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12 Cards in this Set
- Front
- Back
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Demand Planning |
overall process of forecasting + managing customer demand to create plan of demand aligned with company's goals |
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demand forecasting |
process by which managers predict demand patterns |
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demand management |
proactive approach; managers try to influence pattern of demand |
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autocorrelation |
-correlation of current demand values with past values |
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forecast error |
difference btween forecast and actual demand (the ERROR) |
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judgement based forecasting |
forecasts built on estimations and opinions of experts |
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types of judgement based forecasting, the who's of each |
-grassrooting: those who are in close contact w customers -executive judgement:high level experience managers/execs -historical: data from other products similar -marketing research: purchase patterns and attitudes -delphi: panel of experts |
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seasonal index |
period actual demand/average period of demand used to adjust for seasonality |
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MAD used to |
compare across product lines |
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3 basic ways managers try to influence demand |
1. price changes, promos, incentives 2. manage order fulfillment times 3. encourage customer substitute |
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CPFR |
collaborative, planning, forecasting, and replenishment |
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Activities oof CPFR |
-market planning -resource planning (forecasting) -execution -analysis of performance metrics |
