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.

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  • Assignment Question(s):(Marks 5)

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Question :

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An Electronic Company estimates the annual demand for a certain product as follows:

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Week   

1

2

3

4

5

6

Demand   

649

524

561

738

515

598

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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 ? 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)

Explanation & Answer length: 450 Words

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