Question 1

Oversupply is created by

Accepted Answer

A)  phantom demand. 
B)  returns and cancellations. 
C)  forecasting failures. 
D)  poor channel selection. 
A)  phantom demand. 
B)  returns and cancellations. 
C)  forecasting failures. 
D)  poor channel selection. A

Question 2

There are four types of forecast error measures that can be used.Name them,and choose one to discuss.

Accepted Answer

Four types of forecast error measures can be used.The first is called the cumulative sum of forecast errors (CFE).It calculates the total forecast error for a set of data,taking into consideration both negative and positive errors.This gives an overall measure of forecast error.However,taking into consideration both negative and positive errors,this method can produce an overall low error total,although individual period forecasts can either be much higher or much lower than actual demand.
The second measure of forecast error is mean squared error (MSE),which squares each period error so the negative and positive errors do not cancel each other out.MSE also provides a good indication of the average error per period over a set of demand data.
The third type is Mean Absolute Deviation (MAD).By taking the absolute value of each error,the negative and positive signs are removed and a good indication of average error per period is calculated.This measure is popular because it is easy to understand and provides a good indication of the accuracy of the forecast.
The final measure of forecast error is mean absolute percent error (MAPE),and it elates the forecast error to the level of demand so different types of forecasts can be compared.

Question 3

Materials management and physical supply are terms that cannot be used interchangeably.

Accepted Answer

A) True 
 B)False  False

Question 4

Two types of demand exist.What are they,and discuss how they influence the supply chain?

Accepted Answer

Two types of demand exist: independent a

Question 5

While there are four types of forecast error measures that can be used,none are foolproof.

Accepted Answer

A) True 
 B)False

Question 6

An outbound-to-customer logistics system is also referred to as

Accepted Answer

A)  integrated fulfillment. 
B)  dedicated fulfillment. 
C)  store fulfillment. 
D)  physical distribution. 
A)  integrated fulfillment. 
B)  dedicated fulfillment. 
C)  store fulfillment. 
D)  physical distribution.

Question 7

Define and discuss channels of distribution.Is this the same as marketing or logistics channel?

Accepted Answer

A channel of distribution consists of on

Question 8

Many industry initiatives have attempted to create efficiency and effectiveness through the integration of supply chain activities and processes.Among the various initiatives is/are

Accepted Answer

A)  quick response (QR) 
B)  vendor-managed inventory (VMI) 
C)  efficient consumer response (ECR) 
D)  All of these answers 
A)  quick response (QR) 
B)  vendor-managed inventory (VMI) 
C)  efficient consumer response (ECR) 
D)  All of these answers

Question 9

Dependent demand is directly influenced by independent demand.

Accepted Answer

A) True 
 B)False

Question 10

The essence of demand management is to manage customer demand so that overstocks are reduced and margin can be maintained.

Accepted Answer

A) True 
 B)False

Question 11

Adjusting a forecast for seasons basically uses a combination of seasonal factors and average demand to arrive at an adjusted forecast.

Accepted Answer

A) True 
 B)False

Question 12

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)  demand 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)  demand that cannot normally be anticipated 
D)  failure to properly execute the SO&P process plan

Question 13

Outbound-to-customer logistics systems are also referred to as physical distribution.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Demand management includes

Accepted Answer

A)  Flows of products. 
B)  Flows of services. 
C)  Information about capital. 
D)  All of these answers 
A)  Flows of products. 
B)  Flows of services. 
C)  Information about capital. 
D)  All of these answers

Question 16

Functional silos refers to:

Accepted Answer

A)  product storage for physical supply. 
B)  the non communication between customers and vendors. 
C)  a technique to secure corporate marketing strategies. 
D)  lack of coordination between departments. 
A)  product storage for physical supply. 
B)  the non communication between customers and vendors. 
C)  a technique to secure corporate marketing strategies. 
D)  lack of coordination between departments.

Question 17

Phantom demand is created by over-ordering during peak demand.

Accepted Answer

A) True 
 B)False

Question 18

A process that can be used to arrive at this consensus forecast is called the Sales and Operations Planning process.Discuss this process including the five steps used to implement this process.

Accepted Answer

The S&OP Benchmarking Consortium in the

Question 19

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 20

An inbound-to-operations logistics system is also referred to as

Accepted Answer

A)  physical distribution. 
B)  physical supply. 
C)  dedicated fulfillment. 
D)  demand management. 
A)  physical distribution. 
B)  physical supply. 
C)  dedicated fulfillment. 
D)  demand management.

Oversupply is created by

There are four types of forecast error measures that can be used.Name them,and choose one to discuss.

Materials management and physical supply are terms that cannot be used interchangeably.

Two types of demand exist.What are they,and discuss how they influence the supply chain?

While there are four types of forecast error measures that can be used,none are foolproof.

An outbound-to-customer logistics system is also referred to as

Define and discuss channels of distribution.Is this the same as marketing or logistics channel?

Many industry initiatives have attempted to create efficiency and effectiveness through the integration of supply chain activities and processes.Among the various initiatives is/are

Dependent demand is directly influenced by independent demand.

The essence of demand management is to manage customer demand so that overstocks are reduced and margin can be maintained.

Adjusting a forecast for seasons basically uses a combination of seasonal factors and average demand to arrive at an adjusted forecast.

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

Outbound-to-customer logistics systems are also referred to as physical distribution.

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

Demand management includes

Functional silos refers to:

Phantom demand is created by over-ordering during peak demand.

A process that can be used to arrive at this consensus forecast is called the Sales and Operations Planning process.Discuss this process including the five steps used to implement this process.

The internal balancing method deals with

An inbound-to-operations logistics system is also referred to as

Supply Chain Management: An Overview

Role of Logistics in Supply Chains

Global Supply Chains

Supply Chain Relationships

Supply Chain Performance Measurement and Financial Analysis

Supply Chain Technology Managing Information Flows

Order Management and Customer Service

Managing Inventory in the Supply Chain

Transportation: Managing the Flow of the Supply Chain

Distribution Managing Fulfillment Operations

Supply Chain Network Analysis and Design

Sourcing Materials and Services

Operations Producing Goods and Services

Managing Reverse Flows in the Supply Chain

Strategic Challenges and Change for Supply Chains

Filters

Exam 7: Demand Management

Oversupply is created by

There are four types of forecast error measures that can be used.Name them,and choose one to discuss.

Materials management and physical supply are terms that cannot be used interchangeably.

Two types of demand exist.What are they,and discuss how they influence the supply chain?

While there are four types of forecast error measures that can be used,none are foolproof.

An outbound-to-customer logistics system is also referred to as

Define and discuss channels of distribution.Is this the same as marketing or logistics channel?

Many industry initiatives have attempted to create efficiency and effectiveness through the integration of supply chain activities and processes.Among the various initiatives is/are

Dependent demand is directly influenced by independent demand.

The essence of demand management is to manage customer demand so that overstocks are reduced and margin can be maintained.

Adjusting a forecast for seasons basically uses a combination of seasonal factors and average demand to arrive at an adjusted forecast.

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

Outbound-to-customer logistics systems are also referred to as physical distribution.

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

Demand management includes

Functional silos refers to:

Phantom demand is created by over-ordering during peak demand.

A process that can be used to arrive at this consensus forecast is called the Sales and Operations Planning process.Discuss this process including the five steps used to implement this process.

The internal balancing method deals with

An inbound-to-operations logistics system is also referred to as

Supply Chain Management: An Overview

Role of Logistics in Supply Chains

Global Supply Chains

Supply Chain Relationships

Supply Chain Performance Measurement and Financial Analysis

Supply Chain Technology Managing Information Flows

Order Management and Customer Service

Managing Inventory in the Supply Chain

Transportation: Managing the Flow of the Supply Chain

Distribution Managing Fulfillment Operations

Supply Chain Network Analysis and Design

Sourcing Materials and Services

Operations Producing Goods and Services

Managing Reverse Flows in the Supply Chain

Strategic Challenges and Change for Supply Chains

Filters