OMIS 320 CH 5 & 6

A.) Making organizational and procedural changes B.) Trust between supply chain partners C.) Cost D.) Supplier lead times Answer: D

According to textbook, the top three challenges for CPFR implementation include all of the following except:

A.) Holding high amounts of inventory B.) Maintaining a rigid pricing system C.) Utilizing overtime D.) Hiring temporary workers Answer: B

According to the textbook, which of the following is NOT a way to closely match supply and demand?

A.) Purchasing Managers Index B.) Export Order Index C.) Producation and Inventory Index D.) New Orders Index Answer: A

Which of the following indices provided by the Institute for Supply Management (ISM) is considered the most important by economists because it is a composite of five weighted, seasonally adjusted indices?

A.) Actual value is higher than forecast B.) Actual value is less than forecast C.) Actual value is equal to forecast D.) Unable to draw any conclusion Answer: A

If a tracking signal is positive, which one of the following is true?

A.) Level 0 B.) Level 1 C.) Level 2 D.) Level 3 Answer: A

In a bill of materials, items at which level are independent demand items?

A.) Stockouts and poor responsiveness to market dynamics B.) High inventory costs of inventory and increased profits C.) Material shortages and decreased costs of obsolescence D.) Low inventory costs of inventory and stockouts Answer: A

Inaccurate forecasts can result in negative outcomes like:

A.) Regression analysis B.) Linear Trend Forecast C.) Moving Average Forecast D.) Mean Absolute Deviation Answer: A

One common Cause-and-Effect Model used is:

A.) Aggregate Production Plan B.) Master Capacity Plan C.) Materials Requirments Plan D.) Capacity Requirements Plan Answer: A

Which of the following is a Long Range Materials Plan:

A.) Sales force composite B.) Consumer survey C.) Jury of executive opinion D.) Naiive method Answer: D

Which one of the following is not a type of qualitative forecasting?

A.) Capacity Production Strategy B.) Chase Production Strategy C.) Level Production Strategy D.) Backing Production Strategy Answer: B

Which of the following basic production strategies used for addressing the aggregate planning problem would work best with make-to-order manufacturing firms?

A.) Resources B.) Demand C.) Workload D.) Supply Answer: B

The goal of resource planning is to minimize the discrepancy between capacity and:

A.) Gross requirement B.) Component C.) Net requirement D.) Scheduled receipt Answer: B

Which of the following MRP terms represents the parts demanded by a parent?

A.) Resource tree B.) Product family C.) Dependant allocation D.) Implosion factor Answer: B

Which of the following consists of different products that share similar characteristics, components or manufacturing processes?

A.) Master Production Schedule B.) Bill of Materials C.) Distribution Requirement Plan D.) Resource Requirment Plan Answer: B

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?

A.) RRP B.) MPS C.) RCCP D.) MRP Answer: D

Which of the following seeks to develop short range plans seeking to effectively and efficiently manage components and/or subassemblies over time period of few days to a few weeks?

A.) Projected on hand inventory B.) Time bucket C.) Net Requirments D.) Scheduled receipt Answer: D

Which of the following MRP terms represents a committed order awaiting delivery for a specific period?

A.) Coordinated planning and forecasting relationships B.) Collaborative planning, forecasting, and replenishment C.) Centralized purchasing and forecasting relationship D.) Collaborative purchasing, forecasting and receivables Answer: B

What does the acronym CPFR represent?

A.) 0 B.) 0.5 C.) 1 D.) Insufficient information provided to determine answer Answer: C

The exponential smoothing forecast has the same value as the naïve forecast when α in the exponential smoothing model is equal to:

A.) Jury of executive opinion B.) Trend Variation C.) Delphi method D.) Sales force composite Answer: B

The following are all common qualitative forecasting models EXCEPT:

A.) Naiive Forecast B.) Weighted Moving Average C.) Simple Moving Average D.) Exponential Smoothing Answer: C

The following time-series approach to forecasting uses historical data to generate a forecast and works well when demand is fairly stable over time:

A.) Bullwhip effect B.) Delphi method C.) CPHR effect D.) Mean Deviation Answer: A

The impact of poor communication and inaccurate forecasts resonates along the supply chain and results in the:

A.) Rough-Cut Capacity Plan B.) Material Requirment Plan C.) Capacity Requirement Plan D.) Distribution Requirment Plan Answer: A

To check the feasibility of the Master Production Schedule, one would look to:

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 forecast's time horizon increases D.) It is generally not recommended to use a combination of both quantitative and qualitative methods Answer: D

Which of the following statements is FALSE:

A.) Trend Variation B.) Cyclical Variations C.) Seasonal Variations D.) Random Variations Answer: B

You company is conducting forecasting that revolves around the current recession and expansion of the U.S. economy. This type of forecasting can be referred to as what component of a time series?