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Introduction to Operations Management

  • Describe the concept of operations functions, supply chain strategy, process selection, forecasting, capacity planning, production forecast methods and schedule operations.
  • Demonstrate process-flow analysis, process design solutions, operations strategies, Inventory Control System and customer services in the business operation.
  • Question 2:
    An Electronic Company estimates the annual demand for
    a certain product as follows:

    Week 1 2 3 4 5 6
    Demand 649 524 561 738 515 598

    a. Forecast
    the demand for week 7 using a five-period
    moving average? (Marks 1.5) (word count maximum:100)
    b. Forecast
    the demand for week 7 using a three-period weighted moving average. Use the
    following weights: W1 = .4, W2 = .4, W3 = .2 (Marks 1.5) (word
    count maximum:100)
    c. Forecast
    the demand for week 7 using exponential smoothing. Use α value of .1 and assume
    the forecast for week 6 was 602 units? (Marks 1.5) (word count maximum:100)
    d. What
    assumptions are made in each of the above forecasts? (Marks 0.5) (word
    count maximum:150)

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