IE 351 • Midterm • Production Planning and Control

Forecasting

Error in Forecasts

Mean Absolute Deviation (MAD)

Mean Squared Error (MSE)

Mean Absolute Percentage Error (MAPE)

Example

Components of the Data

Naive Approach (Last Data Point)

Example 1

Average

Moving Averages Method

Example 2

Weighted Moving Averages Method

Example 3

Exponential Smoothing Method

Example 4

Chapter Summary

Double Exponential Smoothing

Example 1

Trend Projections (Least Squares Method)

Example 2

Chapter Summary

Seasonal Index

Example 1

Triple Exponential Smoothing (Winter's Method)

Seasonal Factors

Example 2

Chapter Summary

Introduction

Chase Strategy

Example 1

Example 2

Level Strategy

Example 3

Mathematical Approach

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