Exam 8: Demand Management and Forecasting

To reduce inventory variability in the supply chain and to better match demand with supply at various stages in the supply chain,which of the following two practices are effective?

Which of the following forecasting approach is appropriate for new product launches?

Using different marketing channels to complement each order in order to level demand is known as ________.

The double smoothing technique adds twice the forecast error to last period's actual demand to arrive at a forecast.

The seasonal index for Menchie's Landscaping services for the summer season was 1.35.Based on this information,what can be concluded about the demand for the landscaping services for the summer season?

Introducing new products in a sequence that allows for an effective use of capacity is known as ________.

Bias exists when the forecast tends to be greater or less than the actual demand.

Demand that is calculated from a parent item is called ________.

A forecast method is generally said to be accurate when the errors exhibit an identifiable pattern.

The forecasting method which uses an iterative process in which individuals develop their own forecast and then share them among each other and again revise their forecast until a consensus is reached is

As per the bullwhip effect,which member of the supply chain will see the largest variation in demand along the supply chain?

The average rate of change in a time series data is known as churn.

What will be the forecast for the month of October using a 3-period moving average and weights of 0.2,0.3 and 0.5,if the demand during the months of May,June,July,August and September was 200,180,210,200 and 220 respectively? (The desire is to have the most recent data influence the forecast most strongly. )

What is the bullwhip effect in supply chains?

A manufacturer of printers introduces a new product to the market and produces the product in its new manufacturing facility in Texas.When employees become familiar with producing a particular product and as newer products are introduced,the production of mature products is moved to partners in Mexico to accommodate production of the new product line.The manufacturer is using a practice called

NextGenTabs has introduced their latest model of tablet computers and these have been very well received and popular in the market.NextGenTabs has seen the demand for their tablet computers showing a steady increase month over month for the last six months.In using an exponential smoothing forecasting technique to forecast demand for future periods,NextGenTabs should use a smoothing constant (α)that is

A measure of forecasting error that tracks the average percent of error is known as ________.

Variation patterns that are repetitive and occur at the same fixed time period are known as ________.

A proactive balancing of scarce business resources with demand is known as ________.

Removing the seasonal component from a historical demand (de-seasonalizing)can be accomplished by dividing each data point by its appropriate seasonal index.