Introduction to Supply Chain Management Homework Assignment #1 (100 Points) 1

Introduction to Supply Chain Management

Homework Assignment #1
(100 Points)

1

What is the difference between qualitative forecasting techniques and quantitative forecasting techniques?

10 Points

2

When is it more appropriate to use a qualitative forecast?

10 Points

3

When is it more appropriate to use a quantitative forecast?

10 Points

4

Monthly sales for the RUOK Company for the last 6 months are as follows:

Compute the sales forecast for
July using the following approaches:

Month

Units

January

18,000

February

22,000

March

16,000

April

18,000

May

20,000

June

24,000

a) 4 month simple moving average

b) 4 month weighted moving average using 0.4 for the previous month, 0.3 for 2 months prior, 0.2 for 3 months prior and 0.1 for 4 months prior.

15 Points


15 Points

5

The forecasts generated by 2 forecasting methods and actual sales are as follows:


Month

Actual

Forecast 1

Forecast 2

1
269
275
268

2
289
266
287

3
294
290
292

4
278
284
298

5
268
270
274

6
269
268
270

7
260
261
259

8
275
271
275

Calculate the Mean Absolute Deviation (MAD) for each forecast.

· Forecast 1

· Forecast 2

15 Points


15 Points


6

What does Collaborative Planning, Forecasting, and Replenishment (CPFR) mean – please explain


10 Points

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