[Solved] Business Finance – Management supply chain hw 1 Assignment

Assignment Prompt & Instructions

answer the questions – ## IntroductiontoSupplyChainManagementSPRING2024HWAssignment1-2.doc **## IntroductiontoSupplyChainManagementSPRING2024HWAssignment1-2.doc** **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:<br>Compute the sales forecast for <br>July using the following approaches:<br> <br>MonthUnits<br>January <br>18,000<br>February<br>22,000<br>March<br>16,000<br>April<br>18,000<br>May<br>20,000<br>June<br>24,000<br>a) 4 month simple moving average<br>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:<br>**MonthActualForecast 1Forecast 2**<br>1<br>269<br>275<br>268<br>2<br>289<br>266<br>287<br>3<br>294<br>290<br>292<br>4<br>278<br>284<br>298<br>5<br>268<br>270<br>274<br>6<br>269<br>268<br>270<br>7<br>260<br>261<br>259<br>8<br>275<br>271<br>275<br>Calculate the Mean Absolute Deviation (MAD) for each forecast. <br>· Forecast 1<br>· Forecast 2 | 15 Points | | | | 15 Points | | | | | | **6** | What does Collaborative Planning, Forecasting, and Replenishment (CPFR) mean – please explain | 10 Points | **## IntroductiontoSupplyChainManagementSPRING2024HWAssignment1-2.doc** **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:<br>Compute the sales forecast for <br>July using the following approaches:<br> <br>MonthUnits<br>January <br>18,000<br>February<br>22,000<br>March<br>16,000<br>April<br>18,000<br>May<br>20,000<br>June<br>24,000<br>a) 4 month simple moving average<br>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:<br>**MonthActualForecast 1Forecast 2**<br>1<br>269<br>275<br>268<br>2<br>289<br>266<br>287<br>3<br>294<br>290<br>292<br>4<br>278<br>284<br>298<br>5<br>268<br>270<br>274<br>6<br>269<br>268<br>270<br>7<br>260<br>261<br>259<br>8<br>275<br>271<br>275<br>Calculate the Mean Absolute Deviation (MAD) for each forecast. <br>· Forecast 1<br>· Forecast 2 | 15 Points | | | | 15 Points | | | | | | **6** | What does Collaborative Planning, Forecasting, and Replenishment (CPFR) mean – please explain | 10 Points |