Describe the concept of operations functions, supply chain strategy, process selection, forecasting, capacity planning, production forecast methods and schedule operations | Assignment Help

• Describe the concept of operations functions, supply chain strategy, process selection, forecasting, capacity planning, production forecast methods and schedule operations.
• Demonstrate process-flow analysis, process design solutions, operations strategies, Inventory Control System and customer services in the business operation.

Assignment Question(s):                                                         (Marks 5)

Question 2:

An Electronic Company estimates the annual demand for a certain product as follows:

Week	1	2	3	4	5	6
Demand	649	524	561	738	515	598

1. Forecast the demand for week 7 using a five-period moving average? (Marks 1.5) (word count maximum:100)
2. Forecast the demand for week 7 using a three-period weighted moving average. Use the following weights: W1 = .4, W2 = .4, W3 = .2 (Marks 1.5) (word count maximum:100)
3. Forecast the demand for week 7 using exponential smoothing. Use α value of .1 and assume the forecast for week 6 was 602 units? (Marks 1.5) (word count maximum:100)
4. What assumptions are made in each of the above forecasts? (Marks 0.5) (word count maximum:150)