Question: Your firm is considering reducing staff and your forecasting department
Your firm is considering reducing staff and your forecasting department has been mentioned as a prime candidate for this treatment. Outline a brief memo to defend the value of your department’s services to the firm. How could you quantify your claims?
Answer to relevant QuestionsAssume that you are the regional operations manager responsible for 27 Burger Queen Restaurants. What types of demand forecast models do you think you would need for your short-term planning? What decisions would each ...If last period’s forecast was 27 and the demand was 30, what was the forecast error? What would be the forecast for the next period using an exponential smoothing model with alpha = 0.5? The following data show the number of laptop computers sold each month at a retail store: Month Unit Sales January ........................................................ 200 February ...Assume that the following demands vary according a four period seasonal cycle. a. Compute the seasonal indexes using the average demand in each cycle as the base b. Compute the seasonal indexes using regression estimates as ...Explain in your own words the typical differences in objectives for production managers and sales managers.
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