FM325 Final Exam Study set 2

measure

A ____ is one of the quantifiable items or key indicators of you business. They are represented in EP by the combination of one member of the variable sub-dimension and one member of the version sub-dimension.

Pane

A _____ is a division of a view or maintenance window into separate sections that contain different typesof information. They can be resized to give more space to a section.

rule

A _____ is a formula that defines how E.P. calculates measures. You can define them for both variables and versions.

Cell

A _____ is a unit in a spreadsheet used to store or display data.

Permanent Markdown

A ______is a fixed reduction in the retail value of the inventory. Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

Dimension

A ___is an entity that provides part of the information about each cell in a module. Each module contains time, measures and one or more structural units which together identify each item of data.

A spreadsheet or chart view to be used with it

A calculation sequence view requires:

A spreadsheet or chart view to be used with it.

A calculation sequence view requires:

A view saved without a plan or module information so anyone can use it

A corporate view is:

True

A module is a combination of the dimensions. True or False

True

A rule set is a rule plus all its inverses. True or False

Module

A___is the entity formed from the combination of s measure dimension, a time dimension and one or more structural dimensions in a plan. It contains data for the cells defined by the combination of members of all dimensions.

A buyer would leave dollars open if sales are down to plan. A buyer would choose to spend every dime if sales are trending up to plan and inventory is down.

According to EP, do buyers spend every dime or do they leave dollars open? Why would a buyer choose to do one or the other?

True

According to EP, in season planning is typically done weekly based on actual sales, but updates to the RP are done monthly. True or False

Monthly OTB - Planned receipts - On order Cumulative OTB

According to EP, most retailers use more than one calculation to determine OTB. What are the 2 forms of OTB calculations and how are they calculated?

Plan are created based on history and forecasting, merchandise is ordered from vendors, merchandise is allocated, merchandise is sold, sales data is recorded

According to general business practices, the steps of the business process follow this order:

False

Activating an attribute as an alternate dimension makes the size of the module more manageable. True or False

Calculate and save your changes

After entering data, to incorporate those changes into your plans, you must:

paf

Automation files in EP have the extension:

True

Best practice organizations complete the advertising schedule prior to completing the product plans. True or False

Plan sales Plan inventory Plan receipts

Common approaches to developing a pre-season plan may include:

Plan sales Plan inventory Plan receipts Plan markdowns

Common approaches to developing a pre-season plan may include:

False

Common practice is to create pre-season plans after the orders have been placed. True or False

Percent participation

Creating a new column to show each class's penetration to its parent department is an example of:

Hierachial - sorts members in descending order with each parent number followed by its children; top-down - displays all members of a group, followed by all members of the next group; alphabetical - sorts members in alphabetical order; manual sort - can use any sort order to begin with and then make changes;

Describe the following sort options: HIERARCHIAL ORDER, TOP-DOWN ORDER, ALPHABETICAL ORDER AND MANUAL SORT. Be specific.

True

During the season setup, the two common methods that are used to seed plans are Last Year and demand forecast. True or False

Initial/ Maintained

Highly effective organizations realize that the ______mark-up should be higher than______mark-up in order to achieve their strategic goals. Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

View is a window that contains a selection of data from a module, e.g. a spreadsheet, and a PLAN shows business activity over a period of time. it is made up of a name, structure, dimensions, modules and views

How does a VIEW differ from a PLAN?

WP/LY - Version; TotMD_rtl - Variable; Sls_cost - Variable; RP - Version; Sls_Units - Variable; LY-Version; EOPRtl - Variable; BOPRtl - Variable

Identify each of the following as either a version or a variable. WP/LY, TotMD_rtl, Sls_cost, RP, Sls_Units, LY, EOPRtl, BOPRtl

500,000

If you enter '100K * 5' into the edit bar for a data cell, what number will result?

Denim>Casual>Skirts

Illustrate a PRODUCT DIMENSION . Use the forward arrow button > Ex: Mon>Tues>Wed.

plan name,dimensions, modules and views

In Enterprise planning a plan consists of:

Bring existing plans in line with your current sales.

In season planning allows you to:

Revised plan

In season,once agreement is reached on the changes to be made to the plan, the plans can be approved as the _____________

False

It is not important when planning key items to have a company-wide strategy for determining key items. True or False

Class

List one of the two alternate hierarchies that can be found in a product dimension.

Ture

Locking cells keeps their values from changing when recalculating data. True or False

True

Marketing events are important to consider when planning inventory. True or False

Planning Sales Planning Inventory Planning Margin Reviewing Plan APPROVING pLAN

Once the Strategic Vision has been communicated, pre-season plans can be developed. Please identify the 5 major pre-season planning steps.

Ok- to apply changes and close out of the view configuration; Cancel - to cancel changes and close out of the view configuration; Apply - to apply changes and keep the dialog box open

Once you've completed your changes in the VIEW CONFIGURATOR, you need to save and close out.Briefly describe the differences between OK, CANCEL AND APPLY.

False

Only an administrator can make changes to your Favorites Pane.

False

Only an administrator can make changes to your Favorites Pane. True or False

True

Open to Buy is the key to in season planning. True or False

cpd

Plan files in EP have the extension:

True

Planning is predicting the future in order to prepare an organization for what lies ahead. True or False

True

Plans may have a number of versions (WP,OP,RP,TY,LY,WP/LY) which reflect a different stage through the lifecycle of the plan. True or False

True

Product plans allow you to plan for specific merchandise items that are key to a company's success. True or False

damages

Shrink may include theft and _______. Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

True

Spreading deals with values entered higher in the hierarchy, while Consolidation deals with values entered lowerIn the hierarchy. True or False

True

Strategic plans define the overall goal of the company for the next few years. True or False

Normal, Average, Non-spread, Opening and Closing

The five types of variable characteristics are:

True

The foundation of the planning process is the merchandise plan. True or False

True

The more closely you monitor your plans, the fewer dollars you will keep tied up in inventory. True

False

The order of a group member in the calendar/time dimension is not important. True or False

Type numbers or calculations into the edit bar Copy and paste Use the fill options Type numbers or calculations into the cell

To enter data into a view, you can:

Planned and Actual Sales, inventory, receipts and markdowns

To properly maintain OTB, what information is needed for each month of the season?

True

Using Open to Buy is the best way to adjust your inventory due to variations between your planned sales and actual sales. True or False

CPV

Views in E.P. have the extension:

False

Views in the favorites folder cannot be shared with others. True or False

True

We know you are able to copy and paste between views, but can you also copy & paste an entire view. True or False

Spreadsheet view - a type of view that displays data as a spreadsheet Chart View - a type of view that displays data as a chart Exception View - A type of view used to set limits for measures and to check for measures that fall outside the limits or contain empty and errored values Calculation view - is used to view the calculation sequence for data changes entered in a plan/module

We've learned and discussed four different types of views. List them and briefly describe each one.

shrinkage due to shopliftng, internal theft, damages or paperwork errors. They are accounted for when planning inventory.

What are arbitrary occurrences and how are they accounted for in planning?

Ways to view data that falls outside specific limits

What are exception views?

Ways to view data that falls outside specific limits.

What are exception views?

1. When planning prior to the planning process the key items are identified prior to the product plans being set and the the key item metrics - sales, receipts, and inventory are planned before and made visible in the product plan so that the product plans can be planned accordingly. 2. When planning key items after the planning process, key items are identified after the product plans have been made therefore the key item plans will have to fall within the financial parameters of the product plan.

What are the differences between planning key items prior to the planning process and after the planning process?

PMD - permanent markdown, decreases the value of the inventory POS - point of sale lowers price for a particular promotion

What is a PMD? What is a POS MD? What are the differences in their margin implications?

A cell note is a line of text that can be added to any cell in a spreadsheet view. It is used in EP as a warning or reminder. It is identified in the cell by a red triangle in the upper right hand corner of the cell. To install one, click on the cell that you want to add a cell note. From the tool bar above click on Edit Cell Note. Write Note and click OK

What is a cell note, how is it used in EP, and how do you install one?

OP

What plan version is usually used as the saved pre-season version of the plan?

Working Plan

What plan version is usually used for "WHAT IF" planning scenarios?

Lift

When planning a POS markdown it is critical to determine the promotional ______ Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

Vendor lead times In-transit to the store Markdown plan by month Amount of time to complete the floor set

When planning receipt flow it is important to allow for:

prior to completing the product plans so they can be incorporated into the receipts and inventory plans

When should the advertising calendar be completed in the product planning process?

Measure

Which is not a structural dimension?

When stock fill-ins are not an option

Why don't all companies adjust their plans in season?

To copy similar sales patterns from another department or class If I am planning new items that have no sales data the same way

Why would a planner want to copy and paste data? Briefly discuss.

A planner would use locking to prevent entry into a cell or recalculation of a cell. A planner would use the freeze option to freeze members that he/she does not want affected in the calculation process

Why would a planner want to use the lock or freeze option? What are the reasons?

The View Configuration Dialogue Box

You activate an attribute as an alternate hierarchy in:

False

You can deactivate an attribute that is displayed in the current view. True or False

Target customer Promotions Competition Market trends

You can identify key item candidates by analyzing:

True

You can plan by attribute such as color or fabric when planning key items in EP. True or False

Click the Go to Cell option under the exceptions Tab. The exception cell will now be visible in context and can be modified.

You cannot enter data into cells in the check exceptions pane. How do you modify a cell once it has been identified in the check exceptions view?

True

You will not see anything in your calculation sequence view until you make a change to your planning data. True or False

1 Pink 2 Yellow 3 white 4 blue 5 green

[1]is the color of locked cells[2]is the color of a changed cell[3] is the color of a cell that has not been changed or touched[4] is the color of a protected cell[5] is the color of a reference cell

Slice Dimension

_____ are dimensions in views for which information is displayed one member at a time, as if it is a page in a book. What you view on screen is one page, that is, the equivalent of a page in a book.

Attribute

_____ is information about a member of a dimension, for example, its description. Although they can be used to sort the members in a view, they cannot be used to provide summary information.

Calculation

______ is a process of deriving values in a module by spreading, evaluation of rules and consolidation.

Non-spread

______ is a type of measure. The value of it is not distributed directly to lower levels of a hierarchy, or consolidated to higher levels.

Protection processing

______ is carried out every time the value of a cell is changed, to determine what the effect on other cells will be.

Locked Cell

______ is marked by the user so its value doesn't change when calculation take place. The default color is pink.

Consolidaiton

______ is the calculation of values for groups above the bottom group in a dimension hierarchy, by totaling or averaging

Comp

_________store sales are the sales generated by stores that have been open more than a year and have historical data. Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

OTB

________is key to In-season planning Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

Gross Margin

_______is sales minus cost of goods sold. Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

MMU

_______is the final mark-up on an item based on the selling price. Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

GMROI

______reflects the movement of inventory relative to profitability. Choose from the below: lift / Comp / permanent markdown / OTB / damages / Gross margin / GMROI / Initial/Maintained / MMU

Group

_____is an aggregate of all members at the same level of detail in a dimension

View

___is a window that contains a selection of data from a module?

True

variables + versions = measures. True or False