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Forecasting Techniques
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Forecasting Techniques

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Questions and Answers

What is the purpose of Material Requirement Planning?

  • To determine the quantity and timings of planned orders to be released (correct)
  • To classify items in inventory based on their value, availability and consumption rate
  • To manage independent demand of an item
  • To determine the capacity requirement to produce a product

    • What is ERP?

  • A type of MRP computer system
  • An advanced MRP-II system integrated with customers and suppliers (correct)
  • A system used to manage inventory based on their value, availability and consumption rate
  • A system that is not related to MRP or MRP-II

    • What is the formula to calculate the order quantity?

  • Q = d (t b + L) + Z σ d t b + L - I (correct)
  • Q = d (t + L) + Z σ d t b
  • Q = d (t b - L) + Z σ d t b + L
  • Q = d (t - L) + Z σ d t b

    • What is the significance of 95 per cent service level?

    <p>It determines the order quantity</p> Signup and view all the answers

    What is dependent demand?

    <p>Demand that is dependent on other items</p> Signup and view all the answers

    What is independent demand?

    <p>Demand that is independent of other items</p> Signup and view all the answers

    What is the purpose of inventory models?

    <p>To explain the importance of inventory</p> Signup and view all the answers

    What is the difference between dependent and independent demand?

    <p>Dependent demand is dependent on other items, while independent demand is independent of other items</p> Signup and view all the answers

    What is the trend-adjusted forecast in exponential smoothing?

    <p>an exponentially smoothed forecast and an estimated trend value</p> Signup and view all the answers

    What is the primary method for associative forecasting?

    <p>Delphi method</p> Signup and view all the answers

    What is the purpose of the mean absolute deviation (MAD)?

    <p>Measuring the forecast accuracy</p> Signup and view all the answers

    How can customer service levels be improved?

    <p>By improving the layout of the warehouse</p> Signup and view all the answers

    Which forecasting technique is based on the previous forecast plus a fixed fraction of the forecast error?

    <p>Exponential smoothing</p> Signup and view all the answers

    What is the main characteristic of moving average forecasting techniques?

    <p>Immediately reflect changing patterns in the data</p> Signup and view all the answers

    What is the purpose of the load summary in the given layout?

    <p>To evaluate the layout according to the material handling cost method</p> Signup and view all the answers

    What is the result of improving the layout by exchanging functions within rooms?

    <p>A decrease in the material handling cost</p> Signup and view all the answers

    What is one of the reasons for using material handling equipment?

    <p>To increase the space utilization</p> Signup and view all the answers

    What is one of the factors to consider when selecting material handling equipment?

    <p>Size and shape of the materials</p> Signup and view all the answers

    What is NOT one of the processes covered in material handling?

    <p>Surface finishing</p> Signup and view all the answers

    What is one of the characteristics of material handling processes?

    <p>Random production</p> Signup and view all the answers

    What is one of the ways AGV responds to bottlenecks in a process?

    <p>Reroutes the materials to alternative workstations</p> Signup and view all the answers

    What is a factor to consider when selecting material handling equipment?

    <p>Cost of material handling equipment</p> Signup and view all the answers

    What is one of the benefits of material handling equipment?

    <p>To improve operating efficiency</p> Signup and view all the answers

    What is a factor to consider when selecting material handling equipment?

    <p>Layout of the plant and production centre</p> Signup and view all the answers

    What is the primary goal of expediting in production planning?

    <p>to ensure production is carried out as per plan</p> Signup and view all the answers

    What does a physical work operator need to consider about their task?

    <p>if the task is according to their capability</p> Signup and view all the answers

    What is the purpose of production planning and control?

    <p>to coordinate all manufacturing activities</p> Signup and view all the answers

    What is a key aspect of work study in an organization?

    <p>to improve efficiency and economy</p> Signup and view all the answers

    What is an important consideration in the physical work environment?

    <p>ambient conditions</p> Signup and view all the answers

    What is a key aspect of ergonomics in production planning?

    <p>physical and mental demands on the operator</p> Signup and view all the answers

    What is a critical aspect of production planning and control?

    <p>routing and scheduling of operations</p> Signup and view all the answers

    What is the primary purpose of wage determination?

    <p>to determine the fair wage for the operator</p> Signup and view all the answers

    What is the title of the book mentioned in the content?

    <p>Product Design and Development</p> Signup and view all the answers

    What is NOT a part of flexible manufacturing system?

    <p>retrieval</p> Signup and view all the answers

    What is a characteristic of DNC system?

    <p>can control more than one machines simultaneously</p> Signup and view all the answers

    What type of machines is NOT a part of FMS workstations?

    <p>Grinding machines</p> Signup and view all the answers

    What is the basis of generative CAPP?

    <p>part family and automated search of route sheet</p> Signup and view all the answers

    Study Notes

    Forecasting

    • In trend-adjusted exponential smoothing, the forecast consists of an exponentially smoothed forecast and a smoothed trend factor.
    • The mean absolute deviation (MAD) is used to measure forecast accuracy.
    • Moving average forecasting techniques are used to smoothen the variations in the data.
    • Associative forecasting is primarily done using regression analysis.
    • Customer service levels can be improved by ensuring the order quantity is sufficient, e.g., for 95% service level, the order quantity should be Q = d (t b + L ) + Z σ d t b + L − I.

    Inventory Management

    • Material requirement planning (MRP) specifies the quantity of materials required to produce products, quantities and timings of planned orders, and capacity requirements.
    • Enterprise resource planning (ERP) is an advanced MRP-II system integrated with customers and suppliers.
    • Dependent and independent demand of an item differ in terms of their demand patterns.

    Flexible Manufacturing Systems

    • Flexible manufacturing systems (FMS) consist of highly automated group technology machine cells, integrated computer systems, and forecasting.
    • Retrieval CAPP (Computer-Aided Process Planning) is based on the determination of routesheet by an engineer, whereas generative CAPP is based on part family and automated search of route sheet.
    • A DNC (Direct Numerical Control) system can control more than one machine simultaneously and generate programs automatically.

    Material Handling

    • Material handling covers the processes of storing, handling, and moving materials.
    • Selection of material handling equipment is based on factors such as size, shape, weight, and volume of materials, layout of the plant, and production processes.
    • Material handling efficiency and automation can be improved by considering factors such as material handling cost, cost of equipment, and production processes.

    Production Planning and Control

    • Production planning and control (PPC) is a tool to coordinate all manufacturing activities.
    • Expediting ensures that production is carried out as per plan and delivery schedules are met.
    • PPC involves sequencing of operations, routing, time scheduling, and other activities to ensure efficient production.

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    Related Documents

    4)_MCQ_OR_PRAVIN390Q.pdf

    Description

    Test your knowledge of forecasting techniques, including trend-adjusted exponential smoothing, moving average forecasting, and associative forecasting. Learn how to measure forecast accuracy and improve customer service levels.

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