Some measures of forecasting accuracy include mean absolute deviation, mean absolute percentage error, and mean squared error. The formula for each is dependent on the forecast error, which is calculated by using the equation:
a. Actual demand for period t divided by the forecasted demand for period t
b. Actual demand for period t plus the forecasted demand for period t
c. Actual demand for period t minus the forecasted demand for period t
d. The average of Actual demand for period t and forecasted demand for period t
c
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Designing ground-breaking products and getting them to market quickly is an example of:
a. product innovation b. production process innovation c. supply chain management d. management accounting systems
A commitment statement has three properties: a high degree of finality, a high degree of specificity, and a clear statement of ________.
What will be an ideal response?
CPM stands for:
a. cost per million b. cost per media c. cost per thousand d. cost per minute e. none of the above
Benchmark firms have driven down costs of supply-chain performance
Indicate whether the statement is true or false