Supply Chain Ch 5

According to the textbook, the top three challenges for CPFR implementation include all of the following EXCEPT: a. Supplier lead times b. Making organizational and procedural changes c. Cost d. Trust between supply chain partners

a

The impact of poor communication and inaccurate forecasts resonates along the supply chain and results in the: a. Bullwhip effect b. Mean deviation c. Delphi method d. CPFR effect

a

Your company is conducting forecasting that revolves around population growth in large cities. This type of forecasting can be referred to as what component of a time series? a. Random Variations b. Trend Variations c. Cyclical Variations d. Seasonal Variations

b

Quantitative forecasts use mathematical techniques that are based on: a. Surveys b. Expert opinions c. Historical data d. Sales force knowledge of the market

c

Which one of the following is NOT a type of qualitative forecasting? a. Sales force composite b. Jury of executive opinion c. Simple moving average d. Consumer survey

c

When there is not a lot of currently relevant data available it is generally best to use: a. Time series forecasting b. Naive forecasting c. Simple moving average forecasting d. Qualitative forecasting

d

Which of the following is a benefit of CPFR? a. Integrates planning, forecasting and logistics activities b. Uses joint planning and promotions management c. Provides an analysis of key performance metrics d. All of these choices are correct. Hide Feedback

d

When linear trend forecasts are developed, demand would typically be: a. The dependent variable b. The lead variable c. The independent variable d. The passive variable

a

A positive error implies that a forecast was? a. Too high b. Too low c. Neither too high or too low d. The sign of an error gives no information as to the direction of the error.

b

In 2016, Spin Master, did not properly forecast demand for their new product, Hatchimals, causing ___________ for their distributors. a. The bullwhip effect b. Stockouts c. Excess stock d. Price reductions

b

Inaccurate forecasts can result in negative outcomes like: a. High inventory costs and increased profits b. Low inventory costs and stockouts c. Material shortages and decreased costs of obsolescence d. Imbalances in supply and demand

b

The real value of Collaborative Planning, Forecasting and Replenishment (CPFR) comes from: a. Sophisticated forecasting algorithms b. Exchange of forecasting information c. Both "Sophisticated forecasting algorithms" and "Exchange of forecasting information" d. None of these choices are correct.

b

All of the following may influence demand and should be considered when developing a forecast EXCEPT a. Emerging markets b. Supplier quality c. Ergonomic conditions d. New competition

c

Cyclical variations are longer than a year and can be influenced by: a. Population growth b. Political factors c. Events such as natural disasters d. Imbalances in supply and demand

c

Random variations in a Time Series component are due to: a. Using a large value for the exponential smoothing constant b. Population growth c. Unpredictable events d. Inaccurate responses of the expert participants

c