Question: SUPPLY CHAINS MANAGEMENT Forecasting Draw the flowchart of the forecasting process. Calculate the forecast for months 2 to 5 using exponential smoothing with = 0.2

SUPPLY CHAINS MANAGEMENT

Forecasting

  1. Draw the flowchart of the forecasting process.

  1. Calculate the forecast for months 2 to 5 using exponential smoothing with = 0.2 and 2 month moving average method. Then calculate the MAD for each forecasting method. Which method is better? Forecast demand for month 6 using the better method.

Month Actual Demand Forecast Demand
1 260
2 230
3 225
4 245
5 250
6

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