PRODUCTION AND OPERATIONS MANAGEMENT (MGT613)

PRODUCTION AND OPERATIONS MANAGEMENT(MGT613)Problem:The Pizza Point is a small restaurant catering to the customers who have a taste for oriental pizza. The manager forecasts the demand on weekly basis for this type of pizzas so that he can order ingredients weekly. Recently demand has been as follows:WeekDemand of PizzasApril 250April 965April 1652April 2356April 3055May 760May 1456May 21Forecast the demand for pizza for April 23 – May 21 by using simple moving average method with n = 3.Using the same data forecast for April 23 – May 21 with weighted moving average method where n and weights are 0.50, 0.30, 0.20. Apply 0.50 to the most recent demand.Use the exponential smoothing method to forecast the demand of pizzas for April 9 – May 7; where smoothing constant (alpha) α = 0.1. AssumeRecord the results of your calculation in given tabular format as below:WeekDemand of PizzasForecastForecastForecast(simple(weightedα .1moving Avg)moving Avg)April 250April 965April 1652April 2356April 3055May 760May 1456May 21