Question 1

Which of the following can be used to monitor a forecast to see if it is biased high or low?

Accepted Answer

A)  a tracking signal 
B)  the mean absolute deviation (MA
D)  
C)  the mean absolute percentage deviation (MAP
D)  
D)  a linear trend line model 
A)  a tracking signal 
B)  the mean absolute deviation (MA
D)  
C)  the mean absolute percentage deviation (MAP
D)  
D)  a linear trend line model

Question 2

Because of globalization of markets, managers are finding it increasingly more difficult to create accurate demand forecasts.

Accepted Answer

A) True 
 B)False

Question 3

Movements in demand that do not follow a given pattern are referred to as random variations.

Accepted Answer

A) True 
 B)False

Question 4

A long-range forecast would normally not be used to

Accepted Answer

A)  design the supply chain. 
B)  implement strategic programs. 
C)  determine production schedules. 
D)  plan new products for changing markets. 
A)  design the supply chain. 
B)  implement strategic programs. 
C)  determine production schedules. 
D)  plan new products for changing markets.

Question 5

Continuous replenishment systems rely heavily on extremely accurate long-term forecasts.

Accepted Answer

A) True 
 B)False

Question 6

Sharing demand forecasts with supply chain members has resulted in an increased bullwhip effect.

Accepted Answer

A) True 
 B)False

Question 7

Qualitative forecasts use mathematical techniques and statistical formulas.

Accepted Answer

A) True 
 B)False

Question 8

A forecasting model has produced the following forecasts:   The mean absolute deviation (MAD) for the end of May is

Accepted Answer

A)  7.0. 
B)  7.5. 
C)  10.0. 
D)  3.0 
A)  7.0. 
B)  7.5. 
C)  10.0. 
D)  3.0

Question 9

Data mining

Accepted Answer

A)  discovers trends, predicts future events, and assesses possible course of action. 
B)  searches for exact relationships between variables. 
C)  identifies groups of data that fall naturally together. 
D)  None of these answer choices is correct. 
A)  discovers trends, predicts future events, and assesses possible course of action. 
B)  searches for exact relationships between variables. 
C)  identifies groups of data that fall naturally together. 
D)  None of these answer choices is correct.

Question 10

A seasonal pattern is an oscillating movement in demand that occurs periodically over the short-run and is repetitive.

Accepted Answer

A) True 
 B)False

Question 11

Given the following demand data for the past five months, the three-period moving average forecast for June is

Accepted Answer

A)  103.33. 
B)  99.00. 
C)  95.00. 
D)  92.50 
A)  103.33. 
B)  99.00. 
C)  95.00. 
D)  92.50

Question 12

The long-term strategic planning process is dependent upon qualitative forecasting methods.

Accepted Answer

A) True 
 B)False

Question 13

A mathematical technique for forecasting that relates the dependent variable to an independent variable is

Accepted Answer

A)  correlation analysis. 
B)  exponential smoothing. 
C)  linear regression. 
D)  weighted moving average. 
A)  correlation analysis. 
B)  exponential smoothing. 
C)  linear regression. 
D)  weighted moving average.

Question 14

Compare and contrast short-mid-range forecasts and long-range forecasts.

Accepted Answer

Forecasts are either short-to mid-range

Question 15

If forecast errors are normally distributed then

Accepted Answer

A)  1 MAD = 1σ 
B)  1 MAD ≈ 0.8 σ 
C)  0.8 MAD ≈ 1σ 
D)  1 MAD ≈ 1.96 σ 
A)  1 MAD = 1σ 
B)  1 MAD ≈ 0.8 σ 
C)  0.8 MAD ≈ 1σ 
D)  1 MAD ≈ 1.96 σ

Question 16

Because of the development of advanced forecasting models managers no longer track forecast error.

Accepted Answer

A) True 
 B)False

Question 17

In today's competitive environment, effective supply chain management requires absolute demand forecasts.

Accepted Answer

A) True 
 B)False

Question 18

_______________ can be subdivided into ________________ that store subsets of data.

Accepted Answer

A)  Databases, data warehouses 
B)  Data warehouses, data marts 
C)  Databases, data marts 
D)  Data warehouses, databases 
A)  Databases, data warehouses 
B)  Data warehouses, data marts 
C)  Databases, data marts 
D)  Data warehouses, databases

Question 19

Given the following demand data for the past five months, the four-period moving average forecast for June is

Accepted Answer

A)  96.25. 
B)  99.00. 
C)  110.00. 
D)  93.75. 
A)  96.25. 
B)  99.00. 
C)  110.00. 
D)  93.75.

Question 20

The weighted moving average forecast for the fifth period, with weights of 0.15 for period 1, 0.20 for period 2, 0.25 for period 3, and 0.40 for period 4, using the demand data shown below is

Accepted Answer

A)  3,760. 
B)  3,700. 
C)  3,650. 
D)  3,325. 
A)  3,760. 
B)  3,700. 
C)  3,650. 
D)  3,325.

Exam 21: Operational Decison-Making Tools: Transportation and Transshipment Models

Which of the following can be used to monitor a forecast to see if it is biased high or low?

Because of globalization of markets, managers are finding it increasingly more difficult to create accurate demand forecasts.

Movements in demand that do not follow a given pattern are referred to as random variations.

A long-range forecast would normally not be used to

Continuous replenishment systems rely heavily on extremely accurate long-term forecasts.

Sharing demand forecasts with supply chain members has resulted in an increased bullwhip effect.

Qualitative forecasts use mathematical techniques and statistical formulas.

A forecasting model has produced the following forecasts: The mean absolute deviation (MAD) for the end of May is

Data mining

A seasonal pattern is an oscillating movement in demand that occurs periodically over the short-run and is repetitive.

Given the following demand data for the past five months, the three-period moving average forecast for June is

The long-term strategic planning process is dependent upon qualitative forecasting methods.

A mathematical technique for forecasting that relates the dependent variable to an independent variable is

Compare and contrast short-mid-range forecasts and long-range forecasts.

If forecast errors are normally distributed then

Because of the development of advanced forecasting models managers no longer track forecast error.

In today's competitive environment, effective supply chain management requires absolute demand forecasts.

_______________ can be subdivided into ________________ that store subsets of data.

Given the following demand data for the past five months, the four-period moving average forecast for June is

The weighted moving average forecast for the fifth period, with weights of 0.15 for period 1, 0.20 for period 2, 0.25 for period 3, and 0.40 for period 4, using the demand data shown below is

Introduction to Operations and Supply Chain Management

Quality Management

Statistical Process Control

Product Design

Service Design

Processes and Technology

Capacity and Facilities Design

Human Resources

Project Management

Supply Chain Management Strategy and Design

Global Supply Chain Procurement and Distribution

Forecasting

Inventory Management

Sales and Operations Planning

Resource Planning

Lean Systems

Operational Decision-Making Tools: Decision Analysis

Operational Decision-Making Tools: Acceptance Sampling

Operational Decision-Making Tools: Facility Location Models

Operational Decision-Making Tools: Work Measurement

Operational Decision-Making Tools: Simulation

Operational Decision-Making Tools: Linear Programming

Filters

_ can be subdivided into __ that store subsets of data.