Question 1

Moving averages cannot predict a trend,they are only used for seasonal variation.

Accepted Answer

A) True 
 B)False

Question 2

What is an outlier as it relates to simple regression?

Accepted Answer

The answer of What is an outlier as it relates...

Question 3

Typically,organizations evolve through a number of stages as they gain experience with analytics and become more sophisticated in applying it toward the goal of developing a world class supply chain.Which of the following is not one of those stages?

Accepted Answer

A) Depend on suppliers for their data 
B) Summarize and report data to decision makers 
C) Develop the capability to analyze real-time data 
D) Seek to predict what will happen in the future 
E) All of the above are stages

Question 4

Seasonal factors are always less than or equal to one.

Accepted Answer

A) True 
 B)False

Question 5

Examples of the types of problems that arise as a result of poor supply chain planning and execution include which of the following?

Accepted Answer

A) Customer dissatisfaction because their orders are received late 
B) Increased costs when supplies need to be expedited 
C) Strained relationships with suppliers 
D) Incurring the wrath of the finance department 
E) All of the above are problems

Question 6

Which of the following is not a method for assessing the accuracy of forecasting models?

Accepted Answer

A) Error 
B) Bias 
C) MAD 
D) MAPE

Question 7

Most firms do not use just one of the pure aggregate planning strategies.

Accepted Answer

A) True 
 B)False

Question 8

What are the seasonal fluctuations of a time series?

Accepted Answer

The answer of What are the seasonal fluctuations of a...

Question 9

What is the trend component of a time series?

Accepted Answer

The answer of What is the trend component of a...

Question 10

Describe the relationship between alpha and the variability of demand when forecasting using exponential smoothing.

Accepted Answer

The answer of Describe the relationship between alpha and the...

Question 11

Why might a company use the Delphi method of qualitative forecasting rather than say expert opinion?

Accepted Answer

The answer of Why might a company use the Delphi...

Question 12

In aggregate planning,when the same amount of output is produced each period,it is called what?

Accepted Answer

A) Flat production 
B) Constant production 
C) Level production 
D) Chase production 
E) None of the above

Question 13

Briefly describe the three stages of CPFR.

Accepted Answer

The answer of Briefly describe the three stages of CPFR....

Question 14

The forecast tells an organization how much to produce.

Accepted Answer

A) True 
 B)False

Question 15

Describe the factors that influence the choice of a demand forecasting method.

Accepted Answer

The answer of Describe the factors that influence the choice...

Question 16

Why do companies not just produce the quantity of demand specified by the forecast?

Accepted Answer

The answer of Why do companies not just produce the...

Question 17

There are how many pure aggregate planning strategies?

Accepted Answer

A) One 
B) Two 
C) Three 
D) More than three 
E) It depends on the organization

Question 18

Our objective in exponential forecasting is to choose the value of alpha that results in the best forecasts.

Accepted Answer

A) True 
 B)False

Question 19

What are the random variations component of a time series?

Accepted Answer

The answer of What are the random variations component of...

Question 20

Like all business activities,the process of demand planning in general and forecasting in particular can be improved.

Accepted Answer

A) True 
 B)False

Exam 5: Supply Chain Planning and Analytics

Moving averages cannot predict a trend,they are only used for seasonal variation.

What is an outlier as it relates to simple regression?

Typically,organizations evolve through a number of stages as they gain experience with analytics and become more sophisticated in applying it toward the goal of developing a world class supply chain.Which of the following is not one of those stages?

Seasonal factors are always less than or equal to one.

Examples of the types of problems that arise as a result of poor supply chain planning and execution include which of the following?

Which of the following is not a method for assessing the accuracy of forecasting models?

Most firms do not use just one of the pure aggregate planning strategies.

What are the seasonal fluctuations of a time series?

What is the trend component of a time series?

Describe the relationship between alpha and the variability of demand when forecasting using exponential smoothing.

Why might a company use the Delphi method of qualitative forecasting rather than say expert opinion?

In aggregate planning,when the same amount of output is produced each period,it is called what?

Briefly describe the three stages of CPFR.

The forecast tells an organization how much to produce.

Describe the factors that influence the choice of a demand forecasting method.

Why do companies not just produce the quantity of demand specified by the forecast?

There are how many pure aggregate planning strategies?

Our objective in exponential forecasting is to choose the value of alpha that results in the best forecasts.

What are the random variations component of a time series?

Like all business activities,the process of demand planning in general and forecasting in particular can be improved.