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Discussion Points of Time Series Analysis

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In 200 words each, can you discuss the following?

1. Explain implementing ERP systems. What are the main reasons why a large percentage of executives have negative feelings toward ERP software?
2. What strategies are used by supermarkets, airlines, hospitals, banks, and cereal manufacturers to influence demand? Explain and provide examples.
3. What is the logic in the least squares method of linear regression analysis?
4. What are the main problems with using adaptive exponential smoothing in forecasting?
5. What key technological features of SAP set it apart from conventional business accounting/planning/control software?
6. Explain product planning strategy. Distinguish between pure and mixed strategies in production planning.
7. From the choice of simple moving average, weighted moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate? Why?

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Solution Summary

This response is based upon the seven questions the student asked about different types of time series analysis. Some of the points touched upon in this response provide information about complex analysis techniques. This discussion style responses provide the student with some introductory thoughts on the different analysis techniques the student asked about.

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Discussion Points and Time Series Analysis

1. An enterprise resource planning system is best defined as, "as a system that helps organizations manage their financials, supply chain, manufacturing, operations, reporting, and human resources. Most ERP systems can be deployed on-premises or in the cloud, to improve and automate the core parts of your business," (What is ERP?, 2016). The primary reason given for implementing an ERP system is to increase the productivity of a manufacturing or customer service system. Elements of the system that lead to increased productivity include improvements in organizational decision making processes, and the ability to reduce business operating costs (Mandal & Gunasekaran, 2003).

A. The reason that executives have negative feelings toward ERP software involve instances of disastrous implementation. Effective implementation requires a well laid out and well directed plan, which includes a clear vision and strategy for what the ERP process is expected to accomplish. If the implementation team is unable to overcome the obstacles it faces, it may make the implementation process a total failure, leaving the organization in a transitional condition that my lead to disastrous productivity losses.

B. The human factors in implementation are of major concern. Employees may be slow to embrace the changes the ERP software will bring to the way the business or manufacturing operations of the organization function. Successful implementation may require the initiation of an organizational change management process (Mandal & Gunasekaran, 2003).

2. The strategies that supermarkets, airlines, hospitals, banks, and cereal manufacturers use to influence demand include presenting a value presentation, ability to meet a specific need, appeal to social values, and the ability to create positive results in human relationships.

A. An example of a value presentation is a company's advertising the offers a product or service at a price and quantity that is advantageous to consumers. An example of a product that meets a specific needs is a medicine a manufacturer is able to advertise that many help a particular physical condition. An appeal to social values might be an ...

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