Flashcard Set Preview
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strategic forecasts
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medium and long term forecasts that are used to make decisions related to design and plans...
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tactical forecasts
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short term forecasts used as input for making day to day decisions related to meeting demand
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dependent demand
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requirements for a p/s caused by the demand for other p/s.
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independent demand
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demand can't be directly derived from demand for other products
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time serires analysis
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type of forecast in which data relating to past demand are used to predict future demand
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linear regression forecasting
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forecasting technique that assumes that past data and future projections fall around a straight...
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exponential smoothing
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time series forcasting technique in which each increment of past demand data is decrease by...
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smoothing constant alpha (a)
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parameter in the exponential smoothing equation that controls the spped of reaction to differences...
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smoothing constant delta
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additional parameter used in a exponential smoothing equation that includes an adjustment for...
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mean absolute deviation (MAD)
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average forecast error using absolute values of the error of each past forecast.
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tracking signal
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measure that indicates wheather the forecast average is keeping pace w/ any genuine up/downward...
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casual relationship
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situation in which 1 event causes another. If the event is far enough in the futre, it...
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collaborative planning, forecasting and replenishment
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internet tool to coordinate forecasting, production and purchasing in a firm's supply chain.
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