E.25 Using the accompanying log-log graph, answer the following questions: a) What are the implications for management if it has forecast its cost on the optimum line? b) What could be causing the fluctuations above the optimum line? c) If management forecast the 10th unit on the optimum line, what was that forecast in hours? d) If management built the 10th unit as indicated by the actual line, how many hours did it take? 500 400 300 200 Actual Optimum 100 80 60 40 20 10 1 10 100 200 300 400 Total units produced Labour-hours per unit

E.25 Using the accompanying log-log graph, answer the following questions: a) What are the implications for management if it has forecast its cost on the optimum line? b) What could be causing the fluctuations above the optimum line? c) If management forecast the 10th unit on the optimum line, what was that forecast in hours? d) If management built the 10th unit as indicated by the actual line, how many hours did it take? 500 400 300 200 Actual Optimum 100 80 60 40 20 10 1 10 100 200 300 400 Total units produced Labour-hours per unit

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

ChapterC: Cases

Section: Chapter Questions

Problem 5.3SD: Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling...

See similar textbooks

Similar questions

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?
Under what conditions might a firm use multiple forecasting methods?
2. Calculate the exponential smoothing forecast for week eight using a=0.2. Week Sales Forecast 1 39 2 44 3 40 4 45 5 38 6 43 7 39 a. 41.63 b. 39.98 c. 40.54 d. 40.03 Instruction: This is consists of one (1) multiple choice question. The question requires deep analysis. Choose the appropriate response for the question. A detailed working out should accompany the responses.
1:46 口 Forecasting Assignment 1. The department manager using a combination of methods has forecast sales of toasters at a local department store. Calculate the MAD for the manager's forecast. Compare the manager's forecast against a naive forecast. Which is better? Manager's Forecast Month Unit Sales January February 52 61 March 73 April Мay 79 66 June 51 July August September 47 50 44 55 30 52 October 55 42 November 74 60 December 125 75 2. The last four weekly values of sales were 80, 100, 105, and 90 units. The last four forecasts (for the same four weeks) were 60, 80, 95, and 75 units. Calculate MAD, MSE, and MAPE for these four weeks. Sales Forecast Error Error squared Pct. error 80 60 20 400 .25 100 80 20 400 .20 105 95 10 100 .095 90 75 15 225 .167 AA A online.saskpolytech.ca
10 Community General Hospital finds itself treating many bicycle accident victims. Data from the last seven 24-hour periods is shown below: Day Bicycle Victims 1 8 2 14 3 8 4 14 5 18 6 15 What is the forecast for day 4 using a 3-period moving average model? (1 mark) (Round to two decimal places). 11 What is the forecast for day 5 using a 3-period moving average model? (Round to two decimal places). 12 What is the forecast for day 6 using a 3-period moving average model? (1 mark) (Round to two decimal places). 13
What is the role of the POS system in forecasting at HardRock?
subject: strategic management What are some of the issues and danger in forecasting? Cite examples of its implications to the organization
The table shows the values found in the error analysis. What method of forecasting would be best to use? What is the forecasted value? MSE forecast for week 13 Time Series 1.08 14.76 3-week MA 3.04 13.67 exp smoothing 11.04 9.5 Group of answer choices A.) Time Series, forecasted value = 14.76 B.) 3-week MA, forecasted value = 13.67 C.) exp smoothing, forecasted value = 9.5 D.) Time Series, forecasted value = 1.08 E.) 3-week MA, forecasted value = 3.04 F.) exp smoothing, forecasted value = 11.04
q1- Daily highs in Sacramento for the past week (from least to most recent) were: 95, 102, 101, 96, 95, 90 and 92. Develop a forecast for today using a weighted moving average, with weights of .6, .3 and .1, where the highest weights are applied to the most recent dataq2- Consider the following demand and forecast. Period Demand Forecast 1 7 10 2 12 15 3 18 20 4 22 If MAD = 2, what is the forecast for period 4? Answer 21 22 23 none of the aboveq3- A normal distribution has a mean of 500 and a standard deviation of 50. A manager wants to simulate one value from this distribution, and has drawn the number 1.4 randomly. What is the simulated value?Q4- The local operations manager for the IRS must decide whether to hire 1, 2, or 3 temporary workers. He estimates that net revenues will vary with how well taxpayers comply with the new tax code. The following payoff table is given in thousands of dollars (e.g. 50 = $50,000). If he thinks the chances of low, medium, and high compliance are…
Do you think that Hard Rock Cafemakes use of time horizons when forecasting?