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 about figuring out what your startup costs will be, Let's switch ge...

Let's switch gears and take a look at starting your own business, instead of buying an existing one. When you think about starting a brand new business, you need to know how much y

Describe what opportunities exist, What are Google's key resources and comp...

What are Google's key resources and competitive capabilities? What competitive liabilities and resource weakness does it have? What opportunities exist? What threats to its continu

Decreasing value a demerit of reducing project scope, Why is decreasing val...

Why is decreasing value a disadvantage of reducing project scope to accelerate a project?

Explain team meetings can be helpful, Team meetings can be helpful. Interor...

Team meetings can be helpful. Interorganizational conflict is conflict that arises across organizations. What are sources of conflict?

Explain international monetary fund, After reading your assigned readings o...

After reading your assigned readings on international monetary policy in this unit, visit the global beverage company of your choice. Note the number of different countries that th

Explain how many units are needed to break, A manufacturing process has a f...

A manufacturing process has a fixed cost of $150,000 per month. Each unit of product being produced contains $25 worth of material and takes $45 of labour. How many units are neede

Explain what is authentic leadership, What is authentic leadership? Why do ...

What is authentic leadership? Why do ethics and trust matter to leadership?

Motivation, w What steps can an organisation take to increase the motivati...

w What steps can an organisation take to increase the motivational force for high levels of performance?

Describe the role of ethics and social responsibility, Explain the role of ...

Explain the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs. Explain how your ethical perspective has evolved throughout t

Explain the ordering of the purchasing department, Q. Explain the ordering ...

Q. Explain the ordering of the purchasing department? Ordering is the responsibilities of a purchasing department: a. Negotiating along with suppliers b. Placement of ord

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