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Operations Management: Processes and Supply Chains, 12th Edition
book

Operations Management: Processes and Supply Chains, 12th Edition

by Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
January 2018
Intermediate to advanced
480 pages
236h 9m
English
Pearson
Content preview from Operations Management: Processes and Supply Chains, 12th Edition

Time-Series Methods

Rather than using independent variables for the forecast as regression models do, time-series methods use historical information regarding only the dependent variable. These methods are based on the assumption that the dependent variable’s past pattern will continue in the future. Time-series analysis identifies the underlying patterns of demand that combine to produce an observed historical pattern of the dependent variable and then develops a model to replicate it. In this section, we focus on five statistical time-series methods that address the horizontal, trend, and seasonal patterns of demand: simple moving averages, weighted moving averages, exponential smoothing, trend projection with regression, and multiplicative ...

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Publisher Resources

ISBN: 9780134741062