kindly share solution is
Production Planning and Inventory Control (MGMT617)Production Planning and Inventory Control (MGMT617)
Semester: Fall 2020 Assignment No. 1Due Date: December 17, 2020 Total Marks: 10
To reinforce the concept of Demand Management and Forecasting.
Scenario:Sales for the past 12 months at XYZ Company are given here.
Months Sales ($ millions) Months Sales ($ millions)January 20 July 53February 24 August 62March 27 September 54April 31 October 36May 37 November 32June 47 December 29
1. Use a 3-month weighted moving average to forecast the sales for the months April through December. Use weights of (3/6), (2/6), and (1/6), giving more weight to more recent data.(3 marks)
2. Use exponential smoothing with α = 0.6 to forecast the sales for the months April through December. Assume that the initial forecast for January was $22 million. Start error measurement in April.
3. Compare the performance of the two methods by using the mean absolute deviation (MAD) as the performance criterion, with error measurement beginning in April. Which method would you recommend?
Instructions:• You are required to show the necessary calculations in solution.
• No theoretical definitions and explanations are required.• Watch video lectures and consult book/notes to complete the assignment.
24 hours extra/grace period after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.
Deadline:• Make sure to upload the solution file before the due date on VULMS. • Any submission made via email after the due date will not be accepted.
Formatting Guidelines:• Use the font style “Times New Roman” or “Arial” and font size “12”.• It is advised to compose your document in MS-Word format.• You may also compose your assignment in Open Office format.• Use black and blue font colors only.
Use APA style for referencing and citation. For guidance search “APA reference style” in Google and read various websites containing information for better understanding or visit
Rules for MarkingPlease note that your assignment will not be graded or graded as Zero (0), if:
• Any of the given instructions are not followed.• It is copied or plagiarized.• It is submitted after the due date.• The file you uploaded does not open or is corrupt.
response sir tariq
HOPE SO SIR TILL 10PM
PLEASE DO THE NEEDFULL TO SETTLE TIMELY
|Sales for the past 12 months at XYZ Company are given here.|
|Month||SALES(At)||3 Month Weight moving avg||ESMOOTHING(Ft)||error|||error||
|Note that for Calculating Exponential smooth value first given forcaseting 22|
|Exponential Smoothing FORMULA'||Weightage More recent more weitght basis||0.5||0.3||0.2|