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Exam 8: Demand Management and Forecasting

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Question 31

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When new products show a steady increase in sales,a low alpha value for the smoothing constant should be used in conjunction with the exponential smoothing technique in order to minimize forecast errors.

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B) False

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Question 32

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Long-term,repetitive patterns in a time series that are often macroeconomic in nature are known as ________.

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Question 33

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The following table provides demand and forecast information for a specialty store's products which are particularly popular around Halloween. -What is the seasonally adjusted forecast for Spring 2014?

In the case of positive bias,people tend to underforecast.

The increasing upstream supply chain variation resulting from forecasts in a supply chain or distribution channel is known as ________.

The practice of hotels and resorts offering off-season discounts for slow periods is a form of demand management.

For the current period,given an actual demand of 105,a forecasted value of 97,and an alpha of 0.4,the simple exponential smoothing forecast for the next period would be

A forecast is an assertion about the future whose outcome is known.

For an apparel manufacturer,ski jackets and swimwear are examples of ________ products.

Demand that is calculated from a parent item is called independent demand.

Forecasts based on judgment and opinion do not include which of the following?

For a retailer,ski jackets and snow shovels are counterseasonal products.

Variation patterns that are repetitive and occur at the same fixed time period are known as seasonal patterns.

In overforecasting,the forecaster is too ________.

A long-term,repetitive pattern in a time series that is often macroeconomic in nature is known as trend.

The following table provides demand and forecast information for a specialty store's products which are particularly popular around Halloween. -What is the seasonal index for the Spring season/quarter?

The tendency to forecast either too high or too low is known as ________.

Discuss how social demand and information available on the Internet can aid a manager in forecasting.

At the end of June (and using the historical data up to and including the month of June) ,a manager develops the following equation to predict monthly sales: Y = 25,000 + 125x.What is the forecast for the month of September using this linear trend line equation?

The average rate of change in a time series data is known as ________.