Justify the use of the weighting system used for evaluatingmanagers for annual bonuses.
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: 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 is KPI's & how it will be calculated? Q): What is EVA & how it will be calculated?
A: The term KPI stands for key performance indicators. They are a visual standards of the performance.…
Q: A Pizza Company has a demand forecast for the next 12 months that is shown in Table 1 The current…
A: Find the Given details below: Month January February March April May June July August September…
Q: Electro Fans has j ust received an order for one thousand 20-inch fans d ue week 7. Each fan…
A: A Small Introduction to Inventory Management Stock administration alludes to the most common way of…
Q: Q2: A company has seasonal demand, with the forecast for the next 12 months as given below. The…
A: Given - Carrying cost= $50 unit per period Hire/layoff cost = $100 Initial Inventory = 200 units
Q: The opening backlog is 800 units. Forecast demand is as shown here. Calculate theweekly production…
A:
Q: Discuss why it is important for hard rock cafe to accurately forecast demand and information…
A: Hard Rock Cafe is a restaurant chain which is founded in the year 1971 in London and has venues in…
Q: Article: Planning for Holiday Shipping at FedEx FedEx started as Federal Express in 1971 and made…
A: Company Introduction- FedEx began as Federal Express in 1971 and made its first conveyance in 1973…
Q: Adele Weiss manages the campus flower shop. Flowers must be ordered three days in advance from her…
A: Given that, Profit = [(Selling price) (Demand)] – [(Cost price) (No of dozens ordered)] Selling…
Q: Task 2: A small Tennessee company makes fused magnesia and silica. To prepare input for the planning…
A: Given data is Production quantity = 40000 pounds Safety stock = 30000 pounds
Q: Explain the reasons for comparing efficiency through DEA in relation to the weights.
A: The reasons for comparing efficiency through the DEA method concerning the weights is Because:-…
Q: d. Steps involved in classification of ABC analysis?
A: ABC analysis - is the inventory management procedure that defines the value of inventory objects…
Q: With an aid of a diagram, explain the cumulative expenditures curve concept.
A: The cumulative expenditures curve concept is a concept studied under the New Product Development…
Q: Co.PL Manufacturing makes many components for print machines and copy machines. The company makes 20…
A: The process to predict the future by analyzing the trend is known as the forecasting technique. The…
Q: Mention and describe what each of the 4 types of approaches to demand analysis discussed in class…
A: Analysis of demand means acknowledging the demand of consumers in a given market for a product or…
Q: Over the past 12 months, Super Toy Mart hasexperienced a demand variance of 10,000 units and has…
A: The bullwhip effect refers to making changes in the supply chain of the organization as compared to…
Q: Dwayne Cole, owner of Florida firm that manufactures display cabinets, develops an 8-month aggregate…
A: Find the Given details below: Month Jan Feb Mar Apr May June Jul Aug Total Demand (Unit) 255…
Q: The production manager at Zam Tech has developed following aggregate forecast of its products:…
A: Find the Given details below: Period 1 2 3 4 5 6 7 Total Forecast 50 44 55 60 50 40 51 350
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: Mr. Zulhakim being assigned by his manager to develop their production planning for Year 2022. Table…
A:
Q: Prepare a Master Schedule like that shown in Figure 11.11 given the following information: The…
A: MPS ordering rule is to be used here. The calculations are shown below: Week Prev week inv Req…
Q: Mavis and John have joined forces to start M&J Food Products, a processor of packaged shredded…
A:
Q: The Kintampo Tourist Resort (KTR) is one of Ghana’s best holiday centers and sells a special type of…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: The planner at a company that makes garden tractors is about to prepare an aggregate production plan…
A: Disclaimer-Since you have asked multiple question we will solve the first question for you. If you…
Q: Prepare a master schedule given this information: The forecast for each week of an eight-week…
A:
Q: Santizit, Inc. produces a constant supply of hand sanitizer bottles (adjusted for seasonality) to…
A: Economic order quantity is a method by which we identify the optimal ordering quantity based on…
Q: The cost per equivalent unit for conversion costs for the first department for the month is closest…
A: Conversion cost is the cost that is used to convert the direct material into the product.
Q: Management and forecasting of capacity is of greatest importance during which Product Life Cycle…
A: The item life-cycle is a significant device for advertisers, the executives and planners the same.…
Q: Hotel Galway is a 50 room Boutique hotel in a pop-ular city break destination in Ireland. Until…
A:
Q: QtyI Standard Labor Hour Raw Material Standard Labor 2 Hours Raw Material INDEPENDENT DEMAND Period…
A: Note: I have answered for 15th question. Kindly post another question separatelyDetermine the…
Q: Mr. Zulhakim being assigned by his manager to develop their production planning for Year 2022. Table…
A: Available to promise: For 1st period = (MPS + Beginning inventory)-(sum of customers order till…
Q: Crystal Clear Health Drinks: A health drink production company, Crystal Clear Health Drinks,…
A: Since you have submitted multiple questions, as per guidelines we have answered the first question…
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: 2. Technical and Management Feasibility Cost per month Raw Material Quantity Technical feasibility…
A: Machinery and equipment Purchase cost Life Span Depreciation Computer - Laptop or Desktop…
Q: Ouesten 25 Question 18 A company faces the aggregate planning problem shown in the table below Cost…
A: Since it is given that the plant operates 7 days a week means it works all days. The number of units…
Q: e plan to meet this demand given this additional information: A level production rate of 1000 units…
A: Given that: Production Cost $20 Inventory Holding Cost $1 Backorder Cost $8 Initial…
Q: CVP Analysis with Income Taxes Cohen Company produces and sells socks. Variable cost is$6 per pair,…
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…
Q: Substitue for Mandatory problem #2 on exam in attachment )-Calculate the Tracking Signal(RSFE/MAD t)…
A: Forecasting is the process of predicting the future demand based on previous data or information.
Q: Develop an aggregate plan that matches the forecast and compute the total cost of your plan. Regular…
A: Aggregate planning refers to the “big picture” approach involved in planning, wherein the aggregate…
Q: The PPS Company assembles home air conditioning units for the local market. The projected demand…
A: Given Data: Month Workdays Demand January 21 1800 units February 19 2465 units March 20 3622 units…
Q: What is the 3-month simple moving average for February 2017, given that demand was 100 during…
A: The 3-month simple moving average for February 2017 = (Demand…
Q: sing the same data above, compute for the WMA using the below weights. Compute for the MAD, MSE and…
A: Forecasting can be done by many methods. Some of them are a simple moving average method, weighted…
Justify the use of the weighting system used for evaluating managers for annual bonuses. |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 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?Case Exercise 3: Demand Forecasting for an Insurance CompanyObservations Actual Data Forecast 1 240 192.39 2 207 202.15 3 168 189.27 Calculate MAD, MSE, MAPE & U All calculations are supposed to be done by hand, not on Excel. Here is the formula sheet
- Daily demand for newspapers for the last 10 days has been as follows: 12, 13, 16, 15, 12, 18, 14, 12, 13,15 (listed from oldest to most recent). Forecast sales for the next day using a three-day weighted moving average where the weights are 3, 1, and 1 (the highest weight is for the most recent number). Sample paper answers: 1) None of the provided options.2) 13.03) 12.84) 70.014.0What are the disadvantages and advantages of moving average technique and simple exponential smoothing?On Week a) Item: P24 hand 1 2 3 4 5 6 7 8 Forecast 30 30 30 40 40 40 45 45 Customer Orders 13 8 4 PAB 20 Available to Promise MPS b) Determine if each customer order will be accepted. Order Amount Week Accept (Y/N) 1 40 2 30 3 4 30 25 462M 3 Update the MPS time-phased record for accepted orders. Item: P24 Forecast Customer Orders Problem 3: The MPS planner at Murphy Motors uses MPS time-phased records for planning end-item production. The planner is currently working on a schedule for the P24, one of Murphy's top-selling motors. The planner uses a production lot size of 70 and a safety stock of 5 for the P24 motor. a) Complete the MPS time-phased record for product P24. Use the table on the left. b) Determine if Murphy Motors can accept each of the following customer orders. Update the MPS time- phased record for accepted orders. Order 1234 Amount 40 Desired Week 4 30 30 25 623 8 4 On Week hand 1 2 3 4 5 6 30 30 30 40 40 40 74 45 45 PAB 20 Available to Promise MPS On hand = 20
- Forecast February by: Arithmetic Average Weighted moving average, weights are 8 and 2. Which method is better based on MFE PERIOD Demand Sept. 60 Oct. 50 Nov. 60 Dec. 70 Jan. 60 Feb. ?Month Jan Feb Mar fn Apr May Jun التحكم control option 7.8 8.1 8.1 8.1 8.0 8.0 12 الأوامر Activity No. 3 vo bepnarlo asi sta noitsiini srl worladi The following data represents the monthly unemployment rates for a count in 2012. Prepare and correctly label a line graph to show these figures an then answer the questions below a-f. Unemployment Rate % h command Month Jul Aug Sep Oct Nov Dec Unemployment Rate % 8.7 9.1 8.4 8.8 8.9 8.9 JIMVY Trianon الأوامر 1 command 4 . a) Describe how the unemployment rate has changed over the year. b) What month/s had the highest unemployment rate and what was it? c) What month/s had the lowest unemployment rate and what was it? d) What month had the biggest increase in unemployment from the previous month? e) What month had the smallest increase in unemployment from the previous month? f) Calculate the average unemployment rate for the year. di lliw jadw x10B. The number of disk drives (in millions) made at a plant in China during the past 5 years follows: Year Disc Drives 1 140 160 3 190 4 200 5 210 i. Forecast the number of disk drives to be made next year, using linear regression.
- Article: Planning for Holiday Shipping at FedEx FedEx started as Federal Express in 1971 and made its first delivery in 1973 with 14 aircrafts and 389 employees, successfully delivering 186 packages.50 The company was founded by Frederick W. Smith who first presented his idea for the shipping company in a term paper for a business class at Yale University in 1964. Smith did not do well on the paper as his professor did not see the need for overnight package deliveries. But more than 45 years later, Smith has clearly proved his professor wrong. FedEx now employs more than 325,000 employees and uses its 652 aircraft and more than 100,000 trucks to ship on average 10.5 million packages a day in over 220 countries. Managing such a large enterprise with so much complexity clearly requires effective planning. Similar to other shipping companies, FedEx engages in significant planning to prepare for Christmastime deliveries, the company’s peak season. FedEx typically meets with major…Define Time Series Analysis? how is it used?A) Forecast demand again with a weighted moving average in which sales in the most recent year are given a weight of 2 and sales in the other 2 years are each given a weight of 1. YEAR DEMAND FOR FERTILIZER (1,000S OF BAGS) 1 4 2 6 3 4 4 5 5 10 6 8 7 7 8 9 9 12 10 14 11 15