Questions from General Operations Management

Q: What are the main advantages that quantitative techniques for forecasting have over

What are the main advantages that quantitative techniques for forecasting have over qualitative techniques? What limitations do quantitative techniques have?

Q: List the specific weaknesses of each of these approaches to developing a

List the specific weaknesses of each of these approaches to developing a forecast: a. Consumer surveys. b. Sales force composite. c. Committee of managers or executives.

Q: How accurate is your local five-day weather forecast? Support

How accurate is your local five-day weather forecast? Support your answer with actual data.

Q: Contrast the reactive and proactive approaches to forecasting. Give several examples

Contrast the reactive and proactive approaches to forecasting. Give several examples of types of organizations or situations in which each type is used.

Q: Explain how flexibility in production systems relates to the forecast horizon and

Explain how flexibility in production systems relates to the forecast horizon and forecast accuracy.

Q: What is DF and why is it important?

What is DF and why is it important?

Q: The following table shows a tool and die company’s quarterly sales for

The following table shows a tool and die company’s quarterly sales for the current year. What sales would you predict for the first quarter of next year? Quarter relatives are SR1&Ac...

Q: .An analyst must decide between two different forecasting techniques for weekly

.An analyst must decide between two different forecasting techniques for weekly sales of roller blades: a linear trend equation and the naive approach. The linear trend equation is Ft  = 124 + 2t, and...

Q: Two different forecasting techniques (F1 and F2) were used to

Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: a. Compute MAD for each set of f...

Q: List the trade-offs you would consider for each of these

List the trade-offs you would consider for each of these decisions: a. Driving your own car versus public transportation. b. Buying a computer now versus waiting for an improved model. c. Buying a...