BUS 306 • Midterm • Production and Services Management

Forecasting

Error in Forecasts

Mean Absolute Deviation (MAD)

Mean Squared Error (MSE)

Mean Absolute Percentage Error (MAPE)

Example

Components of the Data

Naive Approach

Example

Simple Average Method

Example

Moving Averages Method

Example

Weighted Moving Averages Method

Example

Exponential Smoothing Method

Example

Regression Analysis

Example

Trend Adjusted Exponential Smoothing

Example

Seasonal Data with No Trend

Example

Winter's Method

Seasonal Factors

Example

Introduction

Zero Inventory Strategy

Example 1

Example 2

Constant Workforce Plan

Example 3

Example 4

Linear Programming Solution

Example 5

Economic Order Quantity

Cost Components

Example 1

Example 2

Inclusion of Lead Time

Example 3

Economic Production Quantity

Example 4

Example 5

All Units Discounts

Example 1

Example 2

Incremental Discounts

Example 3

Example 4

Forecasting 1

Forecasting 2

Forecasting 3

Forecasting 4

Forecasting 5

Forecasting 6

Forecasting 7

Forecasting 8

Forecasting 9

Aggregate Planning 1

Aggregate Planning 2

Aggregate Planning 3

Aggregate Planning 4

Aggregate Planning 5

Aggregate Planning 6

Inventory Management - Deterministic 1

Inventory Management - Deterministic 2

Inventory Management - Deterministic 3

Inventory Management - Deterministic 4

Inventory Management - Deterministic 5

Inventory Management - Deterministic 6

Inventory Management - Deterministic 7

Inventory Management - Deterministic 8

Inventory Management - Deterministic 9

Quantity Discount Models 1

Quantity Discount Models 2