What advantages as a forecasting tool does exponential smoothing have over moving averages? What factors enter into the choice of a value for the smoothing constant in exponential smoothing? Explain factors that may affect (1) capacity utilization and (2) capacity efficiency? Describe the five process types, and indicate the kinds of situations in which each would be used What are the trade-offs that occur when a process layout is used? What are the trade-offs that occur when a product layout is used?
5 Process Types:
-Repetitive
-Discrete
-Job Shop
-Process (batch)
-Process (continuous)