Question: MBA 685 Supply Chain Management Week 5 Chapter 7 In-Class Example In this document are True/False questions, Multiple Choice questions and Exercises that use Excel.
MBA 685 Supply Chain Management
Week 5 Chapter 7 In-Class Example
In this document are True/False questions, Multiple Choice questions and Exercises that use Excel.
True/False Questions, worth 1 point each for a total of 8 points.
1) Using multiple forecasting methods is more effective than using one method alone.
Answer:
2) Reducing the forecast horizon and aggregation are two effective approaches that increase forecast error.
Answer:
3) Good forecasting requires a clear understanding of the objective of the forecast and should be integraded across the supply chain.
Answer:
4) The MAPE is a good measure of forecast error when the underlying forecast has significant seasonality and demand varies considerably.
Answer:
5) A company should link its forecast to all planning activities throughout the supply chain.
Answer:
6) Simulation forecasting methods assume demand forecast is highly correlated with environment factors.
Answer:
7) A static method assumes estimates of level, trend, and seasonality within systematic component vary as new demand is observed.
Answer:
8) One measure of forecast error is the mean squared error (MSE).
Answer:
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
Study Help