Practice Operations and Supply Chain - 18.2.3 | 18. Data Science for Business and Decision- Making | Data Science Advance
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is inventory optimization?

💡 Hint: Think about how a store balances stock.

Question 2

Easy

What is the purpose of demand forecasting?

💡 Hint: Consider why companies want to know what customers will buy.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What technique is often used for inventory optimization?

  • Linear Programming
  • Regression Analysis
  • Time Series Analysis

💡 Hint: Think about balancing stock and costs.

Question 2

True or False: Demand forecasting helps in planning inventory.

  • True
  • False

💡 Hint: Think about how businesses prepare for customer needs.

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company struggles with high inventory costs while facing fluctuating customer demands. Create a linear programming model that can optimize their inventory management.

💡 Hint: Think about how each product affects overall costs.

Question 2

A food delivery startup uses past order data to predict future sales. How could they implement a demand forecasting model to accommodate peak and off-peak hours?

💡 Hint: Consider seasonality and local events.

Challenge and get performance evaluation