Step 1: Review the following case study. Please help with step 4 in this case study, questions 1-3.

Renovation Homeware has been manufacturing dining room furniture for several furniture outlets in the U.S. since 1969. The company is known for their dining room sets tables, chairs, consoles, and sideboards in which they offer tremendous choices and allow customization for dimensions, wood finish, upholstery, and fittings. The average promised lead time for their orders is eight weeks. Until recently, they were able to provide delivery within the promised due dates for 99.2% of orders, with an occasional slipup causing orders to be at most five days late. However, in the past two years, over 33% orders have been over three weeks late, leading to several complaints from buyers. Renovation prides itself on the quality of the furniture they produce and their willingness to incorporate requests for changes until the last possible time until the order is released to production. Their manufacturing operation is set up by departments. Wood cutting, upholstery storage and cutting, assembly, hardware fitting, polishing, finishing, inspection, and packaging are organized as separate mini-shops, and furniture makes its way through these departments as needed. A sophisticated scheduling system helps them keep track of due dates and job schedules. There has been a shift in the mix of orders for Renovation, and this shift appears to mirror a change in the customer mix. Compared to two years ago, order sizes of 1 to 5 sets of one type have been reduced to half of what they used to be, while order sizes of 4550 sets of one type with hardly any customization have nearly doubled. The customer mix now includes more retail chains, besides the traditional boutique stores and interior designers. As a sign of this increasing trend, one of Renovation Homewares major customers, Eat-In Dining Rooms, recently contacted them with a potential order of 125 single type of dining room sets for their newly expanded stores and warehouses in the Midwestern U.S. This order is for one of the cheaper sets that Renovation makes and requires no other customization other than two wood finish types in the mix. Until now, Eat-Ins order quantities for any one set had been quite small, with the largest order size being 5, even when the total order was for a larger quantity of up to 100. For the current large-volume order, Eat-In is demanding a shorter lead time of six weeks and is pushing for a discounted price, citing the large quantity of the same set as a reason. Such demands for price discounts have also been brought up recently by buyers for several other furniture outlets, although it has never been an issue in the past. The production manager for Renovation, Juanita Taggart, is in a bind. On the one hand, there is the potential for increasing sales by accepting large orders of identical sets, albeit at discounted prices. On the other hand, she has longstanding customers of customized sets complaining about slipping on delivery dates and workmanship. She is also not sure how she can provide the high volume orders at shorter lead times. The marketing manager, Terry Smith, believes that customers deserve the quantity discounts for larger orders and does not see why Juanita is not able to extract efficiencies from large volumes of the same sets as well as provide products more quickly than before. Juanita believes that there are some long-term operations strategy decisions that need to be made and that may need investments in the production process. She has scheduled a meeting with the marketing manager, Vera DeLillo, and the managing director, Albert Frank, to explain forecasting from an operations management. perspective. Step 2: Review historical and forecast data from Ikea by evaluating the following resource: IKEA supply chain: How does IKEA manage its inventory?Links to an external site. TYPE ON GOOGLE.

Step 4: Respond to and submit the following: Forecast for Renovation Homeware (Excel file) Chart showing forecast Summary of what your forecast reveals about potential growth Write a minimum of 300 words discussing and referencing your results. Support your statements with evidence from the Required Studies and your research. Cite and reference your sources in APA style.