OMGT2229: Strategic Supply Chain Assignment, RMIT, Singapore: Demand forecasting for 5 kg bag ice and inventory management of 20-roll pack of toilet paper at Caltex
| University | RMIT University (RMIT) |
Task 1: Demand forecasting for 5 kg bag ice and inventory management of 20-roll pack of toilet paper at Caltex
Description:
Demand for ice (in 5 kg bag) at Caltex – a petrol station in Melbourne – for the last five years are as follows:
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Task Questions to be done in Excel:
a) Estimate the demands for Quarters I, II, III, and IV in Year 6 using a 3-quarter
moving average method.
b) Estimate the demand for Quarters I, II, III, and IV in Year 6 using the static
method.
c) Evaluate the MAD, MAPE and TS (i.e., the KPIs) in each case and compare
them in the format as shown below.
d) Based on the findings from (b), which of the two methods do you prefer? Why?
(Note: You can give your answer in the table of Question (c).)
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