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
6What does Collaborative Planning, Forecasting, and Replenishment (CPFR) mean – please explain
10 Points
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