Question: Please help me with the below for inventory management True or False Question 1 1 . Demand forecasting methods such as exponential smoothing give more
Please help me with the below for inventory management True or False
Question
Demand forecasting methods such as exponential smoothing give more weight to older data compared to more recent data. True or False
The Reorder Point ROP is the inventory level at which a new order should be placed to replenish stock True or False
Lead time is the time taken from placing an order to receiving the inventory.True or False
In a JustInTime JIT inventory system, companies keep minimal inventory levels to reduce carrying costs. True or False
Demand planning is solely concerned with how much product to order from suppliers. True or False
Inventory forecasting involves predicting future inventory levels based on historical data. True or False
Forecast accuracy is not important for companies that use a push inventory strategy True or False
The Bullwhip Effect describes how small changes in consumer demand can lead to larger fluctuations in inventory levels upstream in the supply chain. True or False
A moving average is a technique used in forecasting that smooths out shortterm fluctuations and highlights longerterm trends. True or False
Inventory turnover ratio measures how often inventory is sold and replaced over a period True or False
Inventory turnover ratio measures how often inventory is sold and replaced over a period True or False
The Periodic Review System involves checking inventory levels at regular intervals and ordering enough to bring inventory up to a desired level. True or False
The Economic Order Quantity EOQ model is used to determine the optimal order size that minimizes total inventory costs. True or False
Collaborative Planning, Forecasting, and Replenishment CPFR is a process where supply chain partners work together to improve forecasting accuracy.True or False
Seasonal trends should not be considered in inventory forecasting as they do not significantly impact demand.True or False
A company with a high inventory turnover ratio usually has high levels of inventory.True or False
A high service level target typically requires higher safety stock levels to reduce the risk of stockouts.True or False
Safety stock calculations are generally based on demand variability and lead time variability. True or False
Historical sales data is not useful for forecasting future inventory needs if market conditions are changing rapidly.True or False
Demand planning and inventory forecasting are interchangeable terms with the same meaning.True or False
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