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The weighted moving average forecast for the fifth period with weights of 0.15 for period 1, 0.20 for period 2, 0.25 for period 3, and 0.40 for period 4, using the demand data shown below is
Productive System
An arrangement of resources and processes that interact and transform inputs into valuable outputs, such as goods or services.
Just-In-Time (JIT)
A production strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs, delivering materials just when they are needed.
Customer Wants
Specific desires or requirements of consumers that businesses aim to meet with their products or services in order to satisfy and retain their clientele.
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