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supply chain management 2nd
ISE Operations And Supply Chain Management 16th International Edition F. Robert Jacobs, Richard B. Chase - Solutions
Demand for an item is 1,000 units per year. Each order placed costs $10;the annual cost to carry items in inventory is $2 each. In what quantities should the item be ordered?1002W
Daily demand for a product is 100 units, with a standard deviation of 25 units. The review period is 10 days and the lead time is 6 days. At the time of review, there are 50 units in stock. If 98 percent service probability is desired, how many units should be ordered?1002W
Daily demand for a product is 60 units with a standard deviation of 10 units. The review period is 10 days, and lead time is 2 days. At the time of review, there are 100 units in stock. If 98 percent service probability is desired, how many units should be ordered?1002W
Sarah’s Muffler Shop has one standard muffler that fits a large variety of cars. Sarah wishes to establish a reorder point system to manage inventory of this standard muffler. Use the following information to determine the best order size and the reorder point.Annual demand 3,500 mufflers
A distributor of large appliances needs to determine the order quantities and reorder points for the various products it carries. The following data refer to a specific refrigerator in its product line:Cost to place an order $100/order Holding cost 20 percent of product cost per year Cost of
A local service station is open 7 days per week, 365 days per year. Sales of 10W40 grade premium oil average 20 cans per day. Inventory holding costs are $0.50 per can per year. Ordering costs are $10 per order. Lead time is two weeks. Backorders are not practical—the motorist drives away.a.
Dave’s Auto Supply custom mixes paint for its customers. The shop performs a weekly inventory count of the main colors used for mixing paint. Determine the amount of white paint that should be ordered using the following information:Average weekly demand 20 gallons Standard deviation of demand 5
Demand for a book at Amazon.com is 250 units per week (assume 50 weeks per year). The book is supplied to Amazon from the book publisher for $10 per book plus the cost of shipping the order. The shipping cost has a fixed cost of $50 per order and a variable cost of $2 per book shipped. So, the cost
Palin’s Muffler Shop has one standard muffler that fits a large variety of cars. The shop wishes to establish a periodic review system to manage inventory of this standard muffler. Use the information in the following table to determine the optimal inventory target level (or order-up-to
A particular raw material is available to a company at three different prices, depending on the size of the order:Less than 100 pounds $20 per pound 100 pounds to 1,000 pounds $19 per pound More than 1,000 pounds $18 per pound The cost to place an order is $40. Annual demand is 3,000 units. The
CU, Incorporated (CUI), produces copper contacts that it uses in switches and relays. CUI needs to determine the order quantity, Q, to meet the annual demand at the lowest cost. The price of copper depends on the quantity ordered. Here are price-break and other data for the problem:Price of
In the past, Taylor Industries has used a fixed–time period inventory system that involved taking a complete inventory count of all items each month.However, increasing labor costs are forcing Taylor Industries to examine alternative ways to reduce the amount of labor involved in inventory
Alpha Products, Inc., is having a problem trying to control inventory. There is insufficient time to devote to all its items equally. The following is a sample of some items stocked, along with the annual usage of each item expressed in dollar volume:Item Annual Dollar Usage Item Annual Dollar
DAT, Inc., produces digital audiotapes to be used in the consumer audio division. DAT lacks sufficient personnel in its inventory supply section to closely control each item stocked, so it has asked you to determine an ABC classification. Here is a sample from the inventory records:Item Average
You are curious as to how much Rhonda and Steve made in their business last year. You do not have all the data, but you know that most of their expenses relate to buying the sweaters and having them monogrammed.You know they paid themselves $50,000 each and you know the rent, utilities, insurance,
What was your reasoning behind using the aggregate demand forecast when determining the size of your order rather than the individual school forecasts? Should you rethink this or is there a sound basis for doing it this way?1002W
How many sweaters should you order this year? Break down your order by individual school. Document your calculations in your spreadsheet.Calculate this based on the aggregate forecast and also the forecast by individual school.1002W
What do you think they could make this year? They are paying you$40,000 and you expect your benefit package addition would be about $1,000 per year. Assume that they order based on the aggregate forecast.1002W
How should the business be developed in the future? Be specific and consider changes related to your supplier, the monogramming subcontractor, target customers, and products.1002W
The model most appropriate for making a one-time purchase of an item.1002W
The model most appropriate when inventory is replenished only in fixed intervals of time—for example, on the first Monday of each month.1002W
The model most appropriate when a fixed amount must be purchased each time an order is placed.1002W
Based on an EOQ-type ordering criterion, what cost must be taken to zero if. the desire is to have an order quantity of a single unit?1002W
Term used to describe demand that can be accurately calculated to meet the need of a production schedule, for example.1002W
Term used to describe demand that is uncertain and needs to be forecast.1002W
We are ordering T-shirts for the spring party and are selling them for twice what we paid for them. We expect to sell 100 shirts and the standard deviation associated with our forecast is 10 shirts. How many shirts should we order?1002W
We have an item that we stock in our store that has fairly steady demand.Our supplier insists that we buy 1,200 units at a time. The lead time is very short on the item because the supplier is only a few blocks away and we can pick up another 1,200 units when we run out. How many units do you
For the item described in question 8, if we expect to sell approximately 15,600 units next year, how many trips will we need to make to the supplier over the year?1002W
If we decide to carry 10 units of safety stock for the item described in questions 8 and 9, and we implemented this by going to our supplier when we had 10 units left, how much inventory would you expect to have, on average, now?1002W
We are being evaluated based on the percentage of total demand met in a year (not the probability of stocking out as used in the chapter). Consider an item that we are managing using a fixed–order quantity model with safety stock. We decide to double the order quantity but leave the reorder point
Consider an item for which we have 120 units currently in inventory (this includes the safety stock). The average demand for the item is 60 units per week. The lead time for the item is exactly 2 weeks and we normally carry 16 units for safety stock. What is the probability of running out of the
If we take advantage of a quantity discount, would you expect your average inventory to go up or down? Assume that the probability of stocking out criterion stays the same.1002W
This is an inventory auditing technique where inventory levels are checked more frequently than one time a year.1002W
Understand how forecasting is essential to supply chain planning.TW-111
Evaluate demand using quantitative forecasting models.TW-111
Apply qualitative techniques to forecast demand.TW-111
Apply collaborative techniques to forecast demand.TW-111
Why is forecasting necessary in OSCM?TW-111
It is a common saying that the only thing certain about a forecast is that it will be wrong. What is meant by this?LO18-2
From the choice of the simple moving average, weighted moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate? Why?TW-111
All forecasting methods using exponential smoothing, adaptive smoothing, and exponential smoothing including trend require starting values to get the equations going. How would you select the starting value for, say, Ft−1?TW-111
How is a seasonal index computed from a regression line analysis?TW-111
Discuss the basic differences between the mean absolute deviation and mean absolute percent error.TW-111
What implications do forecast errors have for the search for ultrasophisticated statistical forecasting models?TW-111
Causal relationships are potentially useful for which component of a time series?LO18-3
How has the development of the Internet affected the way companies forecast in support of their supply chain planning process?TW-111
What sorts of risks do you see in reliance on the Internet in the use of collaborative planning, forecasting, and replenishment (CPFR)?TW-111
What is the term for forecasts used for making day-to-day decisions about meeting demand?TW-111
What category of forecasting techniques uses managerial judgment in lieu of numerical data?LO18-2
Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note, the 1st quarter is Jan, Feb, and Mar; 2nd quarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep;and 4th quarter Oct, Nov, Dec.TW-111
Here are the data for the past 21 months for actual sales of a particular product:Develop a forecast for the fourth quarter using a three-quarter, weighted moving average. Weight the most recent quarter 0.5, the second most recent 0.25, and the third 0.25. Do the problem using quarters, as opposed
The following table contains the number of complaints received in a department store for the first six months of operation.Month Complaints January 36 February 45 March 81 April 90 May 108 June 144 If a three-month moving average is used to smooth this series, what would have been the forecast for
The following tabulations are actual sales of units for six months and a starting forecast in January.(Answers in Appendix E)a. Calculate forecasts for the remaining five months using simple exponential smoothing with α = 0.2.b. Calculate MAD for the forecasts.Actual Forecast January 100 80
Assume an initial starting Ft of 300 units, a trend (Tt) of eight units, an alpha of 0.30, and a delta of 0.40. If actual demand turned out to be 288, calculate the forecast for the next period.TW-111
Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from
A particular forecasting model was used to forecast a six-month period. Here are the forecasts and actual demands that resulted:Forecast Actual April 250 200 May 325 250 June 400 325 July 350 300 August 375 325 September 450 400 Find the tracking signal and state whether you think the model being
Your manager is trying to determine what forecasting method to use. Based upon the following historical data, calculate the following forecast and specify what procedure you would utilize.Month Actual Demand 1 62 2 65 3 67 4 68 5 71 6 73 7 76 8 78 9 78 10 80 11 84 12 85a. Calculate the simple
Zeus Computer Chips, Inc. used to have major contracts to produce the Centrino-type chips. The market has been declining during the past three years because of the quad-core chips, which it cannot produce, so Zeus has the unpleasant task of forecasting next year. The task is unpleasant because the
Tucson Machinery, Inc. manufactures numerically controlled machines, which sell for an average price of$0.5 million each. Sales for these NCMs for the past two years were as follows.Quarter Quantity (Units) Quarter Quantity (Units)Last Year III III IV 12 18 26 16 This Year III III IV 16 24 28 18a.
Sales by quarter for last year and the first three quarters of this year were as follows:Quarter I II III IV Last year $23,000 $27,000 $18,000 $9,000 This year 19,000 24,000 15,000 Using a procedure that you develop that captures the change in demand from last year to this year and also the
The following are sales revenues for a large utility company for years 1 through 11. Forecast revenue for years 12 through 15. Because we are forecasting four years into the future, you will need to use linear regression as your forecasting method.Year Revenue (millions)1 $4,865.9 2 5,067.4 3
What forecasting technique makes use of written surveys or telephone interviews?TW-111
Which qualitative forecasting technique was developed to ensure that the input from every participant in the process is weighted equally?TW-111
When forecasting demand for new products, sometimes firms will use demand data from similar existing products to help forecast demand for the new product. What technique is this an example of?LO18-4
Often, firms will work with their partners across the supply chain to develop forecasts and execute production and distribution between the partners. What technique does this describe?TW-111
How many steps are there in collaborative planning, forecasting, and replenishment (CPFR)?TW-111
What is the first step in CPFR?TW-111
Consider using a simple moving average model. Experiment with models using five weeks’ and three weeks’ past data. The past data in each region are given as follows (week −1 is the week before week 1 in the table, −2 is two weeks before week 1, etc.). Evaluate the forecasts that would have
Next, consider using a simple exponential smoothing model. In your analysis, test two alpha values, 0.2 and 0.4. Use the same criteria for evaluating the model as in part 1. When using an alpha value of 0.2, assume that the forecast for week 1 is the past three-week average (the average demand for
Starbucks is considering simplifying the supply chain for their coffeemaker. Instead of stocking the coffeemaker in all five distribution centers, they are considering only supplying it from a single location.Evaluate this option by analyzing how accurate the forecast would be based on the demand
What are the advantages and disadvantages of aggregating demand from a forecasting view? Are there other things that should be considered when going from multiple DCs to a DC?TW-111
This is a type of forecast used to make long-term decisions, such as where to locate a warehouse or how many employees to have in a plant next year.TW-111
This is the type of demand that is most appropriate for using forecasting models.TW-111
This is a term used for actually influencing the sale of a product or service.TW-111
These are the six major components of demand.TW-111
This type of analysis is most appropriate when the past is a good predictor of the future.TW-111
This is identifying and separating time series data into components of demand.TW-111
If the demand in the current week was 102 units and we had forecast it to be 125, what would be next week’s forecast using an exponential smoothing model with an alpha of 0.3?TW-111
Assume you are using exponential smoothing with an adjustment for trend. Demand is increasing at a very steady rate of about five units per week. Would you expect your alpha and delta parameters to be closer to one or zero?TW-111
Your forecast is, on average, incorrect by about 10 percent. The average demand is 130 units. What is the MAD?TW-111
If the tracking signal for your forecast was consistently positive, you could then say this about your forecasting technique.TW-111
What would you suggest to improve the forecast described in question 10?TW-111
You know that sales are greatly influenced by the amount your firm advertises in the local paper. What forecasting technique would you suggest trying?TW-111
What forecasting tool is most appropriate when closely working with customers dependent on your products?TW-111
Explain what logistics is.LO15-2
Contrast logistics and warehouse design alternatives.LO15-2
Analyze logistics-driven location decisions.LO15-2
What motivations typically cause firms to initiate a facilities location or relocation project?LO15-2
List five major reasons why a new electronic component manufacturing firm should move into your city or town.LO15-2
Recent figures show that almost 60 percent of the volume of freight movements in the United States ship by truck. Railroads are far more fuel efficient on a ton-mile basis—CSX advertises it can move a ton of freight 468 miles on a gallon of fuel. Why is it that rail does not have a greater share
What is required to make cross-docking a viable solution for a logistics provider?LO15-3
What are the pros and cons of relocating a small or mid-sized manufacturing firm (that makes mature products) from the United States to China?LO15-2
How do facility location decisions differ for service facilities and manufacturing plants?LO15-2
If you could locate your new software development company anywhere in the world, which place would you choose, and why?LO15-2
Some manufacturing firms contract with an outside company to manage the firm’s logistics functions. What is the general term for a firm that provides such services?LO15-2
Logistics accounts for about what percent of the U.S. gross domestic product?LO15-2
What mode of transportation is involved in the movement of the greatest number of products?LO15-2
What mode of transportation is limited to specialized products such as liquids and gases?LO15-3
A manufacturer has decided to locate a new factory in the northwestern United States to serve the growing demand in that market. It has narrowed the potential sites down to two finalists: city A and city B. It has developed a list of important factors to consider in selecting a site, and rated each
Bindley Corporation has a one-year contract to supply motors for all washing machines produced by Rinso Ltd. Rinso manufactures the washers at four locations around the country: New York City, Fort Worth, San Diego, and Minneapolis. Plans call for the following numbers of washing machines to be
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