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Forecasts and actual sales of MP3 players at Just Say Music are as follows:
Month Forecast Actual Sales
March 150 170
April 220 229
May 205 192
June 256 241
July 250 238
August 260 210
September 270 225
October 280 179
Plot the data and provide insights about the time series. (Use Microsoft Excel and attach the time series graph)
What is the forecast for November, using a two-period moving average?
What is the forecast for November, using a three-period moving average?
Compute mean square error (MSE) for the two- and three-period moving average models and compare your results.
Find the single exponential smoothing model by evaluating the MSE for Alpha 0.5. How does this model compare with the best moving average model found in 2d?
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An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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