Explain moving averages and exponential smoothing, Operation Management

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1. What is quality function deployment (QFD)? Provide an example of how it can be used.

2. List the five advantages of successful implementation of group technology.

3. Describe the differences between moving averages and exponential smoothing.

4. Which one of the four components of a time series is rarely forecast, and why is this?

5. What is a make-or-buy decision and why is it so important?

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