EIS 3302 Chp 3 HW Notes
1. Exponential smoothing
A weighted averaging method based on previous forecast plus a percentage of the forecast error.
Forecasting technique that uses explanatory variables to predict future demand.
Chapter 3: Learning Objectives
You should be able to:
List features common to all forecasts
Explain why forecasts are generally wrong
List elements of a good forecast
Outline the steps in the forecasting p
1. One important use of inventories in manufacturing is to decouple operations
through the use of work in
2. The objective of inventory management is to minimize the cost of holding