Question 1

The weighted moving average method assigns:

Accepted Answer

A)  a value in each period being averaged. 
B)  a weight greater than 1. 
C)  information based on a simple average. 
D)  a weight to each previous period. 
A)  a value in each period being averaged. 
B)  a weight greater than 1. 
C)  information based on a simple average. 
D)  a weight to each previous period.

Question 2

External balancing methods involve managing production and inventory flexibility to help offset the imbalance of supply and demand.

Accepted Answer

A) True 
 B)False

Question 3

Bias measures how accurate the forecast is compared to actual demand.

Accepted Answer

A) True 
 B)False

Question 4

There are two types of demand. What are they, and how do they influence the supply chain?

Accepted Answer

Two types of demand exist: 
(1) independ

Question 5

What are the differences and similarities between outbound and inbound logistics systems? Which types of industries would place heavier emphasis on outbound systems? On inbound systems? Explain your choices.

Accepted Answer

In an effort to serve their customers, m

Question 6

While evaluating recent demand forecasts, Caleb discovered that his company made an error, resulting in a stockout. Which type of forecast error calculation is he using that reveals this information?

Accepted Answer

A)  MAD 
B)  CFE (bias) 
C)  MAPE 
D)  MSE 
A)  MAD 
B)  CFE (bias) 
C)  MAPE 
D)  MSE

Question 7

Which of the following does a forecast always assume?

Accepted Answer

A)  Base demand always moves in a positive direction 
B)  Business cycles do not exist 
C)  The past always repeats itself 
D)  Every forecast is seasonal 
A)  Base demand always moves in a positive direction 
B)  Business cycles do not exist 
C)  The past always repeats itself 
D)  Every forecast is seasonal

Question 8

Collaborative planning, forecasting, and replenishment (CPFR) has not been considered to be a good process, as it excludes transportation.

Accepted Answer

A) True 
 B)False

Question 9

The internal balancing method deals with:

Accepted Answer

A)  price and lead time. 
B)  inventory and production flexibility. 
C)  functional silos. 
D)  channel selection. 
A)  price and lead time. 
B)  inventory and production flexibility. 
C)  functional silos. 
D)  channel selection.

Question 10

A weighted moving average assigns higher weights to more recent periods.

Accepted Answer

A) True 
 B)False

Question 11

There are at least three forecasting methods. Name them and choose one to discuss in more detail, including advantages and disadvantages.

Accepted Answer

Simple Moving Average The simple moving

Question 12

Forecasting has become extremely accurate, especially since the development of the S&OP process.

Accepted Answer

A) True 
 B)False

Question 13

One type of demand fluctuation is caused by random variation. What is random variation?

Accepted Answer

A)  Errors in inventory management 
B)  Errors not caught by using exponential smoothing 
C)  A development that cannot normally be anticipated 
D)  Failure to properly execute the SO&P process plan 
A)  Errors in inventory management 
B)  Errors not caught by using exponential smoothing 
C)  A development that cannot normally be anticipated 
D)  Failure to properly execute the SO&P process plan

Question 14

What are the similarities between the CPFR and S&OP processes? What are the differences?

Accepted Answer

One of the similarities between the CPFR

The weighted moving average method assigns:

External balancing methods involve managing production and inventory flexibility to help offset the imbalance of supply and demand.

Bias measures how accurate the forecast is compared to actual demand.

There are two types of demand. What are they, and how do they influence the supply chain?

What are the differences and similarities between outbound and inbound logistics systems? Which types of industries would place heavier emphasis on outbound systems? On inbound systems? Explain your choices.

While evaluating recent demand forecasts, Caleb discovered that his company made an error, resulting in a stockout. Which type of forecast error calculation is he using that reveals this information?

Which of the following does a forecast always assume?

Collaborative planning, forecasting, and replenishment (CPFR) has not been considered to be a good process, as it excludes transportation.

The internal balancing method deals with:

A weighted moving average assigns higher weights to more recent periods.

There are at least three forecasting methods. Name them and choose one to discuss in more detail, including advantages and disadvantages.

Forecasting has become extremely accurate, especially since the development of the S&OP process.

One type of demand fluctuation is caused by random variation. What is random variation?

What are the similarities between the CPFR and S&OP processes? What are the differences?

Supply Chain Management: an Overview

Global Dimensions of Supply Chains

Role of Logistics in Supply Chains

Supply Chain and Omni Channel Network Design

Sourcing Materials and Services

Operations Producing Goods and Services

Order Management and Customer Service

Managing Inventory in the Supply Chain

Distribution Managing Fulfillment Operations

Transportation Managing the Flows of the Supply Chain

Aligning Supply Chains

Supply Chain Performance Measurement and Financial Analysis

Supply Chain Technology Managing Information Flows

Strategic Challenges and Change for Supply Chains

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Exam 7: Demand Management

The weighted moving average method assigns:

External balancing methods involve managing production and inventory flexibility to help offset the imbalance of supply and demand.

Bias measures how accurate the forecast is compared to actual demand.

There are two types of demand. What are they, and how do they influence the supply chain?

What are the differences and similarities between outbound and inbound logistics systems? Which types of industries would place heavier emphasis on outbound systems? On inbound systems? Explain your choices.

While evaluating recent demand forecasts, Caleb discovered that his company made an error, resulting in a stockout. Which type of forecast error calculation is he using that reveals this information?

Which of the following does a forecast always assume?

Collaborative planning, forecasting, and replenishment (CPFR) has not been considered to be a good process, as it excludes transportation.

The internal balancing method deals with:

A weighted moving average assigns higher weights to more recent periods.

There are at least three forecasting methods. Name them and choose one to discuss in more detail, including advantages and disadvantages.

Forecasting has become extremely accurate, especially since the development of the S&OP process.

One type of demand fluctuation is caused by random variation. What is random variation?

What are the similarities between the CPFR and S&OP processes? What are the differences?

Supply Chain Management: an Overview

Global Dimensions of Supply Chains

Role of Logistics in Supply Chains

Supply Chain and Omni Channel Network Design

Sourcing Materials and Services

Operations Producing Goods and Services

Order Management and Customer Service

Managing Inventory in the Supply Chain

Distribution Managing Fulfillment Operations

Transportation Managing the Flows of the Supply Chain

Aligning Supply Chains

Supply Chain Performance Measurement and Financial Analysis

Supply Chain Technology Managing Information Flows

Strategic Challenges and Change for Supply Chains

Filters