Operations functions, supply chain strategy, process selection, forecasting, capacity planning, production forecast methods and schedule operations
Describe the concept of operations functions, supply chain strategy, process selection, forecasting, capacity planning, production forecast methods and schedule operations.
Demonstrate process-flow analysis, process design solutions, operations strategies, Inventory Control System and customer services in the business operation.
Assignment Question(s) :
An Electronic Company estimates the annual demand for a certain product as follows:
Forecast the demand for week 7 using a five-period moving average? (Marks 1.5) (word count maximum:100)
Forecast the demand for week 7 using a three-period weighted movingaverage. Usethe following weights: W1 = .4, W2 = .4, W3 = .2 (Marks 1.5) (word count maximum:100)
Forecast the demand for week 7 using exponential smoothing. Use αvalue of .1and assume the forecast for week 6 was 602 units? (Marks 1.5) (word count maximum:100)
What assumptions are made in each of the above forecasts? (Marks 0.5) (word count maximum:150)
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