Q1) Comment on the forecasting method being used by Yankee? Suggest changes that you feel are justified? Ans1) Yankee presently is using the qualitative method for forecasting future demand. Qualitative method as we know is subject to experts’ intuition‚ experience‚ and opinions. So each person according to his/her past experience‚ forecasts the demand for the future. For example‚ Phil Stanton who is in the operations makes his decision of producing in the future on the basis of demand forecast
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demand driven approach leads ot more consistent forecast and optimal r esource allocation. – 4. Differentiate the product closer to the customer Companies today no longer can afford to stock pile inventory to compensate for possible forecasting errors. Instead ‚ they need to postpone product differentiation in the manufacturing process closer to actual consumer demand. This strategy allows the supply chain to r espond quickly and cost effectively to changes in customer needs
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Last Date of Submission: 15th November 2012 Maximum Marks: 100 Attempt all the questions. All questions are compulsory and carry equal marks. SECTION – A 1. a) Explain the need for different forecasting techniques. How can we evaluate as to how good is our forecast. b) Collect data on the amount of expenditure you do each day for the next 25 days and based on the same forecast using 7day moving average the forecast for the 26th
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Starbucks as having a matrix structure. The matrix structure is made up of cross-functional work teams that have the ability to report to heads of the organization other than the primary supervisor including reports that relate inventory data and forecasting to marketing initiatives (Encyclopedia for Business‚ 2010). When it comes to a company that prides itself on serving fresh premium coffee every day‚ the main inventory problem any company is accomplishing this goal. At times it hard to pull this
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(including the processor)‚ five CD/DVD alternatives‚ three operating systems‚ and four other options. a. What was the total number of potential finished products? b. If it cost $10 per item to make a forecast each week‚ what is the weekly savings from forecasting just the components and options as compared to the potential number of finished products? Answer: a. The number of potential finished products is the product of all the components and options. The total number of finished products possible is: 7
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1%‚ a beta of 1.45 and the RWJ book gives a market risk premium of 8.2%. By plugging the numbers we can solve for k. K = 1% + 1.45(8.2%) = 12.89% Next we need to forecast the price for the stock for the year 2016 (P2016). The first step in forecasting the price is to calculate the growth (g) rate of the stock. g = ROE(1-dividend payout ratio) The Value Line tear sheet gives us both the ROE (8.0%) and the dividend payout ratio (13%). By plugging in the numbers we can solve for g. g =
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Production Planning Introduction The intention of this project is to demonstrate the function of production planning in a non - artificial environment. Through this simulation we are able to forecast‚ with a degree of certainty the monthly requirements for end products‚ subassemblies‚ parts and raw materials. We are supplied with information that we are to base our decisions on. The manufacturer depicted in this simulation was actually a General Electric facility that produced black and white
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spreadsheets. The spreadsheet package includes a CD-ROM‚ sample print-outs and detailed instructions for use. You’ll find the following easy-to-use spreadsheets: Spreadsheet 1: The Inventory Performance Simulator This spreadsheet allows you to perform forecasting‚ replenishment‚ and investment analysis on up to100 items at a time by loading your data into a single worksheet. Areas of analysis include: • Differentiating types of usage. • For items with recurring usage‚ identify the best forecast formula
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Highline Financial Services‚ Ltd Week 1 Case Study Every origination needs to separate themselves from their competition. From offering the newest and latest products to offering outstanding service. Highland Financial Services Itd. Is no different from other companies. Standing out from other organizations is critical for the company’s success. Managing partner Freddie Mack must use the information that he has been provided with to find if he may need to hire or layoff
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OPERATIONS MANAGEMENT 1. Supplier Us Customer Raw materials Transforming Work in progress inventory Transformation Finished goods inventory Customer Codex 25000D1‚ 18 dollars (Notes and Problems). Assignment 1‚ 2 make for 15%. Midterm make for 35% and the Assignment 3 for 10%. Finals make up for 40%. Assignments handed in at the beginning of sessions 5‚ 7 and 12. Value added: Inputs Transformation process Outputs. How do we increase value to the product. A lot of things
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