OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
7th Edition
ISBN: 9780077835439
Author: Roger G Schroeder, M. Johnny Rungtusanatham, Susan Meyer Goldstein
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 10, Problem 8P
eXcel
At the ABC Floral Shop, an argument developed between two of the owners. Bob and Henry, over the accuracy of
- a. Using F1 100 and the data from problem 3, which of the two managers it right?
- b. Graph the two forecasts and the original data using Excel what does the graph reveal?
- c. Maybe forecast accuracy could be improved. Try
- d. Additional values of α = .2. .4. and 5 to see it better accuracy is achieved
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At the ABC Floral Shop, an argument developed between two of the owners, Bob and Henry, over the accuracy of forecasting methods. Bob argued that exponential smoothing with α = .1 would be the best method. Henry argued that the shop would get a better forecast with α = .3.a. Using F1 = 100 and the data from problem 3, which of the two managers is right?b. Graph the two forecasts and the original data using Excel. What does the graph reveal?c. Maybe forecast accuracy could be improved. Try additional values of α = .2, .4, and .5 to see if better accuracy is achieved.
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Week 3 Bonus Activity-
DEMAND FORECASTING CASE STUDY
After reviewing the forecasting demonstration and
looking over the slides, complete the following case
activity and transfer your answers to the appropriate
questions in the Canvas activity quiz.
You have been hired as a demand planning intern for
Hawaiian Island Creations (HIC). They want you to de-
velop a forecast for their HIC Papanui style of sun-
glasses. The goal is to determine how many pair they
will produce to meet retailer demand in July 2021. During
your first meeting, you were handed some data to work
with and the product team talked about the company's
upcoming promotional blitz to support Summer Break '21
in major vacation destinations.
Month
Forecast
Demand
January 2021
4.000
3,300
February 2021
4,200
3,900
March 2021
4,500
4,300
April 2021
4.800
4,200
May 2021
5 000
5.400
of 4
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立
Daily high temperatures in St. Louis for the last week were as follows: 93, 94, 93, 95, 96, 88, 90 (yesterday).a) Forecast the high temperature today, using a 3-day moving
average.
b) Forecast the high temperature today, using a 2-day moving
average.
c) Calculate the mean absolute deviation based on a 2-day mov-
ing average.
d) Compute the mean squared error for the 2-day moving average.
e) Calculate the mean absolute percent error for the 2-day moving average
Chapter 10 Solutions
OPERATIONS MANAGEMENT IN THE SUPPLY CHAIN: DECISIONS & CASES (Mcgraw-hill Series Operations and Decision Sciences)
Ch. 10.S - Ace Hardware sells spare parts for lawn mowers....Ch. 10.S - eXcel The daily demand for chocolate donuts from...Ch. 10.S - The SureGrip Tire Company produces tires of...Ch. 10.S - eXcelManagement believes there is a seasonal...Ch. 10.S - Management of the ABC Floral Shop believes that...Ch. 10 - Prob. 1DQCh. 10 - What is the distinction between forecasting and...Ch. 10 - Qualitative forecasting methods should be used...Ch. 10 - Describe the uses of qualitative, time-series, and...Ch. 10 - Qualitative forecasts and causal forecasts are not...
Ch. 10 - Prob. 6DQCh. 10 - What are the advantages of exponential smoothing...Ch. 10 - How should the choice of be made for exponential...Ch. 10 - Prob. 9DQCh. 10 - Prob. 10DQCh. 10 - Explain how CPFR can be used to reduce forecasting...Ch. 10 - Under what circumstances might CPFR be useful, and...Ch. 10 - Daily demand for marigold flowers at a large...Ch. 10 - The number of daily calls for the repair of Speedy...Ch. 10 - 3-The ABC Floral Shop sold the following number of...Ch. 10 - The Handy Dandy Department Store had forecast...Ch. 10 - 5-The Yummy Ice Cream Company uses the exponential...Ch. 10 - Using the data in problem 2, prepare exponentially...Ch. 10 - Compute the errors of bias and absolute deviation...Ch. 10 - eXcel At the ABC Floral Shop, an argument...Ch. 10 - Only a portion of the following table for...Ch. 10 - A candy store has sold the following number of...Ch. 10 - eXcel A grocery store sells the following number...Ch. 10 - Prob. 12PCh. 10 - The Easyfit tire store had demand for tires shown...Ch. 10 - Prob. 14P
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