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Harlen Industries has a simple forecasting model: Take the actual demand for the same month last year and divide that by the number of fractional weeks in that month. This gives the average weekly demand for that month. This weekly average is used as the weekly forecast for the same month this year. This technique was used to forecast eight weeks for this year, which are shown below along with the actual demand that occurred. The following eight weeks show the forecast (based on last year) and the demand that actually occurred: WEEK FORECAST DEMAND ACTUAL DEMAND 1 130 127 2 132 123 3 140 145 4 140 155 5 130 175 6 140 165 7 155 180 8 165 200 a. Compute the MAD of forecast errors. (Round your answers to 2 decimal places.) Week MAD 1 2 3 4 5 6 7 8 b. Using the RSFE, compute the tracking signal. (Round your answers to 2 decimal places. Negative values should be indicated by a minus sign.) Week Tracking Signal 1 2 3 4 5 6 7 8 c. Based on your answers to parts a and b, comment on Harlen’s method of forecasting. The forecast should be considered poor. The forecast should be considered good.
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
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Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
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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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