When Mikayla decided to open a café, she had to decide how much seating she should have in her café so she could rent a large enough space. In order to figure this out, she had to estimate the demand she might have, that is, how many customers she would likely have based on her products and location. Mikayla was: Group of answer choices a) Forecasting b) Production planning c) Managing operations d) Marketing
Q: How strategic management helps an organisation in the achievement of Organisational objectives ?
A: The proper management of a company's resources is essential to achieving its goals and objectives.…
Q: Briefly define the role of cGMP in the Quality Control (QC) unit in the pharmaceutical industry,…
A: CGMP stands for Current Good Manufacturing Practice. CGMP are a set of guidelines formed by Food and…
Q: Prior to conducting double exponential smoothing a simple linear regression is conducted and the…
A: Double exponential smoothing computes a trend equation through the data using a special weighting…
Q: Five welding jobs are waiting to be processed. Their processing times and due dates are given below.…
A: Under FCFS rule of dispatching, jobs are processed in the same order as of their arrival. In other…
Q: a) What is the economic order quantity? 306 units (round your response to the nearest whole number).…
A: As per Bartleby guidelines, we can only solve the first three subparts of one question at a…
Q: does Disney have any offices or team working in Canada or are required to have Canadian content to…
A: The Walt Disney Company is also alternatively known as "Disney". It is a multinational mass media…
Q: Can you provide a snapshot pic of the Solvertable input to show how you came to the answers in part…
A: a.
Q: Annual demand for the notebook binders at Duncan's Stationery Shop is 10,000 units. Dana Duncan…
A: Reorder point is the the inventory level which seller place an order for supplier to replenish the…
Q: Bias is a synonym for Mean Absolute Deviation.
A: The mean absolute deviation of the samples is the biased estimator of the population. To get an…
Q: Which of the following is NOT an element of marketing mix? (a) distribution (b) product (c) pricing…
A: Explanation : Target market is not an element of marketing mix. A target market refers to the group…
Q: Using trend projection, develop a formula to predict sales for years 11 and 12. You have to show all…
A: Slope b=(n∑xy-∑x∑ y)/(n∑ x^2- (∑ x)^2) Intercept a=(∑ y-b∑ x)/n Equation y = a+bx Where y= TV sales…
Q: , schedule, and control a wide variety of projects. List the four projects according as they appear…
A: In essence, CPM and PERT are project management methodologies that were developed by Western…
Q: Terex Corporation is a global manufacturer of aerial work platforms and materials processing…
A: Inventory is a necessary evil. Keeping too much and too less of it leads to financial consequences.…
Q: Wichita's famous Sethi Restaurant is open 24 hours a day. Servers report for duty at 3 A.M., 7 A.M.,…
A: X1 be the number of workers reporting to work at 3 am and work till 11 am X2 be the number of…
Q: Importance of Quality control and Quality assurance for the national and international…
A: Quality control and quality assurance are important for national and international accreditation.…
Q: It takes an operator 1.60 minute to service a machine and 0.4 minute to walk to the next machine.…
A: Operator Time = 1.60 minutes Walking time = 0.4 minutes Machine run time = 6 minutes Operator earns…
Q: State the value that the operations manager would add in an organization
A: Operation manager - The role of operation manager is to manage all the activities which involves…
Q: How long will you be standing in line before you are able to place your order?
A:
Q: Briefly elaborate the importance of Quality Assurance department for the national and international…
A: Quality assurance is an important part of the organization. Accreditation is the process of…
Q: Mr. John produces a special type of shoes on an assembly line. The process involves eight different…
A: Necessary information: The following information is required to balance the assembly line. these are…
Q: Fully discuss any five (5) costs prevalent in aggregate planning at Jaguar.
A: Aggregate planning is the overall manufacturing plan that helps uninterrupted production process in…
Q: a) Which investment level should the marketing department choose if they are extremely optimistic…
A: NOTE: We are allowed to do the first three sub-parts only. Optimistic decision-making is a method…
Q: Role of cGMP in the Quality Control unit in the pharmaceutical industry please define this…
A: Quality if the utmost priority in pharmaceutical products as they are directly related to health. To…
Q: Mr. John produces a special type of shoes on an assembly line. The process involves eight different…
A: Necessary information: The following information is required to balance the assembly line. these are…
Q: PLEASE SHOW HOW TO DO THIS WITH EXCEL. Construct and solve a linear optimization model that defies…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Design a transportation plan with minimum costs in piecekilometers (pkm) and calculate the…
A:
Q: Calculate the Mean Squared Error for the following data: Actual 93 88 96 102 Forecast 87.6 88.2…
A: The mean squared error is a measure of the accuracy of a statistical forecast. Mean squared error…
Q: A large global automobile manufacturer is considering outsourcing the manufacturing of a solenoid…
A: 1 million = 1000000 For in house manufacturing Fixed cost = $6.7 million or 6,700,000 Variable…
Q: Develop a decision tree for this problem and determine the optimal decision strategy.
A: A decision tree is the analysis of the options that are to be considered or chosen to take the…
Q: Operations management is a process that uses resources to transform inputs into outputs. Explain the…
A: Operations is a very important part of any business. It consists of all the activities related to…
Q: Table below is a time-phased net requirements for Widgets over the next six weeks. Week 1 5…
A: Find the Calculation methods below: Total cost (Period 1) = Setup costTotal cost (Period 2) = Setup…
Q: Customers filter into a record shop at an average of 1 per minute (exponential interarrivals) where…
A: The formula to calculate this in a multiple-server case is as follows: Ls=Lq+λμ
Q: s, fixed order cost per order is $100, each =), what should be the safety stock value?
A: The term “safety stock” has been used to describe inventory that is held in reserve for a variety of…
Q: K Southeastern Bell stocks a certain switch connector at its central warehouse for supplying field…
A: Economic order quantity is essential for businesses for buying and holding inventory for productiin…
Q: Terex Corporation is a global manufacturer of aerial work platforms and materials processing…
A: Inventory: In every business inventory management is very essential and business…
Q: Discuss the role of the Literature Review in a scholarly article. What is it? Why are writing…
A: The goal of a literature review is to increase understanding of current research and conversations…
Q: Fearless Inc. has designed and tested 400 Super Sucker Vacuum Cleaner models. All of them were…
A: Total working time =400*1000 = 400000 Total breakdown time = 900+500 =1400 Total breakdown incidence…
Q: Consider the following transportation decision-making information: Plant Capacity Store Demand…
A: Given data:
Q: ment strategy is irrelevant because market forces will always dictate where the balance of power is…
A: The phrase "procurement strategy" describes a long-term plan to forge strategic ties with rival…
Q: (i)Formulate the linear Programming problem to get the maximum Financial returns. Advice…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: (a) What was their raw material and their labor productivity with the standard equipment? (b) What…
A: Productivity is the relationship between the volume of the input and output that is calculated in…
Q: business model for capitalizing value from not just products but also service offerings
A: USAA business model works in providing the below offerings: Claims Insurance Banking Investment…
Q: Discuss the following topic for the Google Inc. How pay benefits to motivate employee to perform…
A: Google is an American-based multinational company that has helped millions of people to ease the…
Q: 18hth must be at least 5 (the number TopLathes plus the number BigPresses must be a 5). All machines…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Complete the following MRP record. Note that the minimum order quantity is 200. What is the average…
A: Gross requirements are the actual requirement for that period. The scheduled receipt is the number…
Q: The Ace Manufacturing Company has orders for three similar products. Product A B C 1 2 Machine 3 A A…
A: (a)
Q: nventory Models that reorder items to a certain number of units : Fixed-time period model…
A: Ans) Inventory is very important to any business. It helps in protecting the firm from sudden jump…
Q: Assuming Normal Distribution, what would the optimal (s,Q) policy be for the given parameters below?…
A: This is called a continuous review policy. In this ordering policy, the order quantity is constant…
Q: Oakwood Hospital is considering using ABC analysis to classify laboratory SKUs into three…
A: Formulae used: To determine the Annual dollar usage: Annual dollar usage = Unit value × Demand
Q: Explain any two process technologies for materials
A: Process Technologies: Process technologies differ based on the nature of materials.…
When Mikayla decided to open a café, she had to decide how much seating she should have in her café so she could rent a large enough space. In order to figure this out, she had to estimate the demand she might have, that is, how many customers she would likely have based on her products and location. Mikayla was:
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. Ethical decisions that affect a buyers ethical perspective usually involve the organizational environment, cultural environment, personal environment, and industry environment. Analyze this scenario using these four variables.Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?
- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Forecasting Forecasting is important relative to capacity requirements planning. What are some of the merits of using judgment methods (i.e., qualitative data) in contrast to quantitative forecasting methods. Which methods are considered to be superior or more accurate, and in what forecast situations would require judgment methods? In what situations would require a quantitative approach to forecasting?
- The table below shows the sales of widgets (in units) over the past 5 years. Using exponential smoothing with a smoothing constant of 0.2, what is the forecast for next year? The initial forecast (for 5 years ago) was 1,200 units. Forecast: Time Sales 5 years ago 1,140 4 years ago 1,220 3 years ago 1,450 2 years ago 1,090 Last year 1,150 (Do not round intermediate calculations, round your final answer to the nearest whole number.)5. (a) When a new business is started, or a patent idea needs funding, venture capitalists or investment bankers will want to see a business plan that includes forecast information related to a profit and loss statement. What type of forecasting information do you suppose would be required? (b) A picnic spot is open on Thursday, Friday and Saturday. The manager hopes to improve resource availability and scheduling of part-time employees by forecasting visitors in the next week. Data on visitors of the recent 5 weeks at the spot has been found. On Saturday, Thursday, and Friday there were 182. 95, and 280 in week 1; 197, 105, and 295 in week2; 178, 92, and 275 in week 3; 210, 109, and 305 in week 4; and 192, 100. and 284 in week 5. i. Find seasonal relatives of the days. ii. Forecast number of visitors in the resort for week 6 and that is for the days of week 6.The Handy-Dandy Department Store had forecast sales of $110,000 for the previous week. The actual sales were $130,000.a. What is the forecast for this week, using exponential smoothing and α = .1?b. If sales this week turn out to be $120,000, what is the forecast for next week?
- Sarah has been custom manufacturing sweaters now for 7 years. Her annual sales are shown below. Year Sales 1 178 2 215 3 233 4 301 5 337 6 330 7 361 What are her forecasted sales for year 8 using a 5 year weighted average where w1=.4, w2=.3, w3=.15, w4=.1, w5=.05? What are her forecasted sales for year 8 using exponential smoothing? Assume year 7 forecast was 323. Select your own alpha. Which forecast method is the best for Sarah to use based on MAD? Why?Company ABC is planning to introduce a new advanced model for their Juice Maker product. The process is mainly fabrication of parts followed by assembly of the final product. The design team of the company is assigned to perform the following tasks. Show how the data is obtained (survey, literature, actual from records). Justify any assumptions used in your analyses. Demand Forecast 6. To forecast the demand for the new model of the product including the following: a. Identify for the forecasting method that will be used: the time frame, demand behavior, and its causes. b. Use Adjusted Exponential Smoothing Model. c. The weighing factors (smoothing constants) to be selected based on experimentation. Inventory Management 7. Manage the inventory of the new model of the product including the following: a. Decide on the type of inventory. b. Use continuous inventory control system with Production Quantity Model. c. Justify any assumptions used in your analysis.Cinema HD an online movie streaming service that offers a wide variety of award-winning TV shows, movies, animes, and documentaries, would like to determine the mathematical trend of memberships in order to project future needs. Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 Membership 17 16 16 21 20 20 23 25 24 a. What are the issues associated with qualitative forecasting, and how are these overcome? b.Provide an example of qualitative forecasting and explain the shortcomings.