- 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.
Assignment Question(s): (Marks 5)
An Electronic Company estimates the annual demand for a certain product as follows:
- Forecast the demand for week 7 using a five-period moving average? (Marks 1.5) (word count maximum:100)
- 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)
- 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)
- What assumptions are made in each of the above forecasts? (Marks 0.5) (word count maximum:150)