SCMT 2103 MODULE 4B QUIZZES
Measures of forecast accuracy - Correct Answers --the running sum of forecast errors
-the mean absolute percentage error
-mean forecast error
The formula for each measure of forecast accuracy is dependent on ___________. -
Correct Answers -forecast error
The calculation for forecast error is.... - Correct Answers -Actual demand for period t -
the forecasted demand for period t
When the forecast is too high, forecast error is ________. - Correct Answers –negative
________ is a concept that encourages and facilitates collaborative processes between
members of a supply chain. - Correct Answers -CPFR
A CPFR program allows a producer to determine replenishment quantities in concert
with a retailer and thereby remove redundant inventory and improve customer service.
This activity likely.... - Correct Answers -mitigates the bullwhip effect.
The costs associated with prediction error can be substantial. What are some of the
potential costs? - Correct Answers --lost sales
-safety stock
-dissatisfied customers
Forecast ____________ describes whether we are on average forecasting too high or
too low while forecast _____________ measures the size of the forecast error,
irrespective of the _____________ of the error. - Correct Answers -bias; magnitude;
direction
Calculating the ___________ means taking the sum of the forecast errors and dividing it
by the number of observations or the number of forecasts. - Correct Answers -mean
forecast error
If forecasts on average are too low, RSFE and MFE will be ___________. - Correct
Answers -positive
Measures of forecast accuracy - Correct Answers --the running sum of forecast errors
-the mean absolute percentage error
-mean forecast error
The formula for each measure of forecast accuracy is dependent on ___________. -
Correct Answers -forecast error
The calculation for forecast error is.... - Correct Answers -Actual demand for period t -
the forecasted demand for period t
When the forecast is too high, forecast error is ________. - Correct Answers –negative
________ is a concept that encourages and facilitates collaborative processes between
members of a supply chain. - Correct Answers -CPFR
A CPFR program allows a producer to determine replenishment quantities in concert
with a retailer and thereby remove redundant inventory and improve customer service.
This activity likely.... - Correct Answers -mitigates the bullwhip effect.
The costs associated with prediction error can be substantial. What are some of the
potential costs? - Correct Answers --lost sales
-safety stock
-dissatisfied customers
Forecast ____________ describes whether we are on average forecasting too high or
too low while forecast _____________ measures the size of the forecast error,
irrespective of the _____________ of the error. - Correct Answers -bias; magnitude;
direction
Calculating the ___________ means taking the sum of the forecast errors and dividing it
by the number of observations or the number of forecasts. - Correct Answers -mean
forecast error
If forecasts on average are too low, RSFE and MFE will be ___________. - Correct
Answers -positive
