industrial-engineering

The actual demand for castings in a factory is 500 units and 635 units for the months of January 2026 and February 2026, respectively. The forecasted demand for January 2026 is 250...

The inventory holding cost of an item is ₹0.50 per unit per month and the ordering cost per order is ₹ 550. A stockist needs to supply 10000 units of the item per year to the custo...

The activities of a PERT network and their corresponding activity time estimates (in weeks) i.e., optimistic (t_o), most likely (t_m), and pessimistic (t_p) are given in the table...

Considering the actual demand and the forecast for a product given in the table below, the mean forecast error and the mean absolute deviation, respectively, are

An electric car manufacturer underestimated the January sales of car by 20 units, while the actual sales was 120 units. If the manufacturer uses exponential smoothing method with a...

The demand and forecast of an item for five months are given in the table. Month | Demand | Forecast ---|---|--- April | 225 | 200 May | 220 | 240 June | 285 | 300 July | 290 | 270...

Processing times (including setup times) and due dates for six jobs waiting to be processed at a work centre are given in the table. The average tardiness (in days) using shortest...

The sales of a product during the last four years were $$860, 880, 870$$ and $$890$$ units. The forecast for the fourth year was $$876$$ units. If the forecast for the fifth year,...

An item can be purchased for Rs.$$100.$$ The ordering cost is Rs.$$200$$ and the inventory carrying cost is $$10\% $$ of the item cost per annum. If the annual demand is 4000 units...

The most commonly used criteria for measuring forecast error is

Which of the following is a technique for forecasting?