Why is forecating needed in an organization. What are the tools operations managers use when forecasting. Please elaborate response by providing real life examples or properly cited academic references.
Want to see the full answer?
Check out a sample Q&A here


Related Operations Management Q&A
Find answers to questions asked by students like you.
Q: Why can't Petrie's staff design their own unique system internally?
A: Petrie' staff Dr. Petrie was one of the initial publishers of the WWW Virtual Library, this same…
Q: A local supermarket wants to determine how many cashier stations should be open to accommodate…
A: Observation Cashier Idle 1 3 2 0 3 1 4 4 5 2 6 0 7 2 8 2 9 0 10 3 11 3 12 1…
Q: You are brand manager at Arrow Cosmetics and responsible for Silkskin body lotion. Silkskin's annual…
A: Find the Given details below: Given details: Annual contribution 2.1 million Variable cost…
Q: The practice of analyzing large databases in order to generate new information is known as…
A: Ans) This term is known as data mining. Analysing big to get new insights is known as data mining.…
Q: Type the linear program, optimal solution, and objective function value in a word document. Submit…
A: Click to see the answer
Q: Draw BOTH the arrow and node networks for the project given in the table. Activity IPA H C, D I D J…
A: The path with the longest duration is the critical path.
Q: 1. Concisely describe the term Operation Management.
A: As per Bartleby guidelines, we can only solve one question at a time...Kindly upload the other…
Q: (a) What is the contribution margin from this special offer? (b) Should the Bikers’ Club offer be…
A: Room rate per night 118 Variable Cost 110 Contribution margin 8 Number of nights 1 Number of…
Q: Wolfgang Kersten Mfg. intends to increase capacity through the addition of new equipment. Two…
A: For the proposal X Fixed cost(FC)= 150,000 Variable cost(VC) = 120 For the…
Q: [item no.15] A company uses the production run model to determine the number of t-shirts that must…
A: Click to see the answer
Q: Consider the following decision matrix presenting net profit/loss estimates regarding an investment…
A: “Since you have posted a question with multiple sub-parts, in which subparts also consists of…
Q: Refer to the figure below relating to a commercial printer (customer) and the company that supplies…
A: A relationship chart describes the relationship between two departments or activities. Based on the…
Q: 1. Describe the NBS supply chain. 2. How critical is stock-outs in the operations of UK’s NBS? 3.…
A: 1. NBC stands for national blood service the main purpose of this department is to provide blood…
Q: The consulting agency begins collecting data on actual population demand utilization. The first year…
A: Click to see the answer
Q: What is an example of the learning curve for a business operation where the average costs were…
A: A learning curve would be a mathematical notion that illustrates visually how a process improves…
Q: A manufacturer of Protex soap must determine whether or not to expand his productive capacity. His…
A: Find the Given details below: Given details: Do not Expand Expand High Demand 5000 7500…
Q: A bicycle component manufacturer produces hubs for bike wheels. Two processes are possible for…
A: Production is the process in which inputs are combined to have the required output. It includes a…
Q: Customers are served in a process with two resources (workers in each resource work independently).…
A: Capacity of any process is equal to the capacity of its bottlenck resource.
Q: A company is considering a new product launch. There is a 0.6 chance that demand for the product…
A: Decision trees are a popular technique to take a complex decision and break it down into simpler…
Q: (a) Formulate and solve a linear programming model for this make-or-buy application. (Let FM =…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: Describe a job (e.g. lawyer, engineer, etc.) you would like to do in the future. Choose FIVE ideas…
A: Skills can be stated as the approach that helps in enhancing the development of a professional…
Q: 3. The cost of carrying one unit in inventory for a specified period of time, usually one year, is…
A: Carrying cost of inventory is holding cost which refers to the total cost of holding inventory for…
Q: 17. When a firm hires another company to perform legal services in India due to low cost, it's an…
A: Global supply chain management can be stated as the delivery and distribution of goods and services…
Q: The Manvi Motors of Malaysia produces cars under an agreement with Suzuki of Japan and trucks under…
A: Objective Functions and Constraints: Based on the given details, the objective…
Q: Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the…
A: Given, Price Number Sold 2.5 765 3.6 515 2.1 975 4.1 245 3.1 315 4.05 490
Q: The following is given: $8.00/unit $4.00/unit $56,000 a) Based on the given information, the…
A: Break even point is calculate fixed cost divided by contribution margin Formula for Break even…
Q: Coordination is a process to achieve unity of action. In light of this statement discuss the…
A: Coordination is simply the sync between different employees and groups to work together in harmony…
Q: Define plagerism and give wxam
A: Copyright can be stated as the legal term that is used to define the rights of the creators or…
Q: Annie tells her granddaughter, Mary, that in 1934 you could buy a house for $ 17,000 and a jacket…
A: CPI value is rise from past year to present year when CPI rise it also price the value of property…
Q: Automobile manufacturers view the assembly-line workers as Group of answer choices labor services.…
A: An assembly line can be stated as the production approach that breaks down the production and…
Q: Simply and simply describe the idea of project scope
A: Project Scope The word "project scope" is used to describe the breadth of a project in terms of its…
Q: Contrast the terms strategies and tactics.
A: Now a day, strategy and tactics are both useful for business purposes. However, in the past time, it…
Q: A. A newspaper is bought for Rs. 5 from a shopkeeper and sold at Rs. 10. Any unsold newspaper for…
A: Find the Given details below: Given Details: Mean (Average Demand) 50 Newspapers Standard…
Q: A business wants to decide whether to launch a new product. If the product is launched there are two…
A: Decision tree helps in taking the right decision which can reduce costs and increase profits.
Q: What are some of the operational challenges that Sims Metal Management could face?
A: Introduction: In this introduction, we will cover the governance components of Sims Metal and the…
Q: List two benefits of outsourcing to a company during the development of an IT/IS project. Define…
A: By contracting with an outside party to do an otherwise in-house task or provide an entirely new…
Q: ENUMERATE 10 POSITIVE RESULTS YOU CAN EXPECT IF INVENTORY WILL BE PROPERLY OR EFFECTIVELY MANAGED.…
A: Inventory management refers to planning and controlling the goods in an optimal manner such that the…
Q: When several processes are taking place at once, how does the capacity analysis respond?
A: Capacity analysis react when many processes are running in parallel People who work in production…
Q: Which of the following statements about just-in-time deliveries is/are true? select one or more: a.…
A: In Just-in-Time philosophy, the material is pulled through the system instead of being pushed. This…
Q: Find solution using simplex method. Maximize z = 4x₁ + 3x₂ Subject to the constraints 2x₁ + x₂ ≤…
A: Linear Programming is a mathematical and statistical technique used in operations that help…
Q: Constraints limit the degree to which the objective in a linear programming problem is satisfied.…
A: Linear programming is a mathematical modelling technique where the linear function is either…
Q: Which of the following legal forms of business, (sole proprietorship, partnership, corporation),…
A: Note -Hi! Thank you for the question, As per the honour code, we are allowed to answer three…
Q: The following is a table of activities associated with a project at Ratay Ishfaq's software firm in…
A: Given data:
Q: Do you think this is true? Supply chain management systems are outside oriented, while enterprise…
A: Analysts in the field of supply chain management generally agree that in order for businesses to…
Q: the business is a health consulting office with a gym and a health restaurant. What are the industry…
A: To be determined: The business is a health consulting office with a gym and a health restaurant.…
Q: Select the best answer for the question. 12. Customers like to choose the color of their cars.…
A: In designing process structure in manufacturing, three parameters are considered. These parameters…
Q: Explain how does the earning forecast is ef- fective in assessing company performance?
A: To be determined: How the earning forecast is effective in assessing company performance.…
Q: duct line includes 8 different product styles, each consisting of 93 components. Assume that 9…
A: Ans) Plant operates 52 hours a week and 52 weeks in year. Thus, Total Number of hours in a year =…
Q: Solve the following LP by using Excel. State the Optimal Solution and the Objective Function Value.…
A: Linear programming is a mathematical technique that is also used in operations management…
Q: A company periodically produces a part that is a basic component of an assembled product. Each time…
A: The part period method is a planning method in which the objective is to balance set up cost and…





