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Part A
Based on your reading assignments from Chapter 12, your experience, and other sources (please mention them: such as magazines, newspapers, TV news, articles, etc.), explain the main difference between the application of time series regression as a method of forecasting and moving averages. Also, include one example of each case.
Time series analysis models: Forecasting models that compute forecast, using historical data arranged in the order of occurrence.
Moving averages: A forecasting model that computes a forecast as the average of demands over a number of immediate past periods.
PART B
Chapter 14 provides a detail explanation of MRP and other systems for planning resources. Explain, using your own words, the significance of MRP in Supply Chain Management.
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