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

February 11, 2024

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

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