Demand Management, Forecasting, and Aggregate Planning MCQ
Demand Management, Forecasting, and Aggregate Planning MCQ
1. Service providers invest large amounts of money in training employees because ____.
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Correct Answer:
They lose business and revenue if they do not meet the service expectations of customers
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2. The _______ is an extension of the EOQ model when price discounts are allowe
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Correct Answer:
Quantity discount model
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3. The _______ is theinventory on-hand needed to satisfy demand during the order lead time perio
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Correct Answer:
Reorder point
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4. _______ are inventories created when a firm purchases a quantity large enough to last until the next purchase perio
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Correct Answer:
Cycle inventories
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5. “Production is varied to meet demand” defines which type of production planning strategy?
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Correct Answer:
Chase strategy
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6. Exception management is in which stage of the collaborative planning, forecasting, and replenishment process?
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Correct Answer:
Analysis stage
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7. _______ provides a measure of forecast bias.
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Correct Answer:
Running sum of forecast error
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8. The _______ is a measure of the variation in the dependent variable that can be explained by the independent variable.
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Correct Answer:
Sample coefficient of determination (R2)
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9. In simple linear regression forecasts, the _______ is a predictor of deman
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Causal variable
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10. Which of the following is a times series forecasting technique?
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Correct Answer:
Exponential smoothing forecast
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11. Which of the following is an associative forecasting technique?
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Linear trend forecast
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12. _______ is forecasting that uses mathematical models and historical dat
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Quantitative forecasting
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13. _______ is forecasting that is based on guesswork, intuition, or opinions.
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Qualitative forecasting
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14. _______ uses several rounds of questionnaires to establish a forecast consensus.
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The Delphi method
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15. _______ is based on the assumption that historic demand can be used to predict future deman
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A time series forecast
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16. The _______ department provides projections for the next year as an input to the forecasting process.
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Field sales
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17. The _______ department’s responsibilities are new product introductions, promotion, and pricing.
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Marketing
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18. The _______ department’s responsibility is to fill orders, monitor finished-goods inventories, and ensure on-time deliveries.
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Distribution
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19. The _______ department oversees the procurement of materials, parts, and components for the organization.
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Supply management
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20. Weighted Moving Average Forecast allows the user to weigh the more recent periods more heavily to take into consideration recent changes in the data .
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Correct Answer:
True
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21. Trend Variations is a demand variation caused by gradually ______ movements over time.
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Both a & b
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22. Tracking Signal used as a running check on the ______ of a forecasting technique.
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Accuracy
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23. Time Series Forecasts based on the assumption that the future is an extension of the past; thus, historical demand can be used to predict future demand .
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Correct Answer:
True
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24. Smoothing Constant used in the exponential smoothing forecast. The weight must be between _______ .
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Correct Answer:
0 and 1
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25. Which technique used recent historical demand to generate a forecast and is fairly reliable when the demand is stable over time ?
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Correct Answer:
Simple Moving Average Forecast
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26. Linear regression is used to identify the causal relationship and the forecast equation .
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Correct Answer:
True
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27. Seasonal Variations is a demand patterns that repeat over a consistent interval such as ______ , or seasons
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Correct Answer:
All of these
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28. Sample Correlation Coefficients range from _____ .
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Correct Answer:
−1 to +1
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29. Measure of the variation in the dependent variable that can be explained by the independent variable is known as ______ .
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Correct Answer:
Sample Coefficient of Determination
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30. Sales Force Estimates provide estimates of future customer demand.
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True
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31. Running Sum of Forecast Error provides a measure of forecast bias .
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Correct Answer:
True
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32. Random variations are what cause even the best forecasts to contain errors.
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Correct Answer:
True
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33. Qualitative forecasting Techniques are based on guesswork, intuition, or opinions, and are generally used when data are unavailable or too old to be of much use .
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Correct Answer:
True
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34. Production planning strategies is a sets of activities in operations management for meeting the aggregate plan .
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Correct Answer:
Production Planning Strategies
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35. Product family consists of different products that share similar _______ .
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All of these
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36. Multiple Regression Forecasting used when there are several independent variables used together, to predict the dependent variable .
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Correct Answer:
True
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37. This method provides an estimate of the magnitude of forecast error is known as _____ .
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Correct Answer:
Mean Absolute Percentage Error
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38. Which method provides an estimate of the magnitude of forecast error. The monthly absolute forecast error divided by actual demand is summed,
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Correct Answer:
Mean Absolute Percentage Error
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39. Which method is used for comparing forecasting techniques; it averages the absolute value of the errors over a given period of time ?
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Correct Answer:
Mean Absolute Deviation
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40. A linear regression forecast, where one variable is time and the other variable is the actual data is known as ______ .
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Correct Answer:
Linear Trend Forecast
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41. Which technique uses a group of senior executives who are knowledgeable about the firm’s products ?
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Correct Answer:
Jury of Executive Opinion
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42. Forecast error simply is the difference between the ______ and the forecast for that period.
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Correct Answer:
Both a & b
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43. A type of forecast error that occurs when a forecast has a tendency to be either consistently higher or lower than the actual demand is known as _______ .
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Correct Answer:
Forecast Bias
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44. Which forecast approach requires fewer calculations than the weighted moving average forecast because only two data points are needed ?
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Correct Answer:
Exponential Smoothing Forecast
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45. The process that balances customer requirements with supply chain capabilities is known as ______ .
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Correct Answer:
Demand Management
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46. Cyclical Variation occurs every several years and is influenced by macroeconomic and political factors.
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Correct Answer:
True
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47. Contingent Workers part-time and _______ .
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Temporary workers
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48. Contingency Plans Insurance-type activities that are performed to _____ and its customers for times when actual demand varies significantly from the forecast
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Both a & b
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49. Consumer Surveys focus groups to gather consumer opinions of existing products and new product ideas to generate a forecast
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Correct Answer:
True
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50. Collaborative Planning, Forecasting, and Replenishment allows for continuous _____ of inventory and upcoming requirements, resulting in less safety stock .
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Correct Answer:
Updating
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51. A predictor of the dependent variable demand is known as _____
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Causal Variable
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52. Business cycles in the United States have been affected by various global events.
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True
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53. Which techniques assume that one or more factors (independent variables) are related to demand.
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Correct Answer:
Associative Forecasts
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54. Aggregate Planning Planning that occurs when firms consider their _______ business plans
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Correct Answer:
Long-term
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