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Topics: Inventory, Forecasting, Moving average Pages: 2 (1033 words) Published: October 29, 2014
PROBLEMS ON FORECASTING FCT 1 Given an actual demand of 103, a previous forecast value of 99, and an alpha of .4, the exponential smoothing forecast for the next period would be FCT 2 A forecasting method has produced the following over the past five months. What is the mean absolute deviation (MAD) ActualForecastErrorError1011-11810-22108 2266 0098 11 FCT 3 What is the forecast for May based on a weighted moving average applied to the following past demand data and using the weights .5, .3, .2 (largest weight is for most recent data) Nov.Dec.Jan.Feb.Mar.April373640424743 FCT 4 Weekly sales of ten-grain bread at the local Whole Foods Market are in the table below. Based on this data, forecast week 9 using a three-week moving average. WeekSales 1415 2389 3420 4382 5410 6432 7380 8410 FCT 4 Most forecasting techniques assume that there is some underlying stability in the system. (a) True (b) False PROBLEMS ON AGGREGATE PRODUCTION PLANNING Washington Laundry Products, Inc., makes commercial and industrial laundry machines (the kinds hotels use), and has these aggregate demand requirements for the next six months. The firm has regular capacity for 120 units, and overtime capacity for 40 more. Currently, subcontracting can supply up to 100 units per month, but the subcontracting firm may soon be unavailable. MonthDemandCosts and other data1220Previous output level150 units2160Beginning inventory100 units3200Stockout cost250 per unit4210Inventory holding cost100 per unit at end of month5200Unit Cost, regular time1,200 per unit6190Subcontracting 2,000 per unitUnit Cost, overtime1,500 per unitHiring workers200 per unitFiring workers500 per unit Use the Chase Strategy and answer the following three questions PeriodDemandRegular Time ProductionOver Time ProductionSubcontr-actingInventoryShortagesIncrease in Production LevelDecrease in Production level122021603200421052006190 APP1 What is the total cost of shortages APP 2 What is the...
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