NDFS 445 Food Service Systems Exam 2 || A+ Graded Already.
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Course
NDFS 445
Institution
NDFS 445
Forecasting Types correct answers Time Series
Casual
Subjective
Time Series Forecasting correct answers Uses past demand data to predict the future demand
Short-term forecasts; a couple weeks in advance
Two types of Time Series; Moving Average and Exponential Smoothing
Moving Average Mode...
NDFS 445 Food Service Systems Exam 2 || A+ Graded
Already.
Forecasting Types correct answers Time Series
Casual
Subjective
Time Series Forecasting correct answers Uses past demand data to predict the future demand
Short-term forecasts; a couple weeks in advance
Two types of Time Series; Moving Average and Exponential Smoothing
Moving Average Model correct answers Time series forecasting model that derives a forecast by
taking an average of recent demand values
Average 5 of the most recent, then keep dropping the oldest
Most common
Exponential Smoothing correct answers Time series forecasting model that takes a weighted
averaging method based on previous forecast plus a percentage of the forecast error
New forecast = [judgement factor x last demand] + [1 - judgement factor x last forecast]
Most accurate
Casual Forecasting correct answers High cost for developing
For short term but used in medium and long term forecasting
Linear regression between item being forecast-ed and factors that affect it
Subjective Forecasting correct answers Used when there isn't any or much history
Research with the market, other restaurants...
Physical Inventory correct answers Physically counting the inventory
Perpetual Inventory correct answers Take inventory as you go, count with a computer system -
record everything that is used and everything that is put in to inventory
ABC Inventory Method correct answers Depending on how expensive a product is you may
count it every night (like steaks and that would be a A label) vs. something cheaper you'd check
less often (like sugar packets and that would be a C label)
Minimum/Maximum Inventory Method correct answers Establishing how much of an item you
want to have and how little the inventory gets before you order more.
, M/M Inventory: Safety Stock correct answers If you get to your minimum and when you order it,
they're out, you have a safety amount
M/M Inventory: Lead Time correct answers Factor in how much time it will take for the order to
come in
M/M Inventory: Usage Rate correct answers How frequently you go through the product
M/M Inventory: Reorder Point correct answers The point to when you need to order more so you
get to your minimum when you get the new order in
Economic Order Quantity Inventory Method correct answers Balance of ordering cost and
inventory holding cost
Ordering cost decreases as the size of the order increases
Holding cost varies directly with the order quantity
Getting things in bulk to save money but also not too much so it doesn't take up a ton of storage
room
Three Q's of Receiving correct answers Quality
Quantity
Quote (Cost)
Decentralized Service correct answers Produced and then transferred to another location for
assembly
Difficult to monitor and control standards
Requires more equipment and staff
Centralized Service correct answers Plates or trays are assembled in area close to production
Requires less staff and handling of food
Conventional Service correct answers Buying products in different stages and they take different
amounts of effort to make ready to sell
Ready Prepared Service correct answers Make the food and then freeze it to be ready for service
Assembly/Serve Service correct answers Get food in that is ready to serve right away where
there are simple things that need to be done to make it ready (airplanes, movie theaters...)
Commissary Service correct answers Cook in a place and distribute out
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