QUESTION 1 As the production planner for one of your firm's product lines, you receive sales forecasts from your firm's regional sales managers about the middle of each month. Based on these sales forecasts for the following month, you need to create production plans for each of the two products in your product line. A comparison of forecasts vs. actual sales data for the past four months for two products for two channels from a new-appointed regional sales manager are shown in the table below. The "indirect channel" is the retail channel and retailers typically hold some buffer inventory of their own to service varying final customer demand requirements. The "direct channel" involves direct-to-final-customer sales via an e-commerce sales channel and associated major account initiatives. These channels do partially overlap, for those customers who view both channels as viable ways of purchasing these products. Month 1 Month 2 Month 3 Month 4 Month 5 Product 1 Product 2 indirect Channel Direct Channel Indirect Channel Direct Channel Forecast Actual Forecast Actual Forecast Actual Forecast Actual 4,500 13,271 6,500 4,519 4,400 5,863 3,900 2,584 21,000 9,260 8,500 10,850 9,000 4,895 4,000 3,111 11,000 11,820 11,000 4,684 5,500 7,502 3,500 4,848 7,000 10,748 8,000 12,126 9,000 653 6,000 2,567 16,000 12,000 6,000 4,500 Based on these data and particularly on the sales manager's month-5 forecasts shown in the table, what production volume would you schedule in month 5 for each of these two products? For each product, you must make a total sales volume forecast (the total combined sales volume for the indirect and direct channels). Your production planning goal is to have production volume exactly equal sales. Assume that it's equally bad to over- or under forecast and over- or under produce ie, it's equally costly to have excess inventory as it is to have unfilled orders), you have no on-hand inventory, and there are no significant setup costs for your regular monthly production run. HINT: sometimes the simplest methods are the best. Think of the first five forecasting tools you learned in this course. Describe your forecasting tool. Remember to include "The tool I chose..." in your answer or it will be marked incorrect. 11 chose moving average QUESTION 2 Calculate product #1's indirect and direct channel. Show the sum of these two calculations. QUESTION 3 Calculate product #2's indirect and direct channel. Show the sum of these two calculations