Display the demand data, Operation Management

Assignment Help:

The demand for a product for the past 30 periods is shown below. Determine the reorder point, R, and order-up-to-level, S, for this product for the next 6 periods (periods 31-36). Use the following instructions/information.

Plot the demand data. What types of forecasting models would be appropriate for this demand pattern? The lead time is 2 periods. Use fixed ordering cost of $80/order and inventory holding cost of $1.75/unit/period. Forecast the demand for this product in Minitab using Double Exponential Smoothing with smoothing constants of ? = 0.20 and ? = 0.20 (use Minitab to generate forecasts). Calculate the standard deviation of the one-period-ahead forecast error using the most recent n=8 periods (use Minitab to generate one-period-ahead forecasts).

a) Determine the reorder points, R, and order-up-to-levels, S, for the next 6 periods using a probability of no stockout (Type-1 service) of 0.98.

b) Determine the reorder points, R, and order-up-to-levels, S, for the next 6 periods using a fill rate (Type-2 service) of 98%.


Related Discussions:- Display the demand data

Explain how these factors would affect the management, There are a number o...

There are a number of factors that affect the expansion of a multinational firm, including macroeconomic, political, regulatory, cultural, and social. Choose one multinational orga

Explain the employer-sponsored sales process, Describe the employer-sponsor...

Describe the employer-sponsored sales process? What is the goal of this process once it is completed? Why is accreditation important?

Explain benefits of free international trade, What are the benefits and dis...

What are the benefits and disadvantages of free international trade for the United States? Examples would be helpful also.

Describe the differences between a 3rd party beneficiary, Explain the diffe...

Explain the differences between a 3rd party beneficiary and a 3rd party assignee. Why are assignments of contracts so important for our free enterprise economy?

Describe imagine that you are the release that might result, Search the new...

Search the news for a current event/ issue/ crises a company is dealing with today. Imagine that you are the release that might result in a favourable article. Follow the format su

Explain the various classifications of stakeholders, An Organization: Its M...

An Organization: Its Mission and Strategic Intent In this assignment, you will decide on a company's strategic intent, its mission, and the role of stakeholders in developing an

Explain what do your contingency plan, What do your contingency plan in cas...

What do your contingency plan in case your plan of action doesn't work?

Explain appraisal process for your department, For this discussion, let us ...

For this discussion, let us put you in the department director chair, nursing director, lab director, radiology director, respiratory therapy director, or whichever hat fits best.

What decision management business intelligence missing piece, Please read t...

Please read through the question, then answer each item of my question to get full points. Review the following short article by visiting the link below then answer the question

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