ech company is a medium-sized consumer electronics retailer.The company reported $155,000,000 in revenues for 2007 and $110,050,000 in Cost of Goods Sold (COGS). In the same year, Tech Co. held an average of $20,000,000 in inventory. How many times did Tech Co. turn its inventory in 2007
Q: After plotting demand for four periods, an emergency room manager has concluded that a…
A: Given data is TAF for fifth period = 250
Q: actual demand of a product in 2020 4300 units and the exponential smoothing method forecasts 4200…
A: Exponential smoothing refers to the process where the exponential window function is used to smooth…
Q: The Saki motorcycle dealer in the Minneapolis–St. Paul area wants to make an accurate forecast of…
A: a) The Moving Average Forecast method uses the data from the past periods to forecast the value of…
Q: Simple exponential smoothing with α= 0.3 is being used to forecast sales of digital cameras at…
A: Given Information: Sales in September: 120 units Forecast in September: 100 units Alpha = 0.3…
Q: Given the demand data, answer the following questions below. Year Sales 1 - 123 2 - 118 3 -…
A: A moving average is a method to obtain a complete analysis of the trends in a data kit; it is an…
Q: obtained
A: The answer to this question is true.
Q: In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1,200 radials each…
A: Solution Season Year 1 Year 2 Average Fall 240 260 250 Winter 350 310…
Q: Given the following data on the number of pints of ice cream sold at a local ice cream store for a 3…
A: A moving average is a statistical strategy for finding overall trends in a data set by averaging any…
Q: Simple exponential smoothing with a 5 0.3 is being used to forecast sales of digital cameras at…
A: Given Smoothing constant a=0.3 Forecast for September = 100 cameras Sales in September = 120 cameras
Q: A company has the following demand history by seasons over a two-year period. The production planner…
A: In this question, the production planner would deseasonalize the data set, to make such…
Q: The fictitious Haskins & Collins Ice Cream Store needs an accurate estimate of demand. The owner of…
A: Find the Given details below: Given details: Quarter Year 1 2 3 4 January - March 370…
Q: Forecasts affect planning but not the other management functions.
A: This do not require any introduction
Q: Apply the appropriate forecasting tools and techniques in predicting product demand using OM…
A: Demand forecasting is the assessment of likely future demand for an item or administration. The term…
Q: Quarterly boat sales over a two-year period are provided in the table below. Suppose we expect year…
A: Year 1: Average demand = 8+10+12+94=9.75 Year 2: Average demand = 8+11+14+104=10.75
Q: Tech Company is a medium-sized consumer electronics retailer. The company reported $155,000,000 in…
A: The good held by the business for accomplishing the aim of reselling the material is known as the…
Q: Zara's success relies on keeping a significant amount of its production in-house and making sure…
A: Inventory management is the management in which stock is sourced, stored, and sold in the market.
Q: ACTUAL DEMAND 2011 Spring 203 Summer 144
A: YEAR SEASONACTUAL DEMAND 2011 Spring 203 Summer 144 Fall 382 Winter 565…
Q: A company has an unbiased forecast for its demand. What does that mean?a. All forecast errors are…
A: Forecasting is the procedure of prediction making for the future grounded on past as well as present…
Q: snip
A: An exponential smoothing forecast becomes more responsive to changes in a data series when its alpha…
Q: Small Wonder, an amusement park, experiences seasonalattendance. It has collected two years of…
A: Seasonal index = Attendance in the quarterAverage attendance Average demand per season = Annual…
Q: Zeus Computer Chips, Inc., used to have major contracts to produce the Centrino-type chips. The…
A: Two years ago Units Last Year Unit This Year Units I 4805 I 3505 I 3195 II 3505 II 2705 II…
Q: In the demand forecast, which of the following cannot be predicted? Select one: a. seasonal…
A: Demand forecasting is the process of predicting or estimating the future demand based on historical…
Q: Forecast accuracy decreases with the long range forecast. True or False? Explain
A: Forecasting is a technique of predicting future events based on historical data and projecting them…
Q: A supermarket has experienced weekly demand of milk of D1 = 120, D2 = 127, D3 = 114, and D4 = 122…
A: Note: I have answered for 1st question. Kindly post the second question separately. Compute forecast…
Q: Monthly sales in a company for a seven-period (Jan-July) were as follows: 19, 18, 16, 14, 17, 19,…
A: A simple moving average calculates the average of a selected range of the values, usually the closed…
Q: The manager of a fashionable restaurant open Wednesday through Saturday says that the restaurant…
A:
Q: National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period…
A: Month Sales (y) t t2 ty Feb 15 1 1 15 Mar 23 2 4 46 April 12 3 9 36 May 25 4 16 100 June…
Q: Lori Cook has developed the following forecasting model: y = 45.0 + 4.50x, where y = demand for Kool…
A: Given equation for the forecasting model, y=45+4.50×x y= Demand for Kol air conditioners x=the…
Q: Consider the manager of a large department store. Among other responsibilities, she is in charge of…
A: Deliberate the administrator of a large section store. Amid other tasks, she is in responsibility of…
Q: Lori Cook has developed the following forecasting model: y = 40.0 + 4.20x, where y = demand for Kool…
A: Y = 40 + 4.20x Where, Y = Demand for Air Conditioners X = Outside temperature
Q: Forecasting plays an important role in the operations of modern management. In fact, operational…
A: Forecasting can be defined as the process of estimating data based on the present and past data.…
Q: Among these trend patterns, within the projection methods, choose the one that is most common when…
A: Secular refers to market activities that extend over long time horizons, and they do not get…
Q: What are the advantages of exponential smoothing over the moving average and the weighted moving…
A: An exponential moving average (EMA) is an average that gives the most recent data points more weight…
Q: Collaborative Planning, Forecasting and Replenishment (CPFR) states cooperative management of demand…
A: Inventory and supply chain are integral part of operation management. Here operations management is…
Q: A wholesaler estimates that 5.6 times a year a dispensing centre flips its stock. What are the…
A: Given : Inventory turnover ratio = 5.6 times
Q: The manager of the I-85 Carpet outlet needs to be able toforecast accurately the demand for Soft…
A: Forecasting is a tool which is based on past data and inputs and used in future trend projections.…
Q: Three popular measures of forecast accuracy are: average error, median error, and maximum error.…
A: The accuracy of the forecast can be determined by comparing the actual or real values with the…
Q: The following gives the number of accidents thatoccurred on Florida State Highway 101 during the…
A: Given Months Number of Accidents Jan 30 Feb 40 Mar 60 Apr 90
Q: Question 6 Tech Company is a medium-sized consumer electronics retailer. The company reported…
A: Revenues (R) = $155,000,000 Cost of goods sold (COGS) = $110,050,000 Average inventory (AI) =…
Q: How can we monitor and control forecast in our interior designing business. Please provide with a…
A: Small Introduction about Forecast Control Because forecast explosion only creates exploded forecast…
Q: QWE Inn has recorded the following number of rooms sold for the first quarter of the year:…
A: Given data; Actual data for Jan = 2100 Feb = 2500 March = 2550
Q: Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for…
A: The price and quantities sold for mocha latter coffee is given, now the demand has to be forecasted…
Q: In the past, Peter Kelle's tire dealership in Baton Rouge sold an average of 1,000 radials each…
A: The forecast is as below
Q: The manager of the Carpet City outlet needs to make an accurate forecast of the demand for Soft Shag…
A: Forecasting is very crucial for any business and nowadays businesses are surviving because of…
Q: The moving average forecast method should only be used with time series data demonstrating a linear…
A: A moving average, which is indeed the average of any subset of values, is a method for gaining a…
Q: Does double exponential smoothing always forecast better than simple exponential smoothing when we…
A: SIMPLE EXPONENTIAL SMOOTHING: The simplest of the exponential smoothing is the simple exponential…
Q: What advantages does adjusted exponential smoothing have over a linear trend line for forecasted…
A: Adjusted exponential smoothing is a forecasting methodology that employs measurable and historical…
Q: Demand for Soft Shag Month Carpet (1,000 yd.) 1…
A: Exponential smoothing forecast is extension of simple moving average forecast. In exponential…
Q: To better plan for future growth of the restaurant, Karen needs to develop a system that will enable…
A: Forecasting is a method that involves chronicled information as contributions to make informed…
Q: The Victory Plus Mutual Fund of growth stocks has had the following average monthly price for the…
A: Note: - Since we can answer only up to three subparts we will answer the first three(1, 2, and 3)…
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- 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?The grocery industry has an annual inventoryturnover of about 14 times. Organic Grocers, Inc. had a costof goods sold last year of $10.5 million; its average inventory was $1.0 million. What was Organic Grocers’ inventoryturnover, and how does that performance compare with thatof the industry?
- Last year, an online retailer of tennis equipment carried an average inventory of $7,500,000.The retailer reported sales revenue of $49,200,000 last year with a cost of goods sold of $23,900,000. Use this information to calculate the inventory turnover for the retailer last year. The inventory turnover for the retailer is ------- turns per year. (Enter your response rounded to two decimal places.)The following lots of a particular commodity were available for sale during the year Beginning inventory 7 units at $49.00 First purchase 18 units at $54.00 Second purchase 25 units at $59.00 Third purchase 14 units at $59.00 The firm uses the periodic system, and there are 23 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the FIFO method? Select the correct answer. $1,127.00 $1,357.00 $3,616.00 $3,593.00Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7 46 milion and inventory was $1 49 milion. This year, costs of goods sold is $8.59 million and inventory investment is $1.63 million a) What was its weeks of supply last year? weeks (round your response to two decimal places) b) What is its weeks of supply this year? weeks (round your response to two decimal placea) c) Is Mattress Wholesalers making progress in its inventory reduction effort? Since the number of weeks that cover the supply has V Mattress Wholesalers is making in its inventory-reduction effort negative progress no progress progress
- Dabble, Inc. has sales of $980,000 and cost of goods sold of $640,000. The firm had an average inventory of $46,000.What is the length of the days’ sales in inventory? (Use 365 days a year. Round your answer to 2 decimal places.)What is the distinction between simulated and projected average demand:Why would demand forecasting make sense in a “make to stock” situation?
- The following table shows financial data (year 2009) for two US retailers: Save-A-Lot Retailers and Wally’s Mart. Assume that both companies have an average annual holding cost rate of 20% (i.e. it costs both retailers $2 to hold an item for one entire year that they procured for $10). *Refer to attached image* How much lower, on average, is the inventory cost for Save-A-Lot compared to Wally’s Mart of a household cleaner valued at $50 COGS? Give your answer in terms of dollars. Assume that the unit cost of the household cleaner is the same for both companies and that the price and the inventory turns of an item are independent.How does the Wilson approach adapt to seasonal variations in demand and inventory management?Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.53 million and inventory was $1.49 million. This year, costs of goods sold is $8.61 million and inventory investment is $1.58 million. a) What was its weeks of supply last year? weeks (round your response to two decimal places). b) What is its weeks of supply this year? weeks (round your response to two decimal places). c) Is Mattress Wholesalers making progress in its inventory reduction effort? Since the number of weeks that cover the supply has V, Mattress Wholesalers is making V in its inventory-reduction effort.