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The first step in devising an effective supply chain strategy is to consider the nature of the demand for your products.

Short-range forecasts tends to be more accurate than longer-range forecasts.

A major challenge in inventory management is to maintain a balance between inventory investment and customer service

Uncertainty is lower for aggregated forecasts. For example, in general, a manager can be more confident about the forecast of customer demand for “all toy cars” than a forecast for “yellow toy cars”.

The key difference between an EOQ inventory model where demand is known and one where demand is uncertain is in computing the reorder point.

Given an actual demand this period of 103, a forecast value for this period of 99, and an alpha of .4, what is the exponential smoothing forecast for next period?

Longer-range forecasts tend to be more accurate than shorter-range forecasts. For example, a forecast of customer demand in June 2035 is usually more accurate than a forecast for June 2025.

The following data are pulled from a recent annual report. Calculate percent invested in inventory. Assets Raw material inventory: $120,000 Work-in-process inventory: $50,000 Finished goods inventory: $300,000 Property, plant & equipment: $500,000 Other assets: $300,000 Total assets: $1,270,000   Condensed Income Statement Revenue: $2,000,000 Cost of goods sold: $600,000 Other expenses: $1,000,000 Net income: $400,000

The primary motor cortex is on the surface of the

Which cranial nerve sends balance and hearing sensations to the brain?