Fall 2017 Supply Chain Management MNGT 334-01 Individual Assignment #3 Instructi
ID: 365865 • Letter: F
Question
Fall 2017 Supply Chain Management MNGT 334-01 Individual Assignment #3 Instruction Please note you have to show all your calculation processes in order to get a full credit. Some tips would be given in class. Please submit this assignment by November 14, 2017. 1. Lauren's Beauty Boutique has experienced the following weekly sales Week Sales 432 396 415 458 460 4 Forecast sales for week 6 using the nalve method, a simple avcrage, and a three period moving average. 2. Rosa's Italian restaurant wants to develop forecasts of daily demand for the next week. The restaurant is closed on Mondays and experiences a seasonal pattern for the other six days of the week. Mario, the manager, has collected information on the number of customers served each day for the past two weeks. If Mario expects total demand for next week to be around 350, what is the forecast for each day of next week? Number of Customers Week 1 52 Day Tuesday Wednesday36 Thursday Friday Saturday Sunday Week 2 48 32 30 97 35 89 98 65 69Explanation / Answer
1.
Naïve method: In naïve method forecast for the present period is the actual data of the previous period
Forecast for week 6 = Actual sales on week 5 = 460
Simple average is the average of previous all periods actual data
Forecast for week 6 = (432+396+415+458+460)/6 = 2161/5 = 432.2
Three period moving average is the average of previous three-period actual data
Forecast for week 6 = (460+458+415)/3 = 1333/3 = 444.33
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.