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29 Cards in this Set
- Front
- Back
Which of the following indices provided by the Institute of supply management is considered the most important by economists because it is a composite of five weighted seasonally adjusted indices |
Purchasing managers index |
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According to the textbook which of the following is not a way to closely match supply and demand? |
Maintaining a rigid pricing system |
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The impact of poor communication and inaccurate forecasts resonates along the supply chain and results in the |
Bullwhip affect |
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Inaccurate forecasts can result in negative outcomes like: |
Stock outs and poor responsiveness to market dynamics |
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Which of the following is not a type of qualitative forecasting? |
Naïve method |
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The following are all common qualitative forecasting models except: |
Trend variation |
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Which of the following statements is false: A. Time series forecasting is based on the assumption that the future is an extension of the past B. Cause and effect forecasting assumes that one or more factors are related to demand and therefore can be used to predict future demand C. All quantitative methods become less accurate as the forecasts time horizon increases D. It is generally not recommended to use a combination of both quantitative and qualitative methods |
D |
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Your company is conducting forecasting that revolves around the current recession and expansion of the US economy. This type of forecasting can be referred to as what component of a time series? |
Cyclical variations |
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The following time series approach to forecasting uses historical data to generate a forecast and works well when demand is fairly stable overtime: |
Simple moving average |
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Exponential smoothing forecast has the same value as the naïve forecast when a in the exponential of smoothing model is equal to: |
1 |
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One common cause and affect model used is: |
Regression analysis |
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Some measures of forecasting accuracy include mean absolute deviation, mean absolute percentage error, and mean squared error. The formula for each is dependent on the forecast error, which is calculated by using the equation: |
Actual demand for period T minus the forecasted demand for period T |
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If a tracking signal is positive which of the following is true? |
Actual value is higher than forecast |
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Which of the following is an engineering document that shows an inclusive listing of all the component parts and assemblies making up the final product? |
Bill of materials |
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The goal of resource planning is to minimize the discrepancy between what capacity and: |
Demand |
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Which of the following consist of different products that share similar characteristics, components or manufacturing processes |
Product family |
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Which of the following seeks to develop short range plans seeking to effectively and efficiently manage components and or subassemblies over time period of a few days to a few weeks? |
MRP |
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To check the feasibility of the master production schedule, one would look to: |
Rough-cut capacity plan |
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Which of the following is a long-range materials plan: |
Aggregate production plan |
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In a bill of materials, items at which level are independent demand items? |
Level zero |
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Which of the following basic production strategies used for addressing the aggregate planning problem would work best with make to order manufacturing firms |
Chase production strategy |
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Which of the following is not one of the three basic methods used to calculate the available to promise quantities: A. Discrete available to promise B. Cumulative available to promise without looking ahead C. Indiscreet available to promise D. Cumulative available to promise with looking ahead |
C |
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Which of the following could be considered a master production schedule for a service firm? A. The reservation book utilized by a restaurant B. The employee shift schedule utilized by an auto shop C. A hospital patients personal information fill D. The recipe book utilized by a chef at a restaurant |
A |
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Which of the following MRP terms represents a committed order awaiting delivery for a specific period? |
Scheduled receipt |
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Which of the following MRP terms represent the parts demanded by a parent? |
Component |
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The acronym ERP is short for: |
Enterprise resource planning |
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Which of the following is considered an advantage/benefit of utilizing an ERP system |
It allows organizations to more easily communicate information about operational changes to supply chain members |
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Which of the following is considered an add vantage/benefit of utilizing an ERP system(2) |
Enables the company to utilize a single centralized database system, thus illuminating duplicate data entry |
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While ERP is a relatively new technology, it has grown rapidly since the early 1990s. Which of the following is the reason that contributed to its rapid growth? |
The year 2000 millennium bug |