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 introduction to optimum design, Why are there no solutions for Intr...

Why are there no solutions for Introduction to Optimum Design textbooks?

Why knowledge is vital supervisor''s tactical planning, Why should a first-...

Why should a first-line supervisor understand the organization's objectives? Why is this knowledge important to the supervisor's tactical planning?

Explain socially responsible company, In light of these actions, can GM sti...

In light of these actions, can GM still be a socially responsible company? If so, how?

Explain before formalizing the foreign relationships, Many entrepreneurial ...

Many entrepreneurial organizations have established partnerships in other countries (i.e., Toyota in the United States, Nike in Thailand, etc.). What do entrepreneurial organizatio

What is the objective under jit and time-based competition, _____ is the ob...

_____ is the objective under JIT and time-based competition. WIP reduction Material velocity Lead-time reduction Decreasing material wait time

Explain an in-n-out pay strategy, An In-N-Out Pay Strategy: Costa Vida's De...

An In-N-Out Pay Strategy: Costa Vida's Decision to Boost Pay

Steps in layout planning and design, Steps in Layout Planning and Design ...

Steps in Layout Planning and Design For a given product at a stated volume of production a process most appropriate must be determined. The process that is determined like any

Explain what is resource levelling, Answer the following questions: 1) ...

Answer the following questions: 1) What is resource over allocation? 2) What is resource levelling? 3) Under what circumstances would you want to manually reso

Describe does anyone have a screenshot of page, Does anyone have a screensh...

Does anyone have a screenshot of page 91 so that I can do question 3.14? My book has not come in yet and the eBook trail that I have been using does not have that question in it. I

Explain google''s customer value proposition, Describe Google's customer va...

Describe Google's customer value proposition and profit formula linked to its business model. What strategies has Google relied upon to build competitive advantage in the industry?

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