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Question 1.
The owner of a Chocolate Outlet Store wants to forecast chocolate demandDemand for the preceding 4 years is shown in the following table:
Year
1
2
3
4
Demand (Kilograms)
69,000
71,500
74,900
70,800
Forecast demand for Year 5 using the following approaches:
(1) A three-year simple moving average(2) A three-year weighted moving average using 0.35 for Year 4, 0.30 for Year 3, and 0.35 for Year 2.(3) Simple exponential smoothing with α = 0.35 and assuming the forecast for Period 1 = 69,000
Question 2. What key factors need to be considered in supply chain integration and how can risk mitigation help increase security?
Question 3. In two consecutive years a warehouse had the following characteristics.
Year 2014
Year 2015
Weight of materials moved
6000 tonnes
7000 tonnes
Number of orders satisfied
1750
1930
Number of stockouts
91
60
Average inventory value stocked
$256,500
$293,000
Cost of administration
$65,000
$77,000
Hours worked
13,000
16,000
Direct costs
$120,000
$180,000
Energy used
22,000kWh
25,000kWh
Energy cost
$3,000
$4,000
Based on the information above - what can you say about its performance?
What key factors need to be considered in supply chain integration and how can risk mitigation help increase security - Based on the information above - what can you say about its performance?
Which production strategy should the production managers choose based on a total cost minimisation objective and what information about this aggregate plan should be shared with various supply chain partners and why?
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