Exam 6: Demand Management, Forecasting, and Aggregate Planning

Holding substantial amounts of finished goods for delivery any time that a customer demand is experienced can result in which negative consequence?

__________ are forecasts that are based on the assumption that the future is an extension of the past.

The simple moving average is _______.

Which of the following most accurately describes the concept of forecasting?

____________ are used to gather consumer opinions on existing products, new product ideas, future buying habits, and opinions of competitor products.

The two basic forecasting techniques are qualitative and ___________ forecasting.

Multiple regression forecasting is characterized by?

The initial period's forecast for the exponential smoothing technique can be estimated by?

In Q1, a firm sold 23,000 units of a particular product. In Q2, the firm sold 25,000 and in Q3 22,850 units were sold. Assume weights of 0.7 and 0.3 (descending for older data). What is the two period weighted moving average forecast for Q4?

A qualitative forecasting technique that relies on group convergence of forecasts is referred to as?

A firm makes what type of plans to accommodate unforeseen changes and forecast errors?

Forecasts that use historical demand to predict future demand are known as associative forecasts.

The manager of a luxury car rental company has noticed that demand for rentals is highly dependent on the state of the national economy. When the economy is performing well, she experiences lots of demand. However, when the economy is poor, she experiences very little demand. This demand pattern is likely an example of?

A salesperson has been asked to forecast her sales for the next month. To do so, she decides to average her sales from the past three months. This forecasting technique is referred to as?

A large manufacturer of skis and ski accessories has traditionally relied on guesswork to develop forecasts for demand for most of its items. How might this company benefit from using a more formal or proven forecasting technique?

In the weighted moving average forecast, weights are typically?

Relying on field sales personnel to provide estimates of customer needs is referred to as which type of qualitative forecasting technique?

In CPFR, it is assumed that performance will be measured ____________?

The Delphi method is particularly useful because it can avoid what problem?

As the exponential smoothing constant increases, the resulting forecast tends to?