Chapter 1 Introduction to Operations Management True/False 1. Operations managers are responsible for assessing consumer wants and needs and selling and promoting the organization’s goods or services. Answer: False Page: 4 Difficulty: Easy 2. Often‚ the collective success or failure of companies’ operations functions will impact the ability of a nation to compete with other nations. Answer: True Page: 4 Difficulty: Easy 3. Companies are either producing
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JGT Task 3 MEMORANDUM To: Alistair Wu‚ Plant Operating Director Cynthia Crowninshield VP From: Holly Lindsay Date: 10/26/2014 A. In this task‚ we were asked to decide which method Shuzworld should consider for the manufacturing of its sneakers at all possible volumes of output. The possible methods to be considered are: Reconditioning the plant equipment Purchasing new equipment Outsourcing to other manufacturing operations The figures for fixed and variable costs for each section were derived
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Points) d. Calculate the Mean Absolute Deviation for this Data Set (5 Points) 2. a. Using Sheet “Population of Arizona” using the Exponential Smoothing Model to build a Matrix of Values with the Smoothing Constant from 0.1 to 0.9 in 0.1 increments (10 Points) b. Calculate the Mean Absolute Deviation for Each Increment (5 Points) c. Explain which Smoothing Constant gives the greatest accuracy in forecasting and why. (5 Points) 3. Worley Fluid Supplies produces three types of fluid handling
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MBA AVM SEM III R250211021 College of Management and Economic Studies (CMES) University of Petroleum and Energy Studies Dehradun‚ India Exponential Smoothing Class Values Ft+1 = α.Xt + (1- α).Ft ----------------------------------- Eqn 1 Ft+1----- Forecasted Value of the next period “t+1” α------- Smoothing Factor/Coefficient Xt------- Actual Value of the current period “t” Ft------- Forecasted Value of the current period “t” Table 1 α=0.2
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(weight) Weighted Moving Average Uses an average of a specified number of the most recent observations‚ with each observation receiving a different emphasis (weight) Exponential Smoothing A weighted average procedure with weights declining exponentially as data become older Trend Adjusted Exponential Smoothing An exponential smoothing model with a mechanism for making
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Complete the following case study and problems and submit the results in either a Microsoft Word document or a Microsoft Excel spreadsheet. If you choose to use an Excel spreadsheet‚ place each problem on a separate sheet and label the tab with problem number. Save your document with a descriptive file name‚ including the assignment and your name. Chapter 4: North-South Airline Case Study: In January 2008‚ Northern Airlines merged with Southeast Airlines . . . 3-1 Data collected on the yearly demand
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unique circumstances. For the industrial intermediaries division‚ polymers and detergents each need a different method. Since the polymer intermediates sales have risen by a high number of 40% over a two year period and are unpredictable‚ an exponential smoothing method would be most appropriate. This method weights highest on the most recent years sales history. For the detergent intermediates‚ a moving average method would be most appropriate because sales have been stable overall in the past years
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Forecasting Models NMIMS Forecasting techniques Qualitative models time series models causal models 1.Delphi method 1.moving averages 1.regression analysis 2.Opinion poll 2.exponential smoothing 2.multiple regression 3.Historical Analogy 3.econometric models 4.Field Surveys 5.Business barometers 6.Extrapolation Technique 7.Input-Out put Analysis 8.Lead Lag Analysis 9.Sales force composites 10.Consumer Market survey Simple Average Method
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Study Guide for the Second Exam Aggregate Production Planning (APP) 1. What are the major inputs‚ constraints‚ and outputs of the aggregate production plan (APP)? 2. Does APP have to be in terms of a real product? 3. Where does APP fit in the hierarchy of plans? 4. What is a pure strategy? What is a mixed strategy? Give examples? How do we determine (judge) whether one plan is better than the other? 5. What is relevant (incremental) cost? Does it exist in accounting
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ACC304 Management Information Exam Review 1. Identify the different types of systems used for the different levels of management in a business. Textbook Page Reference:71-75 2. Identify and describe at least four business benefits of collaboration? Which do you feel is the most important and why? Textbook Page Reference:82-83 3. Discuss the impact of the Internet on the competitive forces model. Textbook Page Reference:112-113 4. Discuss the role of EDI (Electronic Data Interchange)
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