Q3. After graduating from college, Rachel and Payton start selling birdhouses made from recycled plastic. The idea has caught on, as shown by the following sales figures:
Month |
Demand |
March |
2200 |
April |
2240 |
May |
1790 |
June |
4270 |
July |
3530 |
August |
4990 |
a. (3pts). Develop a forecast model for June through September by using an adjusted exponential smoothing model with α=0.5 and β=0.3. Assume that the unadjusted forecast (Ft) for May was 2,000 and the trend factor (Tt) for May was 700.
Month |
Unadjusted exponential smoothing model |
Trend factor (Tt) |
Adjusted exponential smoothing model |
March |
|||
April |
|||
May |
2000 |
700 |
|
June |
|||
July |
|||
August |
|||
September |
B (3 pts). Calculate the tracking signals for periods June through August.
Actual demand |
Adjusted exponential smoothing model |
Forecast error |
Absolute deviation |
i=1nFEi |
MAD |
Tracking signal |
|
June |
4270 |
||||||
July |
3530 |
||||||
August |
4990 |
In: Operations Management
As a Compliance Officer, you are considered a leader in your organization. How can you contribute to making the employees feel safe? Please respond in terms of your compliance course materials.
In: Operations Management
International Codes:
•The best starting point in the further development of standards for international business is self-regulation by business within the guidelines and standards that already exist.
•The UN Global Compact with business was proposed by the UN secretary-general in January 1999.
•The Compact challenges business to work with other companies, UN agencies, and nongovernmental organizations (NGOs) to support and implement ten basic principles stated in the Compact.
• The basic principles deal with respecting human rights, labor standards, protecting the environment, and eliminating corruption.
•
•The ILO is a specialized agency of the UN that has set up principles governing labor standards.
•The Caux Principles were launched in 1995.
•These principles emerged from a series of dialogues among a group of European, Japanese, and American firms.
•The principles are rooted in two basic principles:
–the Japanese principle of kyosei (working together for the common good); and
–the Western notion of the dignity and value of each human person as an end and not simply as a means to be used by others.
THE QUESTION IS : Talk more about it and the role of multinational corporations with giving examples .
In: Operations Management
Processing new accounts at a bank is intended to average 10 minutes each. Five samples of four observations each have been taken. Use the sample data below, construct a X-bar and a R (range) chart.
Sample 1 |
Sample 2 |
Sample 3 |
Sample 4 |
Sample 5 |
||
10.2 |
10.3 |
9.7 |
9.9 |
9.8 |
||
9.9 |
9.8 |
9.9 |
10.3 |
10.2 |
||
9.8 |
9.9 |
9.9 |
10.1 |
10.3 |
||
10.1 |
10.4 |
10.1 |
10.5 |
9.7 |
||
Total |
40 |
40.4 |
39.6 |
40.8 |
40 |
|
Mean |
10 |
10.1 |
9.9 |
10.2 |
10 |
X= 10.4 |
Range |
0.4 |
0.6 |
0.4 |
0.6 |
0.6 |
R= 0.52 |
Mean : 10.0+10.1++9.9+10.2+10/5=10.4
Range : 0.4+0.6+0.4+0.6+0.6+0.6/5=0.52
In: Operations Management
Discuss a real life example of a business process and explain how the knowledge processes are embedded in the business process. Hence, comment on the effectiveness for ONE of the knowledge processes as identified in the example and propose a knowledge management system (KMS) to improve it.
In: Operations Management
What does Tesla need in order to execute their plan
selling their cars direct to the customer.
What resources do they need?
How would they do it?
Explain in your own words.
In: Operations Management
In: Operations Management
What do you think about my thought?
Based on my personality I learn best as a visual learner. The reason why I am a visual learner is because I like to see information and how the relationships are tied together between ideas. I learn best by watching or reading demonstrations. When studying I like to do so in quiet areas with little to no disturbance which is why nights work best for me (kids are in bed sleeping). I also like live presentations where you can questions to get clarifications that might not be so clear. I also learn well when many examples or real life situations are use to bring the point home.
I do believe you can missing learning somethings if the information is not properly presented. I also miss things if presenter is boring with their delivery or if they are distracting in their delivery.
In: Operations Management
What is the purpose of the Product Life Cycle? Identify and explain the four stages of the product life cycle. In your response, be sure to include an indication of how sales, profits, product, price, promotion and place change with each stage. Explain what marketers can do to extend the length of the product life cycle? Provide examples to showcase your ideas.
In: Operations Management
What are the key aspects of health and safety legislation?
In: Operations Management
I only need question C answered, but I provided the rest of the worksheet to use as reference in order to do so.
Q1. Jamie wants to forecast the number of students who will enroll in operations management next semester in order to determine how many sections to schedule. He has accumulated the following enrollment data for the past six semesters:
SEMESTER |
STUDENTS ENROLLED IN OM |
1 |
270 |
2 |
310 |
3 |
250 |
4 |
290 |
5 |
370 |
6 |
410 |
a (2 pts). Compute a three-semester moving average forecast for semesters 4 through 7 (Model a) (Use two decimals).
SEMESTER |
Three-semester moving average forecast for semesters 4 through 7 |
1 |
- |
2 |
- |
3 |
- |
4 |
|
5 |
|
6 |
|
7 |
b (3 pts). Compute the exponentially smoothed forecast (α = .20) for semesters 1 through 7 (Model b) (Use two decimals).
SEMESTER |
Exponentially smoothed forecast (α = .20) for semesters 1 through 7 |
1 |
|
2 |
|
3 |
|
4 |
|
5 |
|
6 |
|
7 |
c (3 pts). Compare the two forecasts using MAD and indicate the most accurate.
MAD (model a) =
MAD (model b) =
In: Operations Management
The workers at Olisur Olive Oil Factory, work four days a week, 15 hours a day. Each day of the week, at least the following numbers of workers are needed: on weekdays 105 workers per day; on weekends 45 workers per day. There are 165 workers in the factory. Formulate a linear programming model that will reveal a schedule for the workers to maximize the sum of their consecutive days off (define decision variables; indicate objective function, constraints, and sign restrictions, if any).
Hint: A worker, who is not scheduled to work on Wednesdays, Thursday and Friday has 3 consecutive days off. If a worker is not scheduled to work on Mondays, Wednesdays, and Sundays, then s/he has 2 consecutive days off (Sunday & Monday); but if s/he is not scheduled to work on Tuesday, Thursday, and Saturday, then that worker has no consecutive days off.
In: Operations Management
1. Based on a company you know, provide ONE real life example of
related pieces of data, information and knowledge, and discuss how
one is incorporated into the next. Briefly explain your
answer.
In: Operations Management
Q1. Jamie wants to forecast the number of students who will enroll in operations management next semester in order to determine how many sections to schedule. He has accumulated the following enrollment data for the past six semesters:
SEMESTER |
STUDENTS ENROLLED IN OM |
1 |
270 |
2 |
310 |
3 |
250 |
4 |
290 |
5 |
370 |
6 |
410 |
a (2 pts). Compute a three-semester moving average forecast for semesters 4 through 7 (Model a) (Use two decimals).
SEMESTER |
Three-semester moving average forecast for semesters 4 through 7 |
1 |
- |
2 |
- |
3 |
- |
4 |
|
5 |
|
6 |
|
7 |
In: Operations Management
Tastee Mart sells Frostee Flakes. Demand for Frostee Flakes is
500 boxes per week. Tastee
Mart has a holding cost of 30 percent and incurs a fixed cost of
$100 for each replenishment
order it places for Frostee Flakes. Given that cost is $2 per box
of Frostee Flakes, i) how
much should Tastee Mart order in each replenishment lot? ii) If a
trade promotion lowers the
price of Frostee Flakes to $1.80 (d=$0.2) for one month, how much
should Tastee Mart order
given the short-term price reduction? iii) What will be the forward
buy? iv) For how many
periods will the forward buy be enough? V) What will be the cycle
inventory over these
periods?
In: Operations Management