SCM308 CH7

………………………….. is the prediction of the possible demand for a good or a service by considering past events and trends of similar events.

• Demand Risk

• Demand forecasting

• Demand Trends

• Demand Competition

…………………………..allows businesses to expect changes in the market and take precautionary measures if necessary.

• Risk pooling

• Insourcing

• Demand Forecasting

• Outsourcing

The more accurate the demand forecasting is, the more effective business planning decisions become.

• True

• False

By determining demand for certain services and sales, businesses will not be able to provide these services and goods to customers in a manner that will satisfy them.

• True

• False

Which of the following are the conventional techniques used to forecast demand.

• Perfect method, accurate method

• Opinion Polling Method, Statistical Method

• Supply forecast method, demand forecast method.

• Supply method, demand method

Framework for Demand Prediction of Location-Dependent Service consists of two models:

• The physical model and the logical model.

• The logical model and the illogical model.

• The physical model and the chemical model.

• The perfect model and the technical model.

The -------------------- is used when all the data is collected from the different sources and linked with each other to create a large database, which will be used to predict the demand.

• The physical model.

• The logical model.

• The chemical model.

• The technical model.

The logical model is used when calculating the demand for a location service in a systematic manner, it includes…………………:

• 4 steps

• 5 Steps

• 6 Steps

• 10 Steps

is the prediction of the possible demand for a good or a service by considering past events and trends of similar events.

Explain the three main potential advantages of demand forecasting.