Term
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Definition
| A measure of the overall forecast error for a model. |
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Term
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Definition
| Averages of the squared differences between the forcasted and observed values. |
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Term
| Mean Absolute Percent Error |
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Definition
| The average of the absolute differences between the forcasted and observed values. Expressed as a percent. |
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Term
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Definition
| A time series forecasting method that fits a line to a series of historical data and predicts future values. |
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Term
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Definition
| Regular upwards or downwards movement in a time series that tie to recurring events. |
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Term
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Definition
| Patterns in the data that occur every several years. |
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Term
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Definition
| Patterns in the data that occur every several years. |
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Term
| Coefficient of Correlation |
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Definition
| The measure of the strength between two variables. |
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Term
| Coefficent of Determination |
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Definition
| The amount of variation in the dependent variable about its mean. |
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Term
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Definition
| A measurement of how well a forecast is at predicting values. |
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Term
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Definition
| Positions works and equipment to provide movement of information. |
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Term
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Definition
| Allocates display spaces and responds to customer behaviors. |
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Term
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Definition
| Addresses trade-offs between space and material handling. |
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Term
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Definition
| Address the layout requirements of large unmovable objects. |
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Term
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Definition
| Deals with low volume high variety productions. |
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Term
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Definition
| Seeks the best personnel and machine layouts for continuous production. |
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Term
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Definition
| Avoiding storage costs by processing them as they arrive. |
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Term
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Definition
| Used in warehouses to locate stock where ever there is open space. |
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Term
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Definition
| The maximum amount of time each project is allowed at each work station. |
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Term
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Definition
| Project is created in stages or batches. Usually many going on at once. |
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Term
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Definition
| Very high levels of output. |
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Term
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Definition
| a defining capability or advantage that distinguishes an enterprise from its competitors. |
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Term
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Definition
| A companies guidelines for globalization. |
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Term
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Definition
| Companies operated headquarters in different regions where they operate. |
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Term
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Definition
| A one time production due to a customer order. |
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