Smart Book Assignment Ch. 5

What does forecast accuracy improvement require besides error measurement?

Analysis

Which of the following is not a forecast component?

Audit

What does supply chain visibility require for management to highlight the need regarding the flow to minimize or prevent potential problems?

Change

What will the S&OP process, which includes information sharing and accountability, systematically develop?

Consistent plan

What is collaborative planning forecasting and replenishments' function in the planning and process between supply chain partners for demand fulfillment activities?

Coordinates

Which module develops the requirements projections for the planning horizon?

Demand management

Which of the following does not involve logistics planning integration for a common decision support system, that seeks to minimize overall freight expenses?

Facility maintenance

Techniques can easily connect historical patterns into future forecasts, and they are best at incorporating the input of anticipated future events.

False

True or false: One benefit of production freezes is that they increase flexibility and responsiveness.

False

Which markets demand that supply chain planning focus on reducing the supply chain asset requirements?

Financial

Which of the following does inventory deployment represent as part of a major enterprise integrator?

Financial goals

What are projections of monthly, weekly, or daily demand that determine production and inventory requirements?

Forecasts

What type of management will focus on the resource utilization within its scope of responsibility to minimize resources consumed by a typical firm?

Functional

Which of the following does supply chain design not consider in regards to demand?

Higher charges

What is forecasting identifying and scheduling within supply chain activities?

Inventory

Which of the following is not a response to the broad benefits that accrue from planning and system utilization?

Planning

What is used to satisfy the necessary requirements at the minimum total production cost, while not violating any constraints?

Production planning

Which of the following does APS not include in its network?

Stakeholders

In which environment are demand planning, production planning, and logistics planning more common?

Supply chain

What type of information system is in conjunction with the supply chain planning system in seeking to integrate information and coordinate overall logistics and supply chain decisions, while recognizing the dynamics between other firm functions and processes?

Supportive

What constraint deems a qualitative method as generally not appropriate for supply chain forecasting in regards to generating detailed SKU forecasts?

Time

After analyzing data, it is implied that past demand patterns will continue into the future.

True

True or false: Effective forecast administration requires that organizational responsibility and procedural guidelines are documented and measured.

True

True or false: Logistics planning and coordination require the best possible estimate of SKU/location demand.

True

True or false: The requirements planning process is intended to develop a common and consistent plan for each time period, location and item.

True

Which of the following are criteria for evaluating the applicability of a technique? Select all that apply:

accuracy, type of data pattern, experience of the forecaster

The trade-offs associated with supply chain decisions consider all of the relative costs of supply chain strategies EXCEPT:

accurate forecasting

APS major components are fundamentally the same: demand management, resource management, resource optimization, and resource ___.

allocation

Casual techniques are commonly used to generate ___ or national sales forecasts.

annual

Demand management develops the forecast that drives ___ supply chain processes.

anticipatory

Managers cite their major considerations to be integrated versus bolt-on application, data integrity, and ___ education.

application

What averages does the moving average forecasting use during a specific period?

audits

The effective use of a technique requires matching the ___ of the situation with the abilities of the technique.

characteristics

Logistics forecasts are necessary to support ___ planning, to drive requirements planning, and to improved resources management.

collaborative

No single activity involved in supply chain management requires cross-organizational ___ and shared ownership more than successful S&OP.

commitment

The technique component is the mathematical or statistical ___ used to combine base, seasonal, and cyclical components with elements of promotion history into a forecast quantity.

computation

Production planning uses the statement of requirements obtained from demand management in conjunction with manufacturing resources and ___ to develop a workable manufacturing plan.

constraints

Collaborative planning, forecasting, and replenishment is a process initiated by the ___ products industry to achieve such coordination.

consumer

Demand planning responsiveness, customer relationship collaboration, order fullfillment/service delivery, manufacturing customization, supplier relationship collaboration, life cycle support, and reverse logistics must be ___ to satisfy customers and effectively deploy resources.

coordinated

Exponential smoothing bases the estimate of future sales on the weighted average of the previous ___ and forecast levels.

demand

Forecast accuracy refers to the ___ between forecasts and corresponding actual sales.

difference

Capacity constraints consider all of the following aggregate limitations EXCEPT:

employee turnover

Supply chain applications are ___ to consider a broader range of activities and resources within the scope of supply chain planning.

evolving

The forecast is generally a monthly or weekly ___ for each stock keeping unit and distribution location.

figure

A collaborative ___ provides a common goal that can be the basis for effective operating plans.

forecast

It is very important that an effective forecasting process include a support system to facilitate the maintenance, update, and manipulation of the ___ database and the forecast.

historical

Inventory deployment activity can be completed ___ by ___ supply chain functions, in an integrated manner by supply chain overall, or in a coordinated manner by the entire firm.

independently, individual

Integrated business planning is designed to include greater financial integration, increased inclusion of strategic ___ and activities, improved simulation and modeling of alternatives, and easier translation between aggregate and detailed levels of planning.

initiatives

Forecast management process should incorporate ___ from multiple sources, appropriate mathematical and statistical techniques, decision support capability, and trained and motivated individuals.

input

IBP stands for _____ business planning.

integrated

The forecast support system includes the supply chain ___ to gather and analyze data, develop the forecast, and communicate the forecast to relevant personnel and planning systems.

intelligence

Logistics and supply chain management decisions influence many enterprise resources, including production, distribution facilities, inventory and equipment, transportation equipment, and ___.

inventories

Qualitative techniques are ideal for situations where little historical data and much ___ judgment are required.

managerial

Forecast administration includes the ___, procedural, motivational, and personnel aspect of forecasting and its integration into the other firm functions.

organizational

Logistics planning coordinates transportation, warehousing, and inventory within the firm and between supply chain ___.

partners

S&OP is a ___ that coordinates demand and supply plans across the organization.

process

Resource management can be used to manage critical supply chain processes such as ___, inventory, and transportation.

production

The requirements planning process determines inventory projections and resulting ___ or production requirements for the planning horizon.

replenishment

The S&OP process collaboratively establishes a coordinated plan for responding to customer ___ within the resource constraints of the enterprise.

requirements

APS is a network that reflects the ___ status and allocation at a point in time.

resource

The objective of an integrated supply chain planning capability is coordinated capacity management of relevant logistics and supply chain ___ including manufacturing plants, distribution centers, and transportation resources.

resources

If planning system visibility highlights resource status and availability, the ___ planning system requirement is the need to simultaneously consider supply chain demand, capacity, material requirements, and constraints.

second

Without a collaborative plan, the supplier-customer combination typically results in either inventory excess or ___.

shortage

The forecast is the specific definition of what is projected to be ___, when, and where.

sold

Time series techniques are ___ methods utilized when historical sales data containing relatively clear and stable relationships and trends are available.

statistical

Forecasting software offers a wide range of capabilities in terms of both ___ and ___.

techniques, sophistication

Logistics forecasts are necessary for all of the following reasons EXCEPT:

to predict market trends

The first driver of planning system development is the need for ___ regarding location and status of supply chain inventory and resources.

visibility