Describe different steps needed for proper decision making, Operation Management

Assignment Help:

Question:

Oceania Hospitals has recorded demand for heart transplant surgery over the past few years. The data is given in the following table:

182_Describe different steps needed for proper decision making.png

a) You have been hired as consultant to advise Oceania Hospitals. You are explaining to Oceania Hospitals the necessity of having an analytical and scientific framework with several systematic steps. Can you describe the different steps needed for proper decision making?

b) When Oceania Hospitals started operations 6 years ago a consultant has predicted that the demand in year 1 would be 41 surgeries. Use exponential to develop forecasts for years 2 through 6 with a constant of (i) 0.6 and (ii) 0.9

c) Use a 3-year moving average to forecast demands in years 4, 5 and 6.

d) What smoothing constant would you choose to get results similar to the 3-year moving average?

e) Compute the MAD for each of the three methods above for years 1 to 5 (years 4 & 5 only for 3-year moving average). Which method would you recommend?

f) What forecast will you make for year 6?


Related Discussions:- Describe different steps needed for proper decision making

Explain what will be the average tardiness of these orders, A single machin...

A single machine work center has five jobs assigned to it. They are labeled, in the order of their arrival in the shop, as jobs A, B, C, D and E. The work center may work on only o

Explain it is important to have a vision, It is important to have a vision....

It is important to have a vision. If you were Jerome Byrd, how would you prepare a new vision for your department?

Explain companies doing acquisitions and mergers in future, Based on your r...

Based on your research of the United and Continental Airline merger, evaluate the challenges experienced during the merger and the resulting impact to the business. Assess the effe

Order qualifiers - operations strategy, Order Qualifiers - Operations Strat...

Order Qualifiers - Operations Strategy These are not essential to winning business in their own right. They may however, determine the entry level whereby the organisation is

Explain why do you think unionism is on the wane, Why do you think unionism...

Why do you think unionism is on the wane? Do you think unions will ever regain their membership strength and political influence? What impact might this decline have on the America

Explain what is the multifactor percentage change in product, 1. Long Beach...

1. Long Beach Bank employs three loan officers, each working eight hours per day. Each officer processes an average of five loans per day. The bank's payroll cost for the officers

How marketing consultant brought in to help a company, Imagine you are a ma...

Imagine you are a marketing consultant brought in to help a company who has a product that is so successful they cannot keep up with customer demand. What questions would you as

Comparison between method and work measurement, Comparison between method a...

Comparison between method and work measurement: Method  study  is the  principle   technique  for reducing  the work  involved  primarily by eliminating unnecessary  movement

Explain how the government can implement information plan, Propose a plan f...

Propose a plan for how the government can implement information security plans to ensure its critical information is safe and protect.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd