Is it possible to use the exponential smoothing method? What is it like?
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Is it possible to use the exponential smoothing method? What is it like?
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- 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?
- China effectively shuts down for two weeks each year and celebrates the lunar new year. How does that resemble (or not) peak season in Western countries?What is the fundamental distinction between a weighted average travelling and exponential smoothing?10-5. The PM Computer Company makes build-to-order (BTO) computers at its distribution center year round. The follow- ing table shows the average value (in $ millions) of compo- nent parts, work-in-process, and finished computers at the DC for the past four years. Year 2 3 $20.5 Component parts Work-in-process Finished computers Cost of goods sold 27.8 30.8 37.3 4.2 6.7 7.1 9.5 3.6 7.2 8.6 10.1 226.0 345.0 517.0 680.0
- Below is data of lobster sales volume from a seafood company. We're are using exponential smoothing (α = 0.5) and 3-year moving average to forecast it. a) Fill the blanks above and write your processes below. b) What are the mean absolute deviations (MADs) of the two methods? Whichmethod will you choose based on the results? *Please solve for a-b, either type ALL YOUR WORK and answers or write them neatly on paper* NO EXCEL thank you!Using the accompanying log-log graph, answer the following questions: What are the implications for management if it has forecast its cost on the optimum line? What could be causing the fluctuations above the optimum line? If management forecast the tenth unit on the optimum line, what was that forecast in hours? If management built the tenth unit as indicated by the actual line, how many hours did it take?Palisades Eco-Park is a small ecological reserve that admits a relatively small number of visitors on any day, but provides both educational and entertaining lectures, exhibitions, and opportunities to observe nature. The company has collected the following data on labor costs and number of visitors to the park over the last 30 months. Month Labor Cost Visitors 1 $ 26,720 2,600 2 $ 37,555 3,964 3 $ 41,361 4,299 4 $ 32,751 3,398 5 $ 36,022 3,630 6 $ 33,811 3,336 7 $ 33,139 3,372 8 $ 39,671 4,093 9 $ 39,912 4,222 10 $ 48,568 5,463 11 $ 43,627 4,551 12 $ 40,390 4,289 13 $ 35,644 3,694 14 $ 34,330 3,573 15 $ 38,260 3,836 16 $ 27,424 3,210 17 $ 31,732 5,195 18 $ 31,005 4,260 19 $ 28,552 3,689 20 $ 31,049 4,546 21 $ 26,588 3,058 22 $ 25,515 2,744 23 $ 29,899 4,997 24 $ 31,204 5,838 25 $ 29,099 3,964 26 $ 32,795 5,007 27 $ 29,650 4,572 28 $ 30,970 4,665 29 $ 29,429 3,841 30 $ 28,846 3,174 Required: a. Estimate the labor…
- Below is data of lobster sales volume from a seafood company. We are using exponential smoothing (α = 0.5) and 3-year moving average to forecast it. a. Please fill the blanks above and write your processes below. b. What are the mean absolute deviations (MADs) of the two methods? Whichmethod will you choose based on the results? *Please solve for a-b and type or write all your work/steps and answers on paper* NO EXCEL, thank youHow did you calculate itUsing the trend projection manual method, forecast demand for transmission repairs for periods 11 and 12 2. With the aid of a well labeled diagram, describe the transformation process at One Stop Car Repairs. 3. Is One Stop Car Repairs a service facility or a manufacturing facility