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.
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
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