Why is supply chain management an important area to study? How do the functions of purchasing and logistics contribute to supply chain performance?
Answer to relevant QuestionsHow do lead times and forecast errors affect supply chain performance? Is there a difference between forecasting demand and forecasting sales? Can demand be forecast from historical sales data? Define the terms qualitative method, time-series method, and causal forecast. A candy store has sold the following number of pounds of candy for the past three days. Assuming α = .4, A0 = 16, and MAD0 = 1, complete the following table. Using the data in problem 2, prepare exponentially smoothed forecasts for the following cases: a. α = .1 and F1 = 90 b. α = .3 and F1 = 90
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