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Chapter 4: 9OQ (page 441)
Question: What part of SAP gives users personalized access to a range of information, applications, and services supported by the system?
Answer
The Enterprise Portal is part of SAP which gives users personalized access to a range of information, applications, and services supported by the system.
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Question: Under which conditions would a plant manager elect to use a fixed order quantity model as opposed to a fixed鈥搕ime period model? What are the disadvantages of using a fixed鈥搕ime period ordering system?
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 | 85 |
a. Calculate the simple three-month moving average forecast for periods 4鈥�12.
b. Calculate the weighted three-month moving average using weights of 0.50, 0.30, and 0.20 for periods 4鈥�12.
c. Calculate the single exponential smoothing forecast for periods 2鈥�12 using an initial (F1) of 61 and anof 0.30.
d. Calculate the exponential smoothing with trend component forecast for periods 2鈥� 12 using an initial trend forecast (T1) of 1.8, an initial exponential smoothing forecast (F1) of 60, and of 0.30 andof 0.30.
e. Calculate the mean absolute deviation (MAD) for the forecasts made by each technique in periods 4鈥�12. Which forecasting method do you prefer?
In the past, Taylor Industries has used a fixed鈥搕ime 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 stockrooms, yet without increasing other costs, such as shortage costs. Here is a random sample of 20 of Taylor鈥檚 items.
a. What would you recommend Taylor do to cut back its labor cost? (Illustrate using an ABC plan.)
b. Item 15 is critical to continued operations. How would you recommend it be classified?
Palin鈥檚 Muffler Shop has one standard muffler that fits a large variety of cars. The shop wishes to establish a periodic review system to manage the inventory of this standard muffler. Use the information in the following table to determine the optimal inventory target level (or order-up-to level).
Annual demand | 3,000 mufflers | Ordering cost | \(50 per order |
The standard deviation of daily demand | 6 mufflers per working day | Service probability | 90% |
Item cost | \)30 per muffler | Lead time | 2 working days |
Annual holding cost | 25% of the item value | Working days | 300 per year |
Review period | 15 working days |
a. What is the optimal target level (order-up-to level)?
b. If the service probability requirement is 95 percent, the optimal target level [your answer in part (a)] will (select one):
I. Increase.
II. Decrease.
III. Stay the same.
Dunstreet鈥檚 Department Store would like to develop an inventory ordering policy with a 95 percent probability of not stocking out. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets. The demand for white percale sheets is 5,000 per year. The store is open 365 days per year. Every two weeks (14 days) inventory is counted and a new order is placed. It takes 10 days for the sheets to be delivered. The standard deviation of demand for the sheets is five per day. There are currently 150 sheets on hand. How many sheets should you order?
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