MIT School of Business (MITSOB) Post Graduate Diploma in Management (PGDM) Backlog (April 2014) Semester II Term End Examination Subject: Operations Research (203) Total Marks: 50 Duration: 2½ Hrs. Instructions: 1) Formulate the problems in the answer sheet. 2) Students should write the steps and formulae used in the cells along with the final answer, in the answer sheet so that examiner will be able to evaluate the answers. 3) No marks will
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1.) Matrix Plot of GE Closing, S&P 500, PHG, BA, Trend 2.) Regression Analysis: GE Closing versus S&P 500, PHG, BA, Trend Analysis of Variance Source DF Adj SS Adj MS F-Value P-Value Regression 4 3354.01 838.503 250.08 0.000 Error 67 224.65 3.353 Total 71 3578.66 Model Summary S R-sq R-sq(adj) R-sq(pred) 1.83110 93.72% 93.35% 92.32% Coefficients Term Coef SE Coef T-Value P-Value VIF
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Harmon Foods Case | The Problem Statement Harmon Foods was experiencing significant challenges with forecasting in the sales of Treat, their ready-to-eat breakfast cereal. Huge variations in actual sales versus forecast created a myriad of problems that led to costly production changes resulting in lower profitability. The Company must seek to develop accurate forecasting techniques that will result in low deviations from actual sales. Key Demand Factors Management identified seasonal factors
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Factors Influencing Demand Forecasting: Demand forecasting is a proactive process that helps in determining what products are needed where, when, and in what quantities. There are a number of factors that affect demand forecasting. Some of the factors that influence demand forecasting are shown in Figure-2: The various factors that influence demand forecasting (“as shown in Figure-2) are explained as follows: i. Types of Goods: Affect the demand forecasting process to a larger extent. Goods
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QUALITATIVE TECHNIQUES Qualitative forecasting techniques are generally more subjective than their quantitative counterparts. Qualitative techniques are more useful in the earlier stages of the product life cycle, when less past data exists for use in quantitative methods. Qualitative methods include the Delphi technique, Nominal Group Technique (NGT), sales force opinions, executive opinions, and market research. THE DELPHI TECHNIQUE. The Delphi technique uses a panel of experts to produce a
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MAN 4320 Study Guide – Test #1 – Chapters 1-5 In fairness to all students I ask that you NOT send me individual inquiries related to specific topics addressed in this study guide for which you require further clarification. I have found in the past that by responding to one student’s inquiry this might be viewed as demonstrating preferential treatment. Therefore, should you require any further clarification I will defer to this disclaimer and not respond to your inquiry. There are a total of
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Assignment 1 Question 1: The customer order decoupling point is described as the point at which demand changes from independent to dependant (unit 2). What does this mean and why is this important to managers? This means that the customer order decoupling point (CODP) is the point at time which the company has to allocate resources(such as timing and quantity of material) in order to serve the final consumer(the independent demand that now becomes dependent) requests. Different environments are
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sales for the fourth year turn out to be $295,000. What was your forecast error? If this is a large error, Karen may be puzzled about the difference between your forecast and the actual sales value. What can you do to resolve her uncertainty in the forecasting procedure? The statistical
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distribution and parts center was the company we chose in week one. Our team member Charles Hall was kind enough to provide us with data of their sales up until recently. We also discussed how inventory control would help consumer satisfaction and forecasting sales. Harley Davidson In order to monitor the company’s sales we need to have a system in place to monitor inventory. Inventory control will provide the company with a view of what is in stock, what they have in overstock, and the sales that
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Forecasting at Hard Rock Café Managing Operations Across the Supply Chain Trapanger Stephens DeVry University Dr.Thomas Knopp 1. Describe three different forecasting applications at Hard Rock. Name three other areas in which you think Hard Rock could use forecasting models. Sales forecasts: • Long range forecasting: in setting a capacity plan
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