and submit the results in either a Microsoft Word document or a Microsoft Excel spreadsheet. If you choose to use an Excel spreadsheet‚ place each problem on a separate sheet and label the tab with problem number. Save your document with a descriptive file name‚ including the assignment and your name. Chapter 4: North-South Airline Case Study: In January 2008‚ Northern Airlines merged with Southeast Airlines . . . 3-1 Data collected on the yearly demand
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SUMMARY Barilla SpA‚ an Italian manufacturer and world’s largest pasta producer that sells to its retailers largely through third-party distributors‚ experienced widely fluctuating demand patterns from its distributors during the late 1980s and Barilla suffered increasing operational inefficiencies and cost penalties. Brando Vitali‚ Barilla’s ex-Director of Logistics‚ proposed a Just-In-Time Distribution (JITD) system to counter this demand variation. This system required the distributors to share
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to have facts and numbers in front of me‚ so I can see where the numbers are coming from. I am also more of a conservative person‚ so I understand how sometimes “less is more”. To improve Blanchard’s forecasting method‚ Hank can use historical data‚ experience employees‚ and multiple forecasting techniques to come up with the most accurate data. This way they will ensure that they have some safety stock on hand‚ but not too much. What should Hank Hatch recommend to his
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Excel Problems 1. The following time series represent the total population of the United States‚ in thousands‚ over the last 12 years. |Year |Population (in 000‚s) | |1991 |253‚493 | |1992 |256‚894 | |1993 |260‚255 | |1994 |263‚436 | |1995 |266‚557 | |1996 |269‚667 | |1997 |272‚912
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