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Forecasting With Ms Excel

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36 views2 pages

Forecasting With Ms Excel

Uploaded by

Earl Fuego
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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INME 411 – Forecasting with Microsoft Excel

Required:

a. Design spreadsheet(s) for solving forecasting problems individually.


b. Submit your spreadsheet solutions to your Tutor & Lecturer by email.
Each forecasting model and solution must be presented in a separate Tab in your workbook
eg ‘MA3’, ‘WMA’

Save your workbook as – ‘Lab 01 – Your Full Names & Student ID’.

Note: The lab is ungraded, but very important for learning accomplishment

Date: 01 Sep 2022 @1400hrs

Due Date: 01 Sep 2022 @1600hrs

= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =

1. The Instant Paper Clip Office Supply Company sells and delivers office supplies to companies,
schools, and agencies within a 50-mile radius of its warehouse. The office supply business is
competitive, and the ability to deliver orders promptly is a big factor in getting new customers and
maintaining old ones. (Offices typically order not when they run low on supplies, but when they
completely run out. As a result, they need their orders immediately.) The manager of the company
wants to be certain that enough drivers and vehicles are available to deliver orders promptly and
that they have adequate inventory in stock. Therefore, the manager wants to be able to forecast the
demand for deliveries during the next month. From the records of previous orders, management has
accumulated the following data for the past 10 months:

Jan Feb Mar Apr May Jun Jul Aug Sep Oct
120 90 100 75 110 50 75 130 110 90

a. Compute the monthly demand forecast for April through November using a 3-month moving
average.

b. Compute the monthly demand forecast for June through November using a 5-month moving
average.

c. Compute the monthly demand forecast for April through November using a 3-month weighted
moving average. Use weights of 0.5, 0.33, and 0.17, with the heavier weights on the more recent
months.

2. PM Computer Services assembles customized personal computers from generic parts. Formed and
operated by part-time UMass Lowell students Paulette Tyler and Maureen Becker, the company has
had steady growth since it started. The company assembles computers mostly at night, using part-
time students. Paulette and Maureen purchase generic computer parts in volume at a discount from
a variety of sources whenever they see a good deal. Thus, they need a good forecast of demand for
their computers so that they will know how many parts to purchase and stock. They have compiled
demand data for the last 12 months as reported below.

Period Month Demand


1 Jan 37
2 Feb 40
3 Mar 41
4 Apr 37
5 May 45
6 Jun 50
7 Jul 43
8 Aug 47
9 Sep 56
10 Oct 52
11 Nov 55
12 Dec 54

a. Use exponential smoothing with smoothing parameter α = 0.3 to compute the demand forecast
for January (Period 13).

b. Use exponential smoothing with smoothing parameter α = 0.5 to compute the demand forecast
for January (Period 13).

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