Reference no: EM13792211
The forecasting department, traditionally reporting to the sale manager, has historically seen a forecast accuracy of about 60%, and this in turn causes problems for the following departments:
Purchasing: What should we buy and how much?
Production: What should we really build?
Inventory management: We keep building the wrong thing.
The sales manager asked you to write her a memo, specifically addressing the following:
How could you suggest that your new system would achieve any better levels of forecast accuracy?
Why is forecast accuracy itself not as important under traditional methods?
Create a chart or timeline that includes all of the following:
Which purchase orders have to be placed, and when
When manufacturing needs to begin, to have products delivered to a customer
Approximate dates for all of the following:
When the product must be shipped to meet the customer's due date
When the application of the cover and packaging must take place to meet the customer's due date
When the manufacturing of the widget must begin and end
When the raw material for the widget must be ordered
When the plastic cover must be ordered
When the cardboard box must be ordered
Includes notes explain your timing calculation
Assumes all of the following conditions:
The factory has two departments: manufacturing and packaging
Product X consists of 3 components
a widget manufactured in the factory with a total manufacturing lead time of 1 week
a plastic cover purchased from vendor A with a procurement lead time of 3 weeks
a cardboard shipping box purchased from vendor B with a procurement lead time of 4 weeks
The widget itself is made from steel (whose lead time from vendor C is 4 weeks).
It takes 1 day for the cover to be applied to the product and for the product to be inserted in the box in the packaging department.
The shipping time to this customer is in 3 weeks, and you do not want it to be late or early.
Assume you received the customer order on 1/1/20XX.
Ignore any holidays
Record the entry to close revenue earned to income summary
: Record the entry to close revenue earned to income summary. Record the entry to close all expense accounts to income summary. Record the entry to transfer net income earned in 2015 to the retained earnings account.
|
Financial statements prepared on entitys income tax basis
: When an auditor reports on financial statements prepared on an entity’s income tax basis, the auditor’s report should:
|
Construct a cost volume profit chart
: For the coming year, loudermilk inc. anticipates fixed costs of $600,000 a unit variable cost if $75 and a unit selling price of $125. the maximum sales within the relevant range are $2,500,000. construct a cost volume profit chart. estimate the brea..
|
Compute the current break even sales
: Currently the unit selling price of a product is $125, the unit variable cost is $105, and the total fixed costs are $460,000. a proposal is being evaluated to increase the unit selling price to $130. compute the current break even sales (units) comp..
|
System would achieve any better levels of forecast accuracy
: How could you suggest that your new system would achieve any better levels of forecast accuracy. Why is forecast accuracy itself not as important under traditional methods
|
Simplex method for the problem to find the optimum solution
: Use the simplex method for the problem to find the optimum solution
|
Determining the golf cart price
: Rory has $2,500 but needs $5,000 to purchase a new golf cart. If he can invest his money at a rate of 12% per year, approximately how many years will it take the money in Rory's account to grow to $5,000? Use the Rule of 72 to determine your answe..
|
Definition of section 377a of the penal code
: Definition of Section 377A of the Penal Code. Issues (moral, ethical, social and etc) surrounding Section 377A of the Penal Code
|
Example of technological innovation
: Give an example of technological innovation from the last two decades. What forces led to the commercialization of the science behind the technologies? Did the capability exist before the market demand or was the demand there before the technology..
|