How could they improve the accuracy of their forecasts

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Reference no: EM133441133

Questions: GE healthcare: Managing magnetic resonance operations with your group, answer the questions below and submit a joint answer:

- How could they improve the accuracy of their forecasts to reduce uncertainty?

- Any strategies to better match supply with demand? Justify with some what-if analysis.

- Any suggestions to consolidate logistics to make the supply chain more efficient (remember fixed costs)?

Provide the rationale for your suggestions with as much detail as possible. Using the forecast and actual demand data from Q2 2012 till Q4 2017, give measures of the accuracy of the forecasts (for 6 months out, 2 months out). Use the news-vendor model to determine optimal make-to-stock production quantity to maximise expected profits. Assume the profit margin is 20% and the loss of not selling is 6.5% of the wholesale price.

Reference no: EM133441133

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