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APICS CPIM - Basics of SC Mgmt > Forecasting > Flashcards

Flashcards in Forecasting Deck (15):
0

Demand data that is erratic over time.

DYNAMIC DEMAND

1

The average demand for all periods that averages out seasonality.

DESEASONALIZED DEMAND

2

General upward or downward movement of a variable over time.

TREND

4

A repetitive pattern of demand from year to year with some periods higher than others.

SEASONALITY

5

An arithmetic average of a certain number of recent observations.

MOVING AVERAGE

6

Based on factors outside of the organization.

EXTRINSIC

7

A fluctuation in data that is caused by uncertain or random occurrences.

RANDOM VARIATION

8

Same as deseasonsalized demand.

AVERAGE DEMAND

9

Based on factors from within the company.

INTRINSIC

10

An index of total business activities at the regional, national, and global levels.

ECONOMIC INDICATOR

11

A consistent deviation from the mean in one direction (high or low).

BIAS

12

Historical data is used to project into the future.

QUANTITATIVE FORECASTING

13

A number used to adjust data to seasonal demand.

SEASONAL INDEX

14

Demand data that retain the same general shape over time.

STABLE DEMAND

15

Intuition or judgment is used to predict into the future.

QUALITATIVE FORECASTING