What are the importance of resources forecasting.

Answers

Answer 1
Forecasting plays an important role in operations management.Forecasting means to make a detailed analysis of future by making assumptions about it. It is an art and science of predicting what will happen in the future.
sometimes it is done by mathematical method and sometimes by the intuition of the operations manager. The importance of forecasting by the following
concepts:
Qualitative approach: It uses factors such as
experience, instinct and emotion.
Quantitative analysis: It depends heavily on
mathematics, historical data and casual variables.
Mixed methods: A method of forecasting a
company's future performance by using different methods by using a single analyst or a series of them.
Forecasting demand: It is a process in which sales data is used to estimate costumer demand, demand forecasting helps the business estimate the total sales and revenue for a future period of time.
Delphi: In this method decision makers and
respondants all meet to develop forecast. Every
share holder in the process provides input.
Forecasting accuracy: There are so many
standards to determine forecast accuracy. The
commonly used metrics are:
Mean Absolute Deviation: ( Actual-forecast) and
Mean Absolute Percent Error = 100 * ( actual-
forecast/ actual)
Trends and patterns: It is done by looking at
possible trends from the data of past sales or
market growth and use the information to
extrapolate what could happen in the future.
Inventory forecast analytics: It is mathematical
and statistical procedures.
Optimized purchase orders: The materials
planning system generates delivery schedule lines against existing scheduling agreements.
Inventory control: The process of ensuring that
the appropriate amounts of stock are maintained by a business to meet cosumer demand without delay by keeping holding stock minimum. Forecasting and inventory management will help in predicting about future of business and making sure sufficient inventory is present to meet the public demand.

Related Questions

Inter1. Interview a business owner/manager on the crisis experienced in the workplace

Answers

The outcome of the interview shows that the crisis experienced in the workplace is due to:

Financial CrisisPersonnel CrisisOrganizational CrisisTechnological Crisis, etc.

What is a business crisis?

This is known to often take place when an unexpected issue comes up and puts the stability of a company or firm at risk.

Therefore, The outcome of the interview shows that the crisis experienced in the workplace is due to:

Financial CrisisPersonnel CrisisOrganizational CrisisTechnological Crisis, etc.

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Susan observed that the advertisement of a competitor of her company was deceptive. She decided to complain about the advertisement to the proper authorities. This led to a dispute between her company and the competitor. Which agency is likely to solve the dispute between Susan’s company and the competitor? The is likely to solve the dispute between Susan’s company and the competitor.

Answers

The agency that is likely to solve the dispute between Susan’s company and the competitor is the Federal Trade Commission.

What is an Advertisement?

This refers to the creation of awareness about a particular good or service to potential customers by listing the benefits of using the good or service.

Hence, we can see that based on the fact that the advertisement of a competitor is believed to be deceptive by Susan, she makes a formal complaint, and the agency that can solve this dispute is the Federal Trade Commission.

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Answer:

Federal Trade Commission

Explanation:

These are the guys that solve disputes between companies.

business entities that operare in a dual market structure​

Answers

Business entities that operate in a dual market structure​ is termed as Duopoly.

What is Duopoly?

A duopoly is a market situation that entails two competing companies that share the market. A pure duopoly is a market where there are just two firms.

A duopoly exists when two companies dominate a market for a given product or service. A duopoly can have the same impact on the market as a monopoly if the two players collude on prices or output.

Hence,  dual market structure operated by Business entities is termed as Duopoly

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Wise Company had the following transactions.

1. Issued 7,000 shares of common stock with a par value of $10 for $130,000.

2. Issued 2,000 shares of $100 par preferred stock at $108 for cash.

3. Purchased 500 shares of treasury stock for $20 per share

4. Sold treasury 250 shares of treasury stock at $22 per share



Instructions

Prepare the journal entries to record the above stock transactions.

Answers

The preparation of the Journal Entries to record the stock transactions of Wise Company is as follows:

Journal Entries:

1. Debit Cash $130,000

Credit Common Stock $70,000

Credit Additional Paid-in Capital- Common Stock $60,000

To record the issuance of 7,000 shares at $10 for $130,000.

2. Debit Cash $216,000

Credit Preferred Stock $200,000

Credit Additional Paid-in Capital- Preferred Stock $16,000

To record the issuance of 2,000 shares of $100 at $108.

3. Debit Treasury Stock $5,000

Debit Additional Paid-in Capital- Common stock $5,000

Credit Cash $10,000

To record the purchase of 500 shares at $20.

4. Debit Cash $5,500

Credit Treasury Stock $2,500

Credit Additional Paid-in Capital- Common Stock $3,000

To record the sale of treasury shares at $22.

Transaction Analysis:

1. Cash $130,000 Common Stock $70,000 Additional Paid-in Capital- Common Stock $60,000

2. Cash $216,000 Preferred Stock $200,000 Additional Paid-in Capital- Preferred Stock $16,000

3. Treasury Stock $5,000 Additional Paid-in Capital- Common stock $5,000 Cash $10,000

4. Cash $5,500 Treasury Stock $2,500 Additional Paid-in Capital- Common Stock $3,000

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A company purchased equipment for $ 2,000 cash. the seller stated that the equipment was worth $ 2,400. at what amount should the equipment be recorded? at $ 2,000 or $2,400? justify your answer​

Answers

2,400 is the correct answer

What term refers to the power of the government to tax and spend to achieve
economic goals?
A. Fiscal policy
B. Discretionary spending
C. Monetary policy
D. Economic efficiency.

Answers

The answer is A Fiscal policy

Chris is a project manager. He has just completed the project-execution phase. What tasks does he need to
complete during the next phase of the project? CHECK ALL THAT APPLY

Create a project schedule

Send out the project review report

Give the deliverable to the customer

Conduct a risk assessment

monitor and control the project

Build the deliverable

Back up important project documents

Conduct the project review

Answers

As a project manager, it is important for Chris to review the technicalities of the project and then building the deliverables in such a way that they can be given to the customer.

Who is a project manager?

A project manager is a professional who is involved in completion of a project being assigned to him in the organization with the help of resources available at his end.

After the execution of a project has been completed, a review must be done for the project, after which important backups of the project must be made.

This shall be followed by project review report must be sent to the respective authorities. Finally, deliverables are to be built and given to the customer as per their requirements.

Hence, options B, C, F, G and H hold true regarding the next phases to be completed by Chris as a project manager.

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Explain how the open market works through the balance sheet of the central bank and related entities?

Answers

Answer:

Open market operations (“OMOs”) are the central bank's primary tool of monetary policy. If the central bank wants interest rates to be lower, it buys bonds. Buying bonds injects money into the money market, increasing the money supply.

What is true about open-end credit? A. It is not typically used for a single purchase but for many purchases over a period of time. B. This type of credit is sometimes referred to as a consumer loan. C. This type of credit is commonly used for big ticket things like mortgages or car loans. D. Payments typically stay the same amount from month to month

Answers

The option A and D is true about open-end credit because they mention that,

A) It is not typically used for a single purchase, but for many purchases over a period of time.

D) Payments typically stay the same amount from month to month.

What is open end credit?

Open-end credit, also called revolving credit, can be defined as a line of credit that gives the borrower a certain limit of credit and the ability to frequently borrow as little or as much of that money and repay any amount utilized below the set limit within a specified period.

With an open-end credit, the borrower has access to the whole credit limit, or full amount, once approved.

Thus, option A and D are true.

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Identify the tasks performed by workers in a Production career. Choose all that apply. cleaning and maintaining equipment and tools managing budgets and costs feeding materials into machines, and removing materials from machines researching and comparing prices of products and services checking and testing products or parts designing and enforcing safety procedures to the environment

Answers

Answer:

The task that is performed by the worker in the production department is cleaning and maintaining equipment and tools, feeding material into machines, removing materials from machines and checking and testing products or parts.

What is the production career?

Production personnel, in particular, are in charge of creating the final products. The labor of the production uses different types of equipment and parts of the machinery to allocate them in a systematic way. Others may work on a conveyor belt line, where each employee is responsible for their duty.

Thus, maintaining equipment, feeding materials to machinery and testing and checking parts are the right option

Explanation:

The first thing you should do when you receive a job application is read the entire document before you begin
completing it.
True
False

Answers

[tex]Answer[/tex]:-

The first thing you should do when you receive a job application is read the entire document before you begin

completing it.

[tex]True[/tex]

I’d like to be a web developer,” says Cyrus. “But I don’t know if I want to spend my career at a big company.” What is the BEST advice to give Cyrus?

A.
“Demand for that career is falling. You may not have a choice but to work for a big company.”
B.
“Actually, most web developers work remotely or at small companies.”
C.
“Big companies aren’t so bad when you get used to them.”
D.
“Don’t worry! Web developers work at companies of all sizes and can even work freelance.” HELP ASAP

Answers

Answer:

D

Explanation:

I think D is the most appropriate , since developers can technically work at any company , and a good percentage work in freelancing .

Also for answer B it specified that web developers work either at small companies or remotely , which is not limited to only these two... hope this helps.

Receiving a payment from a debtor on account would affect the Accounts Receivable with a __________ entry.

A. Debit
B. Credit

Answers

Answer:

Credit.

Explanation:

o Explain how an auction to sell the Wells Fargo consumer-facing banking division might be used to determine the value of the division.

Answers

Assuming Wells Fargo wants to identify changes in public opinion impacting the firm, it should conduct Environmental monitoring.

What is Environmental monitoring?

Environmental monitoring can be defined as the method of observing or monitoring an environment using specialized techniques.

Environmental monitoring is important as it can help to study the environment by providing accurate and necessary information needed about the surrounding, including the impact an activity has on an environment.

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Research title related to ABM​

Answers

Answer:

They are: business, marketing, accounting, project management, and human resources.

Hope it helps...

If you convinced your principal to cancel an assembly because of a political
concern, what would this situation be an example of?
A. Drawing conclusions
O B. Prediction
O C. Rhetoric
O D. Generalization

Answers

Answer:

I believe the answer is C (Rhetoric).

Explanation:

Rhetoric refers to the art of persuasion. According to the question, the principal was convinced to cancel an assembly due to a political concern.

Which view is represented below?

Datasheet view
Design view
PivotChart view
PivotTable view

Answers

Answer:

Datasheet view is represented

Answer:

Datasheet view is the answer

Explanation:

A datasheet is a useful way of viewing data in Acces.Most importantly,datasheet view allows a user to view many table records at the same time.In datasheet view,information is displayed in rows and columns-similar to a spreadsheet.Records are displayed as rows,so each row is an individual record.

Toyota Motor Credit Corporation (TMCC), a subsidiary of Toyota Motor Corporation, offered some securities for sale to the public on March 28, 2008. Under the terms of the deal, TMCC promised to repay the owner of each security $100,000 on March 28, 2038, but investors would receive nothing until then. Investors paid TMCC $24,099 for each of these securities; so they paid $24,099 on March 28, 2008 for the promise of a $100,000 payment 30 years later. Why would TMCC be willing to accept such a small amount today ($24,099) in exchange for a promise to repay about four times that amount ($100,000) in the future? A feature of this particular deal is that TMCC has the right to buy back the securities on the anniversary date at a price established when the securities were issued. What impact does this feature have on the desirability of this security as an investment?

Answers

To avoid the confusion, normal equation will be like this,

24,099*(1+r)³°=100,000

Solving for r we get,

r=4.8576%

What are securities?

The term "security" refers to a fungible, negotiable financial instrument that holds some type of monetary value. It represents an ownership position in a publicly-traded corporation via stock; a creditor relationship with a governmental body or a corporation represented by owning that entity's bond; or rights to ownership as represented by an option.

Securities can be broadly categorized into two distinct types: equities and debts. However, some hybrid securities combine elements of both equities and debts.

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The investment with the highest risk is ____.
A. government bonds
B. stocks
C. mutual funds
D. real estate

Answers

The investment with the highest risk is known as the C. mutual fund.

What is a mutual fund?

It should be noted that a mutual fund simply means investing in securities, bonds, ad debt by the company.

Therefore, the investment with the highest risk is known as the mutual fund.

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Answer:

B. Stocks

Explanation:

Stocks do not guarantee giving return to the visitor, and they are easy to lure people into scams.

Define marketing and the marketing concept.

Answers

Answer:

Marketing is the process of getting the right goods or services or ideas to the right people at the right place, time, and price, using the right promotion techniques and also utilizing the appropriate people to provide the customer service associated with goods, services, or ideas...

Which of the following is an example of a secured loan?

A. A student loan
B. A personal loan
C. A car loan
D. A credit card

Answers

A or D I think.. sorry if I’m wrong

You are working for an organization that provides clean water technology to communities in Africa. They have never worked in Malawi, but want to and need to understand how consumers source water, how they prepare it (sterilize or clean it), and how they use it. You know that a study was done on water sources, water preparation, and water uses in Kenya. ● What type of research would the Kenya study be considered and how would you go about validating its findings for Malawi (a different country in Africa)? How would your answer change if your organization was considering a community in a remote area of Nicaragua?

Answers

The research type of the Kenya study would be qualitative, and to validate its findings in Malawi it would be necessary to apply new research in the region.

What is qualitative research?

It corresponds to an approach that considers subjective aspects of human behavior and society, related to cultural and historical individualities of a population.

Therefore, according to the analysis of the case, it would be essential that for each challenge in the search to understand the behaviors of a different country in relation to water, a new qualitative research was developed.

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The drawings account receives a __________ entry when the owner withdraws money for personal use.

A. Debit
B. Credit

Answers

B. Credit

Hope this helps :)
The drawings account receives a DEBIT entry when the owner withdraws money for personal use.

Option A

Hope this helps you :))

The potential benefits a person or business gives up when making an
economic decision is called the
O A. profit margin
B. capital investment
C. opportunity cost
O D. production possibility

Answers

The potential benefits a person or business supplies when getting an

economic decision is called the opportunity cost.

What is an opportunity benefit in economics?

Opportunity cost is the decision that one takes in order to get something. The benefit is the decision that a person gives in personal or professional life.

If the outcome of the decision is in favor than the opportunity cost is in benefit and if the decision has consequences than the opportunity cost is in loss.

Thus, option C is correct.

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20 points easy …………………….

Answers

Answer:

D.....................................

How do objectives make it more likely that you will reach your goals? A. Objectives help guide your career choices. O B. Objectives are the best way to assess your interests. C. Objectives provide a step-by-step path to success. D. Objectives are based on others' experiences. S​

Answers

Hmm definitely c i think it is

informal organizations arise spontaneously as people associate with one another

Answers

Answer:

If this is a true/false then I would say true.

Should firms require higher rates of return on foreign projects than on identical projects located at home? Explain.

Answers

Probably yes coming from s middle schooler yes because it will be good to work in you house because it’s a better and comfortable environment

Wesley has asked his assistant to prepare an income and expense statement for a meeting. Which costs can the assistant include in the
operating expenses in the statement?
OA. loan payments
OB. taxes
OC. cost of land purchase
O D.
cost of the purchase of heavy machinery
OE inventory expenses

Answers

The cost that the assistant can include in the operating expenses in the statement include:

A. loan paymentsB. taxesD. cost of the purchase of heavy machineryE inventory expenses

What are operating expenses ?

An expense a business faces as a result of ongoing operations is referred to as an operating expense. Operating expenses, which are frequently referred to as OPEX, include rent, tools, inventory costs, marketing, payroll, insurance, step charges, and money set aside for R&D.

Operating expenses, which are frequently referred to as OPEX, include rent, tools, inventory costs, marketing, payroll, insurance, step charges, and money set aside for R&D.

Loan payments, taxes, and inventory expenses should therefore be included by Wesley's assistant.

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Suppose you are the manager of a company and must decide whether to outsource your Human Resources department.

Based on the information above, please outline arguments supporting and opposing a decision to outsource this function of your business. Use the IRAC method to outline your argument

Answers

IRAC method is used in outsource the human resource department for the company, as it helps the company to understand the types of employees they needs with the issue, rule, analyze and go to conclusion with the hiring the human resource department.

What is meant by human resource department?

Human resource department is the department in the organization that facilitates the company to employee the best and suitable candidate for the vacancy.

They take the interview before finalizing the candidate and check the capability of the candidate and evaluate the skills according to the demand of company.

Thus,IRAC method is used in outsource the human resource department for the company.

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