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The production manager at company XYZ needs to prepare forecasts of product demand in order to plan for appropriate production quantities. In the past, demand for the product has been strongly dependent on the effort put in advertising and promoting the product. To show this, the marketing manager has compiled the data below on sales (in thousands of units) and advertising budget (in thousands of $) over the past 5 months. The marketing budget allocated to this product in the next month is $3,500. Use linear regression to develop an equation for the relationship between unit sales and advertising $, and generate a forecast for this product. Months sales advertising (thousands of units) (thousands of $) 1 264 50 2 116 26 3 165 28 4 101 20 5 209 40 6? 35
What do you understand by “line balancing”?
The forecasted demand for fudge for the next four months is 140, 160, 90 and 70 pounds. A) What is the recommended production rate if a level strategy is adopted with no back order
Lowest Cost Entry method s( LCEM) or Matrix Minima Method: Step1: Determine the smallest cost in the cost matrix of the transportation table. Let it be ( C ij ). Allocate
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1. Custom Computers, Inc. assembles custom home computer systems. The fan assemblies needed are bought for $24 each and are ordered in quantities of 1500 units. Annual demand is 75
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