Smoothing Constant Notes: Definitions & Explanations PDF | Download eBooks
Study Smoothing Constant lecture notes PDF with supply chain management definitions and explanation to study What is Smoothing Constant?. Study smoothing constant explanation with SCM terms to review supply chain management course for online MBA programs.
Smoothing Constant Definition:
Weighting factor used in an exponential smoothing forecast, a number greater than or equal to 0 and less than or equal to 1.
Operations Management: Sustainability and Supply Chain Management by Jay Heizer, Barry Render, Chuck Munson
Smoothing Constant Notes:
The variable used in the time series technique to determine how the historical data related to time series values are weighted. This is used on the basis of exponential smoothing and if the constant is greater the higher value assigned to the latest period. The value for smoothing constant must be between 0 and 1.
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