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Operations Management Forecasting Chapter 4 - Part 2

Operations Management Forecasting Chapter 4 - Part 2

Operations Management Forecasting Chapter 4 - Part 2. Forecasting a Trend. Trend is increasing or decreasing pattern. First, plot data to verify trend. If trend exists, then moving averages and exponential smoothing will always lag. 20. Actual. 16. 12. 8. 4. 1. 4. 5. 2. 3. 6.

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1k views • 60 slides
Adjusted Exponential Smoothing

Adjusted Exponential Smoothing

Adjusted Exponential Smoothing. AF t +1 = F t +1 + T t +1 where T = an exponentially smoothed trend factor T t +1 = ? ( F t +1 - F t ) + (1 - ? ) T t where T t = the last period trend factor ?? = a smoothing constant for trend. Adjusted Exponential Smoothing Example.

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1.46k views • 54 slides
Quantitative Review I Spring 2013 Vicky Gu

Quantitative Review I Spring 2013 Vicky Gu

Quantitative Review I Spring 2013 Vicky Gu. Key Concepts: 1. Productivity 2. Productivity Change Ch.1, p.14. Productivity is the ratio of outputs (goods and services) divided by the inputs (resources, such as labor and capital). Productivity (P) =. =.

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573 views • 44 slides
Quantitative Review I Spring 2013 Vicky Gu

Quantitative Review I Spring 2013 Vicky Gu

Quantitative Review I Spring 2013 Vicky Gu. Key Concepts: 1. Productivity 2. Productivity Change Ch.1, p.14. Productivity is the ratio of outputs (goods and services) divided by the inputs (resources, such as labor and capital). Productivity (P) =. =.

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979 views • 44 slides
Supply Chain Management

Supply Chain Management

Supply Chain Management. Lecture 13. Outline. Today Chapter 7 Thursday Network design simulation assignment Chapter 8 Friday Homework 3 due before 5:00pm. Outline. February 23 (Today) Chapter 7 February 25 Network design simulation description Chapter 8 Homework 4 (short) March 2

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869 views • 32 slides
Forecasting Time Horizons

Forecasting Time Horizons

Forecasting Time Horizons. Short-range forecast Up to 1 year, generally less than 3 months Purchasing, job scheduling, workforce levels, job assignments, production levels Medium-range forecast 3 months to 3 years Sales and production planning, budgeting Long-range forecast 3 + years

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504 views • 29 slides
Moving Average, MAD, Tracking Signal Problems

Moving Average, MAD, Tracking Signal Problems

Moving Average, MAD, Tracking Signal Problems. Problems (short) 1-2. 1. Given the following data, compute 3-period moving average forecast for period 6? Period 1 2 3 4 5 Demand 73 68 65 72 67 (65+72+67)/3 = 68.

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197 views • 19 slides
FORECASTING

FORECASTING

FORECASTING. Operations Management Dr. Ron Lembke. Demand Management. Coordinate sources of demand for supply chain to run efficiently, deliver on time Independent Demand Things demanded by end users Dependent Demand Demand known, once demand for end items is known. Affecting Demand.

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527 views • 16 slides
Forecasting

Forecasting

Forecasting.

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288 views • 14 slides
A. $175,000 B. $153,550 C. $187,234 D. $234,154 E. $171,412

A. $175,000 B. $153,550 C. $187,234 D. $234,154 E. $171,412

Linear Regression Problem : A maker of golf shirts has been tracking the relationship between sales and advertising dollars. Use linear regression to find out what sales might be if the company invested $58,000 in advertising next year. ( Y=a + bX ). A. $175,000 B. $153,550 C. $187,234

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191 views • 3 slides

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