OPMA 3306 Chapter 3(Completely solved)
Decoupling correct answers ____________________ points occur when inventory is positioned in the
supply chain to allow one operation to act independently of another
1. Qualitative
2. Time series analysis
3. Casual relationships
4. Simulation correct answers Four basic types of forecasts are common:
Time series correct answers ____________ __________ analysis is based on the idea that data relating to
past demand can be used to predict future demand
1. Average demand for a period of time
2. Trend
3. Seasonal element
4. Cyclical elements
5. Random variation
6. Autocorrelation correct answers Components of Demand:
Linear, S-curve, asymptotic, exponential correct answers Common trend types include:
Short Term Time series analysis correct answers forecasting less than three months. Used mainly for
tactical decisions (e.g., replenishing inventory)
Medium term Time analysis correct answers forecasting three months to two years. Used to develop a
strategy which will be implemented over the next six to eighteen months (e.g., Meeting demand)
Long Term Time series analysis correct answers Forecasting greater than two years. useful for detecting
general trends and identifying major turning points.
Simple Moving Average correct answers 6 to 12 months; weekly data are often used.
, Stationary (i.e. no trend or seasonality).
Short.
Weighted moving average and simple exponential smoothing correct answers 5 to 10 observations needed
to start.
Stationary.
Short.
Exponential smoothing with trend correct answers 5 to 10 observations needed to start.
Stationary and trend.
Short.
Linear regression correct answers 10 to 20 observations.
Stationary, trend, and seasonality.
Short to medium.
Trend and seasonal models correct answers 2 to 3 observations per season.
Stationary, trend and seasonality.
Short to medium
average correct answers Forecast is the _____________ of a fixed number of past periods
smoothing correct answers Longer periods provide more ___________________
quickly correct answers Shorter periods react to trends more ___________
Exponential smoothing correct answers A weighted average method which includes all past data in the
forecasting calculation.
More recent results are weighted more heavily.
The most used of all forecasting techniques.
An integral part of computerized forecasting.
Decoupling correct answers ____________________ points occur when inventory is positioned in the
supply chain to allow one operation to act independently of another
1. Qualitative
2. Time series analysis
3. Casual relationships
4. Simulation correct answers Four basic types of forecasts are common:
Time series correct answers ____________ __________ analysis is based on the idea that data relating to
past demand can be used to predict future demand
1. Average demand for a period of time
2. Trend
3. Seasonal element
4. Cyclical elements
5. Random variation
6. Autocorrelation correct answers Components of Demand:
Linear, S-curve, asymptotic, exponential correct answers Common trend types include:
Short Term Time series analysis correct answers forecasting less than three months. Used mainly for
tactical decisions (e.g., replenishing inventory)
Medium term Time analysis correct answers forecasting three months to two years. Used to develop a
strategy which will be implemented over the next six to eighteen months (e.g., Meeting demand)
Long Term Time series analysis correct answers Forecasting greater than two years. useful for detecting
general trends and identifying major turning points.
Simple Moving Average correct answers 6 to 12 months; weekly data are often used.
, Stationary (i.e. no trend or seasonality).
Short.
Weighted moving average and simple exponential smoothing correct answers 5 to 10 observations needed
to start.
Stationary.
Short.
Exponential smoothing with trend correct answers 5 to 10 observations needed to start.
Stationary and trend.
Short.
Linear regression correct answers 10 to 20 observations.
Stationary, trend, and seasonality.
Short to medium.
Trend and seasonal models correct answers 2 to 3 observations per season.
Stationary, trend and seasonality.
Short to medium
average correct answers Forecast is the _____________ of a fixed number of past periods
smoothing correct answers Longer periods provide more ___________________
quickly correct answers Shorter periods react to trends more ___________
Exponential smoothing correct answers A weighted average method which includes all past data in the
forecasting calculation.
More recent results are weighted more heavily.
The most used of all forecasting techniques.
An integral part of computerized forecasting.
