top answer:   You have recently been assigned to the production planning department within your company.  Your f

  

 

You have recently been assigned to the production planning department within your company.  Your firm makes large blades for power generation windmills. The windmills are mostly used in the western part of the country and take about a week to build.

Don't use plagiarized sources. Get Your Custom Essay on
top answer:   You have recently been assigned to the production planning department within your company.  Your f
Just from $10/Page
Order Essay

Your boss has provided you with the monthly demand for blades from the last year and asked that you produce a forecast for January so that he can work with the material planning and scheduling department to make sure that the required materials are on hand and schedule the workers hours.

By the end of the week, your boss has asked you to produce a professional video presentation with all of the needed data so that he can brief his boss on your findings.

Using the data provided, produce forecasting models using the following:

 

Questions to be addressed

  1. While the MAD can be used to determine which forecasting method is the most accurate, normally, the MAPE is a better measure. So, compare the MAPE of the three methods and determine which is the best model (e.g. the most accurate).
  2. Base on the chosen model, what should you recommend to your boss as the forecasted demand for January?
  3. Produce a line chart that shows all three of the forecast and the actual demand.
  4. Review the chart and the data. Do you think that the forecasts have given you an accurate result? Do you notice any trends in the data that could affect the January forecast? If so, what would you recommend to your boss?

Forecasting Models

  • Simple Moving Average (on a 4 month moving average)
  • Weighted Moving Average (4 month moving average with weights = 0.4, 0.3, 0.2. 0.1)
  • Exponential Smoothing (α = 0.3) (assume forecast for January is the same as the actual demand)Simple Moving Average (on a 4 month moving average)
  • Weighted Moving Average (4 month moving average with weights = 0.4, 0.3, 0.2. 0.1)
  • Exponential Smoothing (α = 0.3) (assume forecast for January is the same as the actual demand)

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more
colle writers

Order your essay today and save 30% with the discount code ESSAYSHELP