Forecasting and Demand Planning

1

10

Statistical Forecasting based on the assumption that the future will be an extrapolation of the ________.

past

20

__________value is a measure of variation in the dependent variable due to the independent variable (t) in regression analysis.

R-squared

30

Values between +/- _________ indicate an adequate forecasting model

4

40

_________ are repeatable time periods of ups and downs over short periods of time.

Seasonal patterns

50

__________ is the tendency of forecasts to consistently be larger or smaller than the actual values of the time series.

Bias

2

10

___________________ is the process of projecting values of one or more variables into the future.

Forecasting

20

. _____ are needed to plan workforce levels, allocate budgets among divisions, and schedule jobs and resources.     a.     Make-to-order operations     b.     Intermediate-range forecasts     c.     Short-range forecasts     d.     Make-to-stock operations

b.     Intermediate-range forecasts  

30

_________ is a set of observations measured at successive points in time or over successive periods of time.

Time series

40

Production Scheduling is part of ______Forecast Planning Horizon.

Short term

50

________________unexplained deviation of a time series from a predictable pattern.

Random variation (noise)

3

10

When no historical data are available, _____ is the sole basis for predicting future demands.
a.statistical forecasting
b.regression analysis
c.judgmental forecasting
d.exponential smoothing

c.judgmental forecasting

20

Warranty and Claim Trends is a part of -1.Gaining a customer, 2.Value Creation, 3. Keeping the customer.

Keeping the customer

30

_______ is unit of measure for the time period used in a forecast.

Time bucket

40

_________________ is one-time variation that is explainable.

Irregular variation

50

_______________________Forecasting by expert opinion by gathering judgments and opinions of key personnel based on their experience and knowledge.

Delphi method

4

10

Multiple Linear Regression Model works with more than one ________ variable.

independent variable

20

Major capacity and location decisions are based on _______range Forecast Planning Horizon.

Long range

30

_________________Forecasting relies upon opinions and expertise of people in developing forecasts.

Judgmental Forecasting

40

_________________ is the regular patterns in a data series that take place over long periods of time.

Cyclical patterns

50

_____ is a forecasting technique that uses a weighted average of past time-series values to forecast the value of the time series in the next period.

 Single exponential smoothing

5

10

_____________helps build a statistical model that defines a relationship between a dependent variable and one or more independent variables.

Regression Analysis

20

___  provides the data for understanding how the variable that we wish to forecast has changed historically. 1. planning horizon 2. time bucket 3. time series 4. trend

time series

30

Field and call center service training is located in the _____ aspect of the Value Chain.1.Gaining a customer, 2.Value Creation, 3. Keeping the customer.

Keeping the customer.

40

______________ forcasting is asking those who are close to the end consumer about the customers’ purchasing plans.

Grassroots forecasting

50

__________ provides a method for monitoring a forecast by quantifying bias.

Tracking signal