Reference no: EM13826573
1, Given the following production plan, use a (a) chase production strategy and (b) level production strategy to compute the monthly production, ending inventory/(backlog) and workforce levels. A worker is capable of producing 100 units per month. Assume the beginning inventory as of January is zero, and the firm desires to have zero inventory at the end of June.
| Month |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
| Demand |
2000 |
3000 |
5000 |
6000 |
6000 |
2000 |
| Production |
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| Ending Inventory |
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| Workforce |
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2. Given the following production plan, use a (a) chase production strategy and (b) level production strategy to compute the monthly production, ending inventory/(backlog) and workforce levels. A worker can produce 50 units per month. Assume that the beginning inventory in January is 500 units, and the firm desires to have 200 of inventory at the end of June.
| Month |
Jan |
Feb |
Mar |
Apr |
May |
Jun |
| Demand |
2000 |
3000 |
5000 |
6000 |
6000 |
2000 |
| Production |
|
|
|
|
|
|
| Ending Inventory |
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| Workforce |
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3. The owner of the chocolate outlet store wants to forecast chocolate demand. Demand for the preceding four years is shown in the following table:
| Year |
Demand (pounds) |
| 1 |
68800 |
| 2 |
71000 |
| 3 |
75500 |
| 4 |
71200 |
Forecast demand for Year 5 using the following approaches: (1) a three-year moving average; (2) a three-year weighted moving average using, 40 far Year 4, .20 for Year 3 and 40 for Year 2; (3) exponential smoothing with a = .30, and assuming the forecast for Period 1 = 68,000.
4. Forecasts generated by two forecasting methods and actual sales are as follows:
| Month |
Sales |
Forecast 1 |
Forecast 2 |
| 1 |
269 |
275 |
268 |
| 2 |
289 |
266 |
287 |
| 3 |
294 |
290 |
292 |
| 4 |
278 |
284 |
298 |
| 5 |
268 |
270 |
274 |
| 6 |
269 |
268 |
270 |
| 7 |
260 |
261 |
259 |
| 8 |
275 |
271 |
275 |
Compute the MSE, the MAD, the MAPE, the RSFE and the tracking signal for each forecasting method. Which method is better? Why?
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Explain the functions roles and activities of managers
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