SCSM-450 (Possible & FinalQ)

14.(FinalQ) When is the N-Period Moving Average used and what does it provide?

- If there's little or no trend and seasonality - Provides overall impression of data over time.

14.(Possible FinalQ) What are the Characteristics of Regression: 1. Data Required 2. Relative Cost 3. Forecast Horizon 4. Application

1. Data Required: All past data for all variables 2. Relative Cost: Moderate 3. Forecast Horizon: Medium term 4. Application: Demand forecasting

14.(Possible FinalQ) What are the Characteristics of Econometric: 1. Data Required 2. Relative Cost 3. Forecast Horizon 4. Application

1. Data Required: All past data for all variables 2. Relative Cost: Moderate to high 3. Forecast Horizon: Medium to long term 4. Application: Economic conditions

14.(Possible FinalQ) What are the Characteristics of Cross-impact analysis: 1. Data Required 2. Relative Cost 3. Forecast Horizon 4. Application

1. Data Required: Correlations between events 2. Relative Cost: High 3. Forecast Horizon: Long term 4. Application: Technological forecasting

14.(Possible FinalQ) What are the Characteristics of Moving average: 1. Data Required 2. Relative Cost 3. Forecast Horizon 4. Application

1. Data Required: N most recent observations 2. Relative Cost: Very low 3. Forecast Horizon: Short term 4. Application: Demand forecasting

14.(Possible FinalQ) What are the Characteristics of Exponential smoothing: 1. Data Required 2. Relative Cost 3. Forecast Horizon 4. Application

1. Data Required: Previous smoothed value and most recent observation 2. Relative Cost: Very low 3. Forecast Horizon: Short term 4. Application: Demand forecasting

14.(Possible FinalQ) What are the Characteristics of Historical analogy: 1. Data Required 2. Relative Cost 3. Forecast Horizon 4. Application

1. Data Required: Several years of data for a similar situation 2. Relative Cost: High 3. Forecast Horizon: Medium to long term 4. Application: Life cycle demand projection

14.(Possible FinalQ) What are the Characteristics of Delphi method: 1. Data Required 2. Relative Cost 3. Forecast Horizon 4. Application

1. Data Required: Survey results 2. Relative Cost: High 3. Forecast Horizon: Long term 4. Application: Technological forecasting

14.(FinalQ) What are the 3 folds that Smoothing Exponential Smoothing power over the N-period Moving Average with?

1. Old data are never dropped or lost, 2. Older data are given progressively less weight, and 3. The calculation is simple and requires only the most recent data.

14.(FinalQ) What are the 3 Forecasting Time Horizons

1. Short-range Forecasting (less than 3 Months and Up to 1 Y) 2. Mid-range Forecasting (3 Months to 3 Years). 3. Long-range Forecasting (3 years and over). In this Forecasting, big decisions are involved in High Level of Management such as Entering new Market, Expanding company market, Producing new Product/Service.

11.(Possible FinalQ) What are the uses of Reservation Systems and Overbooking.

1. Taking reservations presells the potential service. 2. Reservations benefit consumers by reducing waiting and guaranteeing service availability. 3. Overbooking is a strategy to decrease the negative impact of no-shows. 4. A good overbooking strategy should minimize the expected opportunity cost of idle service capacity and the expected cost of turning away reservations.

12.(Possible FinalQ) What contributes to the Service Performance?

1. The distribution of service times, 2. arrangement of servers, 3. management policies, and 4. Server behavior.

14.(FinalQ) What are the 4 components of each time series?

1. Trend 2. Seasonal 3. Cyclical 4. Random

11.(FinalQ) What is Yield Management and What is it used for?

A variable pricing strategy, based on understanding, anticipating and influencing consumer behavior in order to maximize revenue or profits from a fixed, time-limited resource. Ex: Airline seats, hotel room reservations or advertising inventory.

11.(FinalQ) Define Chase Demand.

Adjusting capacity to match demandfluctuations (Ex. Call centers)

11.(Possible FinalQ) What are the five sources of customer induced Variability in service operations?

Arrival, Capacity, Request, Effort, and Subjective Preference.

11.(Possible FinalQ) What is meant by Arrival?

Customer arrivals are independent decisions not evenly spaced.

14.(Possible FinalQ) Which methods are included in Subjective Modeling?

Delphi Method, Cross-impact analysis, and Historical analogy.

12.(Possible FinalQ) What is the most popular service discipline?

First Come First Serve (FCFS) rule.

11.(FinalQ) Define Level Capacity.

Holding capacity fixed allowing forunderutilization and some customer waiting (Ex. Utilities)

12.(Possible FinalQ) What is the Queue Discipline?

Is a policy established by management to select the next customer from the queue for service.

12.(Possible FinalQ) How is single queue arrangement is more efficient?

It is more efficient in terms of reducing the average time that customers spend waiting in line.

12.(Possible FinalQ) What does Queue Configuration refers to?

It refers to the number of queues, their locations, and their effects on customer behavior.

14.(FinalQ) What does Simple Exponential Smoothing smooths?

It smooths out blips (unexpected, minor deviation) in the data, but it powers over the N-period moving average in threefold

11.(FinalQ) There are two generic strategies for capacity management

Level Capacity and Chase Demand

11.(Possible FinalQ) What is meant by Effort?

Level of commitment to coproduction or self-service varies.

11.(Possible FinalQ) What is meant by Capacity?

Level of knowledge and skills vary resulting insome hand-holding

14.(FinalQ) Distinguish the differences between Medium/Long Range Forecasting and Short Range Forecasting.

Medium/Long Range Forecasting deal with more comprehensive issues and support management decisions regarding planning products, plants, and processes. Short-range Forecasting usually employs different methodologies than long-range forecasting. Short-range Forecasting tend to be more accurate than longer-range Forecasting,

11.(Possible FinalQ) What is meant by Subjective Preference?

Personal preferences introduce unpredictability

11.(Possible FinalQ) What is the use of Segmenting Demand?

To reduce variation (ex. Airlines differentiate between weekday business travelers and weekend pleasure travelers).

11.(Possible FinalQ) What is meant by Request?

Uneven service times result from unique demands.

13.(Possible FinalQ) Inability to control demand results in

capacity measured in terms of inputs (e.g. number of hotel rooms rather than guest nights).

13.(Possible FinalQ) Define Capacity Planning

is the process of determining the types and amounts of resources that are required to implement an organization's strategic business plan.

14.(FinalQ) What is Simple Exponential Smoothing?

is the time series method most frequently used for demand forecasting.

13.(Possible FinalQ) What is the objective of Strategic Capacity Planning

is to determine the appropriate level of service capacity by specifying the proper mix of facilities, equipment, and labor that is required to meet anticipated demand