------------------------------------------------- INDIVIDUAL ASSIGNMENT ------------------------------------------------- Aggregate Planning and Master Scheduling CASE STUDY #5 The Eight Glasses a Day (EGAD) Bottling Company has decided to introduce a new line of premium bottled water that will include several “designer” flavours. Marketing manager is predicting an upturn in demand based on the new offerings and the increased public awareness of the health benefits of drinking more water. She
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1) To analyze any time series data the best practice is to plot the scatter diagram at the beginning. A scatter diagram tells us about the pattern of the time series data which should be accounted for when the forecasting model is being developed. Here the obtained scatter plot is given below, Scatter diagram Number of patients 120 100 80 60 40 20 0 7/30/2014 8/4/2014 8/9/2014 8/14/2014 8/19/2014 8/24/2014 8/29/2014 9/3/2014 Date Here we can see that the values
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Northcutt Bikes: The Forecasting Problem Jan Northcutt is the owner of bike shop named after her. She has been owner this business for over 20 years. She started to notice that the quality of her bikes that she was purchasing for her to sale were declining while the prices she was paying was going up. The features that she preferred on the bikes were impossible obtain quickly. Instead of panicking or placing blame on somebody else she met the problem head on. Jan started to buy all the necessary
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ANALYSIS OF REGRESSION Jessica Cain American InterContinental University Abstract The world today uses statistics in many different ways to understand numbers and possible outcomes. One way that this is by using regression analysis. The regression analysis which is based on a correlation between two variables can help us to better understand the relationship between the two variables. The process which is a valuable one has helped researchers, and businesses to grow based on information
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Harmonds Foods Harmonds foods faced many problems but forecasting sales was the main issue which in turn was the cause for ill planned advertising, the misuse of the workforce, potential loss of sales, angry customers and increased expenditures from over ordering of raw material. The surplus expenses in advertising that was not approved in the budget was added to the following years making it seem that Harmonds foods’ sales exceeded the forecast which raised the market value of the common
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to hire because it is a graphic representation of Avie Inc. jobs, and shows how many people are currently working. This helps when choosing future employees because you physically see what you need and what you don’t need, which is helpful when forecasting jobs. Assume that Avie goes ahead with the third shift. What can the company use to evaluate the effectiveness of this strategy in a year’s time? One way that Avie can compare the effectiveness is by using benchmarking, benchmarking allows Avie
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Repeat demand Question 3.3. (TCO 5) Which of the following forecasting methodologies is considered a causal forecasting technique? (Points : 3) Exponential smoothing Weighted moving average Linear regression Historical analogy Market research Question 4.4. (TCO 5) Which of the following forecasting methods uses executive judgment as its primary component for forecasting? (Points : 3) Historical analogy Time series analysis
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the four marketing managers created. The task force found many problems some being systematic bias and that it seemed information was being withheld. In the end at the presentation it becomes obvious that the problems were poorly done incorrect forecasting and a collaboration to prevent people from becoming aware of it, by withholding information and having an aggressive negative manner when discussing the topic. 2. How appropriate was the selection of task force members? What criteria were
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Forecasting Sales The Vintage Restaurant is located on Captiva Island, a resort community located near Fort Meyers, Florida. The restaurant, which is owned and operated by Karen Payne, has just completed its third year of operation. During this time, Karen has sought to establish a reputation for the restaurant as a high-quality dining establishment that specializes in fresh seafood. The efforts made by Karen and her staff have proved successful, and her restaurant has become one of the best
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Operation Strategy: Specifies the means by which operations implements corporate strategy * Corporate strategy: Provides an overall direction and framework for carrying out all the organization’s function (Environmental scanning, core competencies, core processes, and global strategy) * Competitive capabilities: current performance along those dimensions that a process or supply chain actually has * Order Winner: a criterion the customers use to differentiate the services / products of
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