Boston University tracks, on a daily basis, the number of assignments submitted. Below is the number of
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- Boston University tracks, on a daily basis, the number of assignments submitted. Below is the number of assignments submitted per day starting from January 1, 2015. The VP-Academic at Boston originally predicted there would be 70 assignments submitted on January 1st. Your role is to provide the following forecasts to determine which method is the most accurate.
Day | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
Assignments | 73 | 106 | 76 | 89 | 106 | 113 | 96 | 66 | 104 | 73 |
- Use a 4 day moving average to forecast demand for January 11th.
- Use exponential smoothing with a smoothing constant of 0.2.
- Use the trend projection method to forecast demand for January 2nd to the 10th.
- Calculate the MAD for each method and discuss which method produced the best results.
- Topline Electronics ships from three manufacturing plants in Ontario to four warehouses in Western Canada. Each warehouse must be supplied with its weekly requirements at the minimum shipping cost. Use the following table to ascertain the minimum shipping cost. (This is a transportation model problem and you must provide the minimum shipping cost and the completed “solution” table.)
Warehouse | |||||
Plant | Calgary | Edmonton | Regina | Tabor | Capacity |
London | .6 | .56 | .22 | .4 | 9,000 |
Thunder Bay | .36 | .3 | .28 | .58 | 12,000 |
Toronto | .65 | .68 | .55 | .42 | 13,000 |
Requirement | 7,500 | 8,500 | 9,500 | 8,000 |
- Topline Electronics sells 1,000 fifty five inch Flat TVs per month. They incur a fixed order placement, receiving and transportation cost of $4,000 each time an order is placed. Each TV costs them $500 and there is a holding cost of 20%. Determine the following.
- Optimal order size.
- Number of orders per year.
- Annual ordering and holding cost.
- Gordon Toys produces two products: 1) a tricycle for three year olds, and 2) a swing set for ages four and older. The production process is similar in that both require a specific number of metal work and assembly/packaging work. Each tricycle requires 4 hours of metal work and two hours of assembly/packaging work. Each swing set requires 3 hours of metal work and 1 hour of assembly/packaging. During the current production period, 240 hours of metal work time are available, while 100 hours of assembly/packaging time are available. Each swing set produces a profit of $5, while each tricycle produces a profit of $7.
- Determine the best possible combination of tricycles and swing sets in order to maximize profit. Produce a graph showing the constraints.
Related Book For
Operations Management Processes and Supply Chains
ISBN: 978-0132807395
10th edition
Authors: Lee J. Krajewski, Larry P. Ritzman, Manoj K. Malhotra
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