Different steps needed for proper decision making, Operation Management

Assignment Help:

Quesrion:

Oceania Hospitals has recorded demand for heart transplant surgery over the past few years. The data is given in the following table:

1772_Different steps needed for proper decision making.png

a) You have been hired as consultant to advise Oceania Hospitals. You are explaining to Oceania Hospitals the necessity of having an analytical and scientific framework with several systematic steps. Can you describe the different steps needed for proper decision making?

b) When Oceania Hospitals started operations 6 years ago a consultant has predicted that the demand in year 1 would be 41 surgeries. Use exponential to develop forecasts for years 2 through 6 with a constant of (i) 0.6 and (ii) 0.9

c) Use a 3-year moving average to forecast demands in years 4,5 and 6.

d) What smoothing constant would you choose to get results similar to the 3-year moving average?

e) Compute the MAD for each of the three methods above for years 1 to 5. Which method would you recommend?

f) What forecast will you make for year 6?


Related Discussions:- Different steps needed for proper decision making

Explain what are your alternatives and the pros and cons, Your company has ...

Your company has assigned one of its vice presidents to function as your project sponsor. Unfortunately, your sponsor refuses to make any critical decisions, always "passing the bu

Explain what do you think are the company''s values, Identify a company wit...

Identify a company with a visible organizational culture. Learn as much as you can about that company's culture, using library resources, online sources, contacts within the compan

Explain the need for management to motivate their employees, Problem 1: ...

Problem 1: Team working is gaining importance in modern organisations. Do you agree that all members of an organisation could be expected to be team players? Discuss with exa

Describe the lewin''s change process, Question 1: Change is often resis...

Question 1: Change is often resisted because of the uncertainty and ambiguity it creates, the concern that it might not be in the organisation's best interest. (i) Discuss

Define personal selling techniques be applied at target, How can personal s...

How can personal selling techniques be applied at target? Provide specific examples to support your response.

Compute a schedule using least-total-cost lot sizing, Brunswick, read an ar...

Brunswick, read an article on time-phased requirements planning. He was curious about how this technique might work in scheduling Brunswick's engine assembly operations and decided

Defend your choice and discuss the strategy, Pick a product that you believ...

Pick a product that you believe would be beneficial for line extension. Justify your choice and discuss the strategy you would adopt for the new product

List the type of business you are managing, Our text defines the four funct...

Our text defines the four functions of a management as Planning, Organizing, Leading and Controlling. Briefly put, the plan states the desired outcome or goal and the process for

Explain what is the optimal solution, Kentwood Electronics manufactures thr...

Kentwood Electronics manufactures three components for stereo systems: CD players, tape decks, and stereo tuners. The wholesale price and manufacturing cost of each item are: Compo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd