Sales and Operations Planning, economics homework help

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Question Description

The forecasting department, traditionally reporting to the sale manager, has historically seen a forecast accuracy of about 60%, and this in turn causes problems for the following departments:

  • Purchasing: What should we buy and how much?
  • Production: What should we really build?
  • Inventory management: We keep building the wrong thing.

The sales manager asked you to write her a memo, specifically addressing the following:

  • How could you suggest that your new system would achieve any better levels of forecast accuracy?
  • Why is forecast accuracy itself not as important under traditional methods?
  • Create a chart or timeline that includes all of the following:
    • Which purchase orders have to be placed, and when
    • When manufacturing needs to begin, to have products delivered to a customer
    • Approximate dates for all of the following:
      • When the product must be shipped to meet the customer's due date
      • When the application of the cover and packaging must take place to meet the customer's due date
      • When the manufacturing of the widget must begin and end
      • When the raw material for the widget must be ordered
      • When the plastic cover must be ordered
      • When the cardboard box must be ordered
    • Includes notes explain your timing calculation
    • Assumes all of the following conditions:
      • The factory has two departments: manufacturing and packaging
      • Product X consists of 3 components
      • a widget manufactured in the factory with a total manufacturing lead time of 1 week
      • a plastic cover purchased from vendor A with a procurement lead time of 3 weeks
      • a cardboard shipping box purchased from vendor B with a procurement lead time of 4 weeks
      • The widget itself is made from steel (whose lead time from vendor C is 4 weeks).
      • It takes 1 day for the cover to be applied to the product and for the product to be inserted in the box in the packaging department.
      • The shipping time to this customer is in 3 weeks, and you do not want it to be late or early.
      • Assume you received the customer order on 1/1/20XX.
      • Ignore any holidays
      • Assume a 5-day work week
      • The customer requires the product to arrive at his location on 3/31/2011

Tutor Answer

MurphyW
School: University of Maryland

The separate attachment contains the completed work. Kindly check it out and let me know if there is anything you'd like done to it. I'll be here all through.
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Sales and Operations Planning
Traditional methods of reporting are prone to errors and are likely to lag behind in terms
of relevance in the event that they are used to address current or modern issues in an
organization. This is because the modern systems do not require old fashioned, traditional
reasoning but rather vibrant modern solutions that go in line with emerging trends. To achieve
better results with the forecasting system, it is important to first note that the solution being
sought should be in line modern times (Nolte & Matthew, 2015). A lot of factors should also be
considered so as to come up with better forecasts in the future. Some of the things to consider in
the quest of achieving better results include checking the functionality and feasibility of the plan,
considering the timeframe, budget and workforce, ensuring keenness and alertness as well as
being sensitive to the system’s vulnerable qualities so that the desired result may be acquired
(Tho...

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Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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