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The moving-average forecast is very helpful in many industries in smoothing out demand. We use this method for some of our piece parts that are used in many different products. We want to try and order the same quantity each month and this forecast type is the best method for doing this. If we have a sudden spike in the number used, this irregularity will smooth out.
WHAT ARE YOUR THOUGHTS? EXPLAIN
Discuss at least three reasons why simply examining a country's per capita GDP and its population doesn't necessarily lead to a good estimate for potential demand.
You are expected to provide a minimum of two to three paragraphs for each of the three critical elements, which include: current management planning, employee’s perception and organizational culture, and communication. The company is Toyota.
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Charles Cycles produces bicycles and tricycles. The setup cost when switching production from one to the other is $1,400. On average, retail customers order 190 tricycles per day (consider a 250-day year). What should the production order quantity be..
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