IE 341 • Midterm • Production Planning and Control I

Forecasting

Error in Forecasts

Mean Absolute Deviation (MAD)

Mean Squared Error (MSE)

Mean Absolute Percentage Error (MAPE)

Example

Components of the Data

Last Data Point Method

Last Data Point Example

Simple Average Method

Simple Average Example

Moving Averages Method

Moving Averages Example

Weighted Moving Averages Method

Weighted Moving Averages Example

Exponential Smoothing Method

Exponential Smoothing Example

Regression Analysis

Regression Analysis Example

Double Exponential Smoothing (Holt's Method)

Double Exponential Smoothing Example

Seasonal Data with No Trend

Example

Triple Exponential Smoothing (Winter's Method)

Seasonal Factors

Example

Economic Order Quantity

Cost Components

Example 1

Example 2

Lead Time

Example 3

Forecasting 1

Forecasting 2

Forecasting 3

Forecasting 4

Forecasting 5

Forecasting 6

Forecasting 7

Forecasting 8

Forecasting 9

EOQ 1

EOQ 2

EOQ 3

EOQ 4

EOQ 5