QUIZ 1 Covers Material in Module 1: Supply Chain Management; Module 2: Demand Planning and Module 3: Resource Planning

We can adjust the SUPPLY (or CAPACITY) side of the AGGREGATE PLAN by _______

(A), (B), (C) hiring more employees. laying off employees. sub contracting some manufacturing activities.

Along a supply chain, which of the following would be considered a THIRD PARTY service provider?

A firm that povides transportation services.

Employing the aggregate planning strategy known as LEVEL PLANNING requires (or results in) _____________

All of the above. customers are willing to accept back orders. management not having to impose layoffs. management accepts holding items in inventory. the workforce level is stable.

Which production strategy requires the closest collaboration between the manufacturer and the customer?

Engineer to order

Quantitative demand forecasting models use mathematical techniques that are based on:

Historical data

Which planning strategy uses overtime and subcontracting to cope with the high demand periods ?

The Chase Production Strategy

Which strategy allows finished goods inventories to build up and relies on backorders to handle excess demand?

The Level Production Strategy

TRUE or FALSE: The goal of a good forecasting technique is to minimize the deviation (or gap) between actual demand and forecasted demand.

True

TRUE or FALSE? Trucking companies, airfreight shipping companies, and information system providers can all be considered service providers and partners along the supply chain.

True

INTERNAL DEMAND DRIVERS include the following, EXCEPT ______________

a new competitor entering your market.

Supply chain management includes the planning and management of all activities involved in sourcing and procurement, conversion of raw materials into finished products or services, and all logistics management activities. It also includes:

coordination and collaboration with supply chain partners.

One of the key downsides (for the manufacturer) in using the CHASE AGGREGATE PLANNING strategy is _____________

employee discontent.

The MASTER PRODUCTION SCHEDULE (MPS) tells us the ________

forecasted independent demand items for a given period.

Based on our readings and discussion, one of the greatest challenges facing supply chain managers today is ____________

getting partners to communicate and to work together.

The greatest, negative risk from inaccurate forecasts is _____

imbalances in supply and demand

The PRODUCTION STRATEGY frequently used in the retail industry is called __________

make to stock.

The primary goal of the AGGREGATE PLAN in production planning and scheduling is to _________________

match production capacity (supply) and customer demand.

We identified the DEMAND FORECASTING MODEL that uses mathematical formulas and historical data as a _____________

quantitative forecasting model.

SUB CONTRACTING manufacturing activities (having another company take this on) is one way a manufacturer can adjust the ____________ side of the aggregate plan.

supply

According to the text, the FOUR basic elements of the supply chain are:

supply, operations, logistics, integration

In a manufacturing environment, to determine the material, component, and parts requirements of a finished product, we can look at the lowest level of our planning hierarchy which is the ________________

the Bill of Material (BOM).

An example of a QUALITATIVE FORECASTING MODEL that we identified is ________________

the Delphi Method.

The idea that reducing supply chain costs approximately 5% can increase revenue as much as increasing sales 25% is known as __________

the Supply Chain's Leveraging Effect.

In supply chain management, a key purpose of a DEMAND FORECAST is _____________

to provide the information needed to ensure you have or will have enough product or service available to satisfy upcoming sales.

A benefit (to the manufacturer) of the Aggregate Planning strategy known as "LEVEL PLANNING" is that it _________

uses a constant workforce.