Welcome to your Demand forecasting – Part 1
1.
Accurate forecasts can help in reducing the lead time to cater to customer demand and also help in reducing the inventory levels:
2.
All of the below are Qualitative methods of forecasting?
- Sales force estimates
- Executive opinion
- Customer Survey / Market Research
- Delphi Method
3.
Compute a three week moving average forecast for the arrival of medical clinic patients in week 4. The number of arrivals for the last three weeks were:
Week Patients Arrivals
1 400
2 380
3 411
4.
Which of the following is not a Time Series method of forecasting?
5.
Assume that the long run demand for a given product is relatively stable and a smoothing constant (alpha) of 0.05 is considered appropriate. If the exponential smoothing method were used, a forecast would have been made for the last month. Assume that the last month's forecast (Ft-1) was 1050 units and 1000 units were actually demanded (At-1). Find the forecast for current month.
