Exam 8: Demand Management and Forecasting

The Mean Absolute Deviation (MAD)is equal to the square root of the Mean Squared Error (MSE).

The increasing upstream supply chain variation resulting from forecasts in a supply chain or distribution channel is known as ________.

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

The measure of forecasting error that tells the average error in a forecast is known as ________.

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

Demand that is calculated from a parent item is called independent demand.

What will be the forecast for the month of October using an exponential smoothing technique and a smoothing constant of 0.2,if the demand during the months of August and September was 200 and 220 respectively and the forecast for the month of August was 180?

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

The naive approach to forecasting makes use of the linear regression technique.

In forecasting,what is the Mean Absolute Deviation (MAD)?

A moving average forecast is more responsive to changes in the historical demand when a higher value of n is used-i.e.,when more demand periods are used in computing the forecast.

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

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

Economists want to forecast the demand for automobiles (cars,SUVs and light trucks)as a function of gas prices.Historical data has shown that this relationship can be approximated by a straight line.Which forecasting technique is best suited in this situation?

Long-term,repetitive patterns in a time series that are often macroeconomic in nature are known as ________.