Questions for Case Analysis #2 L.L. Bean‚ Inc. Item Forecasting and Inventory Management Each group should prepare one report that includes the answers and discussion of the following question. On top left corner of your report‚ please write your team’s name and names of team members in alphabetical order. Q1. (15 pts) Mark Fasold stated that “In catalog business like ours‚ you really capture demand. That’s the good news”. Do you agree with Mr Fasold? If you agree‚ explain how L.L. Bean is capturing
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parts—will perform better then the original branded products they’re based on • Radical life extension will reshape entire markets and society • The new global Innovation Economy will deliver widespread prosperity and wealth -more- The first forecasting handbook for the twenty-first century‚ THE EXTREME FUTURE is the next Megatrends‚ providing an insider’s view of the key trends that will shape our future marketplace and society. James Canton‚ Ph.D. is a renowned global futurist and sought-after
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groups represented were – Sales‚ Marketing‚ Production and Logistics. The Marketing Group showed the Actual Sales Performance and their Forecasts for the Lin-Min Bacon over the past 2 years. They noted that the Sales Group haven’t been giving any forecasting figures‚ that’s why they have develop their own forecast – based on a two-month moving average. The marketing group claimed that they have performed beyond their responsibility and that without these forecasts; the company cannot achieve its 60%
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Michigan and Hangzhou‚ China. This paper will focus on the manufacturing business and supply chain activities of the electric fan production in Hangzhou China with information on manufacturing strategy‚ production performance‚ supplier relationships‚ forecasting and inventory. Manufacturing Strategy Riordan Manufacturing China uses a level manufacturing strategy to produce electric fans. The advantages of using a level manufacturing strategy as defined by Jacobs and Chase (2011) are‚ “Maintain a stable
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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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