- 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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