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- Suppose you need to forecast the amount of relief aid needed following an earthquake. What type of forecast do you think is the most appropriate: qualitative or quantitative, and why? Is CPFR applicable in this case?What is the concept of seasonality? How do we forecast based on seasonal data?The table below comprises of demand from the last 10 months: Month Demand 1 31 2 34 3 33 4 35 5 37 6 36 7 38 8 40 9 40 10 41 Calculate the exponential smoothing with trend forecast for the second month using a alpha and delta of 0.3 each. Take the initial exponentially smoothed forecast (F1) of 30 and initial trend forecast (T1) of 1. Note: I have tried solving this question and I got 31, but unfortunately it was the wrong answer.
- Below is a table containing data on product demand for the most recent five months along with the forecasts that had been made for those 5 previous months. Use the 3-period weighted moving average method to forecast the number of sales to expect next month. Use the following weights: 0.4 for the most recent, 0.3 for the 2nd most recent, and 0.3 for the 3rd most recent. Month Demand Forecast 1 308 337 2 388 341.4 3 344 368 4 400 342.8 5 341 378.42.1 Compare and contrast between the grassroots forecasting technique and the Delphi method. 2.2 Explain integrated service providers in logistics managementWhat are the advantages and disadvantages of aggregating deman from a forecasting view? Are there other things that should be considered when going from multiple DC (Distribution Centers) to a DC?
- 1. The table below shows the sales figure for a brand of shoe over the last 12 months. MONTHS SALES January 69 February 75 March 86 April 92 May 95 June 100 July 108 August 115 September 125 October 131 November 140 December 150 Using the following, forecast the sales for the months up to January the following year:- 1. A simple three month moving average.ii. A three period weighted moving average using weights of 1, 2 and 3. Assign the highest weight to the most recent data.iii. Exponential Smoothing when a= .6 and the forecast for March is 350.When forecasting demand for new products, sometimes i rms will use demand data from similar existing products to help forecast demand for the new product. What technique is this an example of?Explain why is accurate forecasting so important to companies that use a continuous replenishment inventory system?
- With the aid of practical examples demonstrate how qualitative, time-series, and causal forecasts can be used in Industry to forecast demand?The table below shows the demand for a particular brand of microwave oven in a department store. Month 1 Demand27 31 29 36 35 42 a) Calculate a two-month weighted moving average for all possible months with weight assigned to oldest in order 04, 0.6. b) Apply exponential smoothing with a smoothing constant of 0.7 to derive a forecast for all possible months. c) Which of the two methods would you use to forecast and why?Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note, the 1st quarter is Jan, Feb, and Mar; 2nd quarter Apr, May, Jun; 3rd quarter Jul, Aug, Sep; and 4th quarter Oct, Nov, Dec.