Chapter 1 question 1. Why is it important to match supply and demand? If a manag
ID: 392799 • Letter: C
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Chapter 1 question 1. Why is it important to match supply and demand? If a manager believes that supply Body and demand will not be equal, what actions could the manager take to increase the probability of achieving a match? Style Chapter 3 questions: Font National Scan, Inc sells radio frequency inventory tags. Monthly sales for a seven- month period were as follows: 1. Trebuche Month Sales (000 units) Feb. 21 Mar. 20 Apr. 17 May 22 Jun. 20 Jul. 24 Aug. 22 Character St Alignment a. Plot the monthly data on a sheet of graph paper. Spacing b. Forecast September sales volume using each of the following: (1) The naive approach (2) A five month moving average (3) A weighted average using .60 for August,.30 for July, and.10 for June (4) Exponential smoothing with a smoothing constant equal to.20, assuming a a March Bullets & List forecast of 19(000) (5) A linear trend equation c. Which method seems least appropriate? Why? (Hint: Refer to your plot from part a.) d. What does use of the term sales rather than demand presume?Explanation / Answer
1.b.1 Forecast using naive approach predicts the value of previous demand. Hence the forecast for September is 22. (which is a trial demand for August)
2. Five month moving average = (17 + 22 + 20 + 24 + 22) / 5 = 21.
3. Weighted Average = 22(0.6) + 24(0.3) + 20(0.1) = 13.2 + 7.2 + 2 = 22.4
4. Forecast for April = 20(0.2) + 19(0.8) = 15.2 + 4 = 19.2
May = 17(0.2) + 19.2(0.8) = 3.4 + 15.36 = 18.76
June = 22(0.2) + 18.76(0.8) = 4.4 + 15= 19.4
July = 20(0.2) + 19.4(0.8) = 4 + 15.52 = 19.52
August = 24(0.2) + 19.52(0.8) = 4.8 + 15.61 = 20.41
September = 22(0.2) + 20.41(0.8) = 4.4 + 16.33 = 20.73
As per Chegg's guideline, we are required to do only 4 parts of a question
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