OPS 571 Week 5 Discussion 1

Students need to contribute Four (4) substantive posts in this discussion by the due date indicated. The substantive posts can be any combination of responses and replies.

Hello Students,

Below a list of some of the main Learning Objectives as well as Key terms you will find in this chapter. Keep in mind that getting familiar with these may help you in the rest of the class.

Learning Objectives for Ch. 18 of Operations and Supply Chain Management

• Understand how forecasting is essential to supply chain planning.
• Evaluate demand using quantitative forecasting models.
• Apply qualitative techniques to forecast demand.
• Apply collaborative techniques to forecast demand.

Key Terms for Chapter 18:

• Strategic forecasts
• Tactical forecasts
• Time series analysis
• Moving average
• Weighted moving average
• Exponential smoothing
• Smoothing constant alpha (α)
• Smoothing constant delta (δ)
• Linear regression forecasting
• Decomposition
• Forecast error
• Mean absolute deviation (MAD)
• Mean absolute percent error (MAPE)
• Tracking signal
• Causal relationship forecasting
• Collaborative Planning, Forecasting, and Replenishment (CPFR)

Class: Think about the situation below, and answer the question below.

How has the development of the Internet affected the way companies forecast in support of their supply chain planning process?

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