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About Supply Chain Management: Forcasting Techniques and Value of Information
This document discusses forecasting techniques and the value of information in supply chain management. It describes qualitative and quantitative forecasting methods, with a focus on time series models. Several simple time series forecasting techniques are explained, including moving averages and single exponential smoothing. Moving averages take the average of past observations, while exponential smoothing gives more weight to recent observations and considers all past data. The document evaluates the accuracy of different techniques using mean squared error to determine the best model. Overall it provides an overview of foundational forecasting concepts and methods used in supply chain management.
Detailed Information
| Author: | ['Sayan Mitra'] |
|---|---|
| Publication Year: | 2018 |
| Pages: | 46 |
| Language: | English |
| Format: | |
| Price: | FREE |
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