Discussion HP

Discussion HP

Question One

A $50 increase in the total results from higher unit expenses per unit. Concerns about the distribution of goods and the break-even time. Some benefits are improved forecasting accuracy, less safety stock, fewer missed sales opportunities, and reduced stock-outs.

Question Two

Power Is Easily Accessible to Everyone. For example, an electric furnace can be powered by a Universal Power Supply that is the foundation for an off-grid power system (Bolgov & Laanetu, 2016). It is easy to see the advantages and disadvantages of the new technology that has enhanced the power supply. HP will have to pay $30 more in material prices for each printer they produce. Since HP cannot precisely estimate customer demand, it is possible that customers will not be willing to pay the higher price or that HP will lose money in transit costs from various regions due to HP's failure. On the other hand, HP has a few advantages over its rivals in this market. If projections are more accurate, a universal power supply will reduce the danger of irrelevant inventory at DCs, resulting in lower expenses for maintaining stocks and lower fees for providing services. Because rework is no longer required, the cost of shipping things is also lowered, which is an additional benefit.

Question Three

In a product's life cycle, costs and benefits might change dramatically. Stocking up would be a substantial cost burden at the beginning of a product's life cycle (Modi et al., 2015). Every misdirected order results in a loss of money and revenue that may have been generated in the future. It is cheaper to stock up when the product is towards the end of its lifespan than when it was newly introduced. Therefore, you will be less likely to miss out on future sales.

 Question Four

Improve operational efficiency by implementing more demand forecasting technology at the Boise facility. Regional sales accuracy, fewer stock-outs, and transshipment expenses are two advantages of this software system. The printer engine must also be procured from a bigger pool of possible vendors, which Boise needs to identify and nurture. Techniques for predicting the future are essential because there are numerous methods for anticipating future demand. Your predictions may differ from those of others. Demand The level of detail contained, the period examined, and the extent of the market taken into account are the primary determinants of forecasting classification. For a better understanding of future demand, the majority of businesses develop a variety of demand estimates. The activity used to predict demand market campaigns, market analysis, research, and expansion goals are all considered in an active demand forecasting model. Entrepreneurial firms, such as startups, often use this type of forecasting to guide their expansion and diversification efforts. The lack of historical data forces companies to make assumptions based on information from other resources. Demand Prediction Using Supply Data Passive demand forecasting is the most straightforward method for obtaining forecasts from past data (Goswami & Kandali, 2020). Companies with a long history and a deep understanding of the market tend to rely on this forecasting most frequently. Forecasting short-term demand We can make predictions for the next three to twelve months using short-term demand forecasting. With this system, you can respond quickly to changes in client demand and market behavior. To provide just-in-time inventory management, this forecasting relies on real-time sales data. When predicting Long-Term Consumer Demand, It is possible to do long-term demand forecasting for a more extended period (up to 48 months in some industries), usually between 12 and 24 months out (In specific organizations, it is from 36 to 48 months). Forecasting long-term initiatives like marketing, capital investment, and supply chain management are helpful in this type of analysis. It focuses mainly on the company's long-term expansion strategy. Using Extraneous Data to Predict the Economy An outside macro forecaster can help you see the overall economy's movements. You can use this forecast to see how those trends affect your goals. Knowing how much external macroeconomic demand exists is essential to achieving your goals. Operations planning for the company Internally As part of the process of forecasting the company's internal business are internal corporate activities such as financial management, supply chain management, cash on hand, and human resources. It focuses on the areas where firms need to expand their expertise to accomplish their expansion goals. The following post on this site will detail various ways to predict.

Question Five

With a global power supply, HP's advantages vastly outweigh potential drawbacks. In addition, HP may be the only business to offer a universal power supply option, which will benefit customers. 

References

Bolgov, V., & Laanetu, M. (2016). Economical feasibility of off-grid hybrid power supply for Estonian remote areas—Part 1: Hybrid components sizing. 2016 Electric Power Quality and Supply Reliability (PQ). https://doi.org/10.1109/pq.2016.7724110

Goswami, K., & Kandali, A. B. (2020). Electricity demand prediction using data driven forecasting scheme: ARIMA and SARIMA for real-time load data of Assam. 2020 International Conference on Computational Performance Evaluation (ComPE). https://doi.org/10.1109/compe49325.2020.9200031

Modi, M., Stanco, J., & Verbovsky, P. (2015). Supporting a product's life cycle utilizing reusable ATML compliant test documentation. 2015 IEEE AUTOTESTCON. https://doi.org/10.1109/autest.2015.7356469