Study Guide for Chapter 5:
1. What does the acronym CPFR represent?
a. | Coordinated planning and forecasting relationships |
b. | Collaborative planning, forecasting, and replenishment |
c. | Centralized purchasing and forecasting relationships |
d. | Collaborative purchasing, forecasting, and receivables |
2. Some measures of forecasting accuracy include mean absolute deviation, mean absolute percentage error, and mean squared error. The formula for each is dependent on the forecast error, which is calculated by using the equation:
a. | Actual demand for period t divided by the forecasted demand for period t |
b. | Actual demand for period t plus the forecasted demand for period t |
c. | Actual demand for period t minus the ...view middle of the document...
| 15225 |
c. | 15300 |
d. | 17250 |
4. Using Data Set E1, what would be the forecast for period 6 using a five period weighted moving average? The weights for each period are 0.05, 0.10, 0.20, 0.30, and 0.35 from the oldest period to the most recent period, respectively. (Choose the closest answer.)
a. | 16500 |
b. | 17825 |
c. | 14575 |
d. | 16275 |
5. Using Data Set E1, what would be the forecast for period 6 using the exponential smoothing method? Assume the forecast for period 5 is 14000. Use a smoothing constant of = 0.4 (Choose the closest answer.)
a. | 14575 |
b. | 26100 |
c. | 16600 |
d. | 19700 |
6. Which one of the following is not a type of qualitative forecasting?
a. | Sales force composite |
b. | Consumer survey |
c. | Jury of executive opinion |
d. | Naïve method |
Data Set E2
Month | Actual | Forecast |
1 | 10 | 11 |
2 | 8 | 10 |
3 | 9 | 8 |
4 | 6 | 6 |
5 | 7 | 8 |
7. A forecasting method has produced the following data over the past 5 months shown in Data Set E2. What is the mean absolute deviation (accurate to 2 decimals)?
a. | 0.60 |
b. | 1.20 |
c. | 1.00 |
d. | 1.25 |
8. Given the following information, calculate the forecast (accurate to 2 decimals) for period three using exponential smoothing and = 0.3.
Period | Demand | Forecast |
1 | 64 | 59 |
2 | 70 | |
a. | 36.90 |
b. | 57.50 |
c. | 61.50 |
d. | 63.35 |
9. List and describe qualitative forecasting methods.
10. List FOUR benefits that can be achieved by implementing a successful CPFR program.
11. Why is forecast accuracy important?
12.Explain the collaborative planning, forecasting, and replenishment process.