1. Explain the difference between an exponential smoothing forecasting model and a regression forecasting model. Explain the supply chain assumptions linked to each model and why it is essential to validate these assumptions before using either the exponential smoothing forecasting model or a regression forecasting model.
2. Explain the make-to-stock process Link this concept to understand customer lead time and inventory investment. Use a specific example to support your answer to this question.
3. When selecting location areas, what are six areas that require consideration? In your answer, define these areas. Then, how do these areas affect the effective operation of the entire supply chain management process?