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Business
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| Number of pages / Number of words: |
2 / 329 |
Essay's paper body
o Based in Aspen, Colorado
o Manufactures skiwear and distributes it through 800 US retailers
o Since 95% of its products are new each year
? Faces demand uncertainty
o In 1991, the company's vice president, Walter Obermeyer, started a project to deal with those problems by using three strategies:
? Reducing, avoiding, and hedging against uncertainty
? To reduce uncertainty, Obermeyer requested orders early in the year from important customers
? These early orders helped them achieve a significantly improved forecast for the rest of the year
o Lead times were still a problem
? Concluded that each day cut off the lead time would save $25,000
? Because of air shipping products to plants in Asia
? Began searching for ways to reduce lead times
? Was able to avoid uncertainty on half of its products
o Still had uncertain demand for half the products
? Used the average of six forecasts
- If the forecasts were similar, the forecast was accurate
- If the forecasts were dissimilar, the forecast was inaccurate
- Using this data, they could hedge their risks
o System increased profits by 60%
o Made Obermeyer number one in the industry for service...
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o Based in Aspen, Colorado
o Manufactures skiwear and distributes it through 800 US retailers
o Since 95% of its products are new each year
? Faces demand uncertainty
o In 1991, the company's vice president, Walter Obermeyer, started a project to deal with those problems by using three strategies:
? Reducing, avoiding, and hedging against uncertainty
? To reduce uncertainty, Obermeyer requested orders early in the year from important customers
? These early orders helped them achieve a significantly improved forecast for the rest of the year
o Lead times were still a problem
? Concluded that each day cut off the lead time would save $25,000
? Because of air shipping products to plants in Asia
? Began searching for ways to reduce lead times
? Was able to avoid uncertainty on half of its products
o Still had uncertain demand for half the products
? Used the average of six forecasts
- If the forecasts were similar, the forecast was accurate
- If the forecasts were dissimilar, the forecast was inaccurate
- Using this data, they could hedge their risks
o System increased profits by 60%
o Made Obermeyer number one in the industry for service...
Essay fragment
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