Question 1

The bullwhip effect indicates that the variation in demand will be higher with the retailer as compared to the manufacturer in a supply chain.

Accepted Answer

A) True 
 B)False

Question 2

Forecasts based on judgment and opinion do not include which of the following?

Accepted Answer

A) Customer surveys 
B) Delphi method 
C) Averaging techniques 
D) Greenfield forecasting 
A) Customer surveys 
B) Delphi method 
C) Averaging techniques 
D) Greenfield forecasting

Question 3

What is the demand pattern that can be used to describe the drop in demand for consumer products that coincides with economic recession periods?

Accepted Answer

A) Random 
B) Trend 
C) Cycle 
D) Seasonal pattern 
A) Random 
B) Trend 
C) Cycle 
D) Seasonal pattern

Question 4

What is the bullwhip effect in supply chains?

Accepted Answer

A) It is the point at which the total cost is equal to the total revenue. 
B) It is a technique applied to manage projects in a supply chain. 
C) It is the sharing of data on a continuous basis between the supplier and customer. 
D) It is the increasing upstream supply chain variation resulting from forecasts in a supply chain. 
A) It is the point at which the total cost is equal to the total revenue. 
B) It is a technique applied to manage projects in a supply chain. 
C) It is the sharing of data on a continuous basis between the supplier and customer. 
D) It is the increasing upstream supply chain variation resulting from forecasts in a supply chain.

Question 5

To reduce inventory variability in the supply chain and to better match demand with supply at various stages in the supply chain,which of the following two practices are effective?
A)Communication
B)Longer lead-times
C)Collaboration
D)Quantity discounts

Accepted Answer

The answer of To reduce inventory variability in the supply...

Question 6

In the context of demand management,the loss and replacement of customers is known as ________.

Accepted Answer

The answer of In the context of demand management,the loss...

Question 7

If a pattern appears like cycles or seasonality when a dependent variable is plotted against time,one should use time series analysis instead of regression analysis.

Accepted Answer

A) True 
 B)False

Question 8

Forecasting techniques such as moving averages and exponential smoothing represent smoothed (averaged)values of the historical time series data.

Accepted Answer

A) True 
 B)False

Question 9

What is the Mean Absolute Percent Deviation (MAPD)if the sum of the absolute forecast error over 12 periods is 174 and the cumulative demand over the same 12 periods is 1500?

Accepted Answer

A) 8)62% 
B) 11.60% 
C) 12.5% 
D) 19.75% 
A) 8)62% 
B) 11.60% 
C) 12.5% 
D) 19.75%

Question 10

The double exponential smoothing technique requires the use of two smoothing constants.

Accepted Answer

A) True 
 B)False

Question 11

What is the demand pattern that can be used to describe the demand for NFL merchandise around the Super Bowl every year?

Accepted Answer

A) Random 
B) Trend 
C) Cycle 
D) Seasonal pattern 
A) Random 
B) Trend 
C) Cycle 
D) Seasonal pattern

Question 12

A forecast method is generally said to be accurate when the errors exhibit an identifiable pattern.

Accepted Answer

A) True 
 B)False

Question 13

NextGenTabs has introduced their latest model of tablet computers and these have been very well received and popular in the market.NextGenTabs has seen the demand for their tablet computers showing a steady increase month over month for the last six months.In using an exponential smoothing forecasting technique to forecast demand for future periods,NextGenTabs should use a smoothing constant (α)that is

Accepted Answer

A) low. 
B) high. 
C) random. 
D) variable. 
A) low. 
B) high. 
C) random. 
D) variable.

Question 14

Use the information below to answer the following question(s).
The following table provides demand and forecast information for a specialty store's products which are particularly popular around Halloween.
 $$\begin{array} { | l | l | l | } 
\hline \text { Period/ Quarter } & \text { Demand } & \begin{array} { l } 
\text { Regression (De- } \
\text { seasonalized) Forecast }
\end{array} \
\hline \text { Winter 13 } & 80 & 90 \
\hline \text { Spring } & 240 & 198.6 \
\hline \text { Summer } & 300 & 307.1 \
\hline \text { Fall } & 440 & 415.7 \
\hline \text { Winter 14 } & 400 & 524.3 \
\hline \text { Spring } & 720 & 632.9 \
\hline \text { Summer } & 700 & 741.4 \
\hline \text { Fall } & 880 & 850 \
\hline
\end{array}$$
-What is the seasonal index for the Spring season/ quarter?

Accepted Answer

A) 0.988 
B) 1.171 
C) 0.255 
D) 0.837 
A) 0.988 
B) 1.171 
C) 0.255 
D) 0.837

Question 15

Seasonal indices can be used to de-seasonalize demand or incorporate seasonality into a forecast.

Accepted Answer

A) True 
 B)False

Question 16

A measure of forecasting error that tracks the average percent of error is known as ________.

Accepted Answer

mean avera

Question 17

The exponential smoothing forecasting technique is a form of weighted moving average.

Accepted Answer

A) True 
 B)False

Question 18

A forecast is an assertion about the future whose outcome is known.

Accepted Answer

A) True 
 B)False

Question 19

Bias exists when the forecast tends to be greater or less than the actual demand.

Accepted Answer

A) True 
 B)False

Question 20

At the end of June (and using the historical data up to and including the month of June),a manager develops the following equation to predict monthly sales: Y = 25,000 + 125x.What is the forecast for the month of September using this linear trend line equation?

Accepted Answer

A) 25,250 
B) 25,375 
C) 25,500 
D) 26,000 
A) 25,250 
B) 25,375 
C) 25,500 
D) 26,000

The bullwhip effect indicates that the variation in demand will be higher with the retailer as compared to the manufacturer in a supply chain.

Forecasts based on judgment and opinion do not include which of the following?

What is the demand pattern that can be used to describe the drop in demand for consumer products that coincides with economic recession periods?

What is the bullwhip effect in supply chains?

To reduce inventory variability in the supply chain and to better match demand with supply at various stages in the supply chain,which of the following two practices are effective? A)Communication B)Longer lead-times C)Collaboration D)Quantity discounts

In the context of demand management,the loss and replacement of customers is known as ________.

If a pattern appears like cycles or seasonality when a dependent variable is plotted against time,one should use time series analysis instead of regression analysis.

Forecasting techniques such as moving averages and exponential smoothing represent smoothed (averaged)values of the historical time series data.

What is the Mean Absolute Percent Deviation (MAPD)if the sum of the absolute forecast error over 12 periods is 174 and the cumulative demand over the same 12 periods is 1500?

The double exponential smoothing technique requires the use of two smoothing constants.

What is the demand pattern that can be used to describe the demand for NFL merchandise around the Super Bowl every year?

A forecast method is generally said to be accurate when the errors exhibit an identifiable pattern.

Seasonal indices can be used to de-seasonalize demand or incorporate seasonality into a forecast.

A measure of forecasting error that tracks the average percent of error is known as ________.

The exponential smoothing forecasting technique is a form of weighted moving average.

A forecast is an assertion about the future whose outcome is known.

Bias exists when the forecast tends to be greater or less than the actual demand.

At the end of June (and using the historical data up to and including the month of June),a manager develops the following equation to predict monthly sales: Y = 25,000 + 125x.What is the forecast for the month of September using this linear trend line equation?

Introduction to Supply Chain and Operations Management

Supply Chain and Operations Strategy

Product and Process Design and Mapping

Service Design

Customer Relationship Management

Strategic Sourcing

Supplier Management

Inventory Management Fundamentals and Independent Demand

Sales and Operations Planning and Enterprise Resource Planning

Logistics

Project Management

Supply Chain Quality Management

Statistical Process Control

Lean and Six Sigma Management and Leading Change

Filters

Exam 8: Demand Management and Forecasting

The bullwhip effect indicates that the variation in demand will be higher with the retailer as compared to the manufacturer in a supply chain.

Forecasts based on judgment and opinion do not include which of the following?

What is the demand pattern that can be used to describe the drop in demand for consumer products that coincides with economic recession periods?

What is the bullwhip effect in supply chains?

To reduce inventory variability in the supply chain and to better match demand with supply at various stages in the supply chain,which of the following two practices are effective? A)Communication B)Longer lead-times C)Collaboration D)Quantity discounts

In the context of demand management,the loss and replacement of customers is known as ________.

If a pattern appears like cycles or seasonality when a dependent variable is plotted against time,one should use time series analysis instead of regression analysis.

Forecasting techniques such as moving averages and exponential smoothing represent smoothed (averaged)values of the historical time series data.

What is the Mean Absolute Percent Deviation (MAPD)if the sum of the absolute forecast error over 12 periods is 174 and the cumulative demand over the same 12 periods is 1500?

The double exponential smoothing technique requires the use of two smoothing constants.

What is the demand pattern that can be used to describe the demand for NFL merchandise around the Super Bowl every year?

A forecast method is generally said to be accurate when the errors exhibit an identifiable pattern.

Seasonal indices can be used to de-seasonalize demand or incorporate seasonality into a forecast.

A measure of forecasting error that tracks the average percent of error is known as ________.

The exponential smoothing forecasting technique is a form of weighted moving average.

A forecast is an assertion about the future whose outcome is known.

Bias exists when the forecast tends to be greater or less than the actual demand.

At the end of June (and using the historical data up to and including the month of June),a manager develops the following equation to predict monthly sales: Y = 25,000 + 125x.What is the forecast for the month of September using this linear trend line equation?

Introduction to Supply Chain and Operations Management

Supply Chain and Operations Strategy

Product and Process Design and Mapping

Service Design

Customer Relationship Management

Strategic Sourcing

Supplier Management

Inventory Management Fundamentals and Independent Demand

Sales and Operations Planning and Enterprise Resource Planning

Logistics

Project Management

Supply Chain Quality Management

Statistical Process Control

Lean and Six Sigma Management and Leading Change

Filters