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LOG EXAMII
| Question | Answer |
|---|---|
| With respect to time-series methods, the systematic component measures the expected value of demand and does NOT consist of | random component |
| ________ forecasting methods use historical demand to make a forecast | time series |
| There are essentially three distinct aggregate planning strategies for achieving balance between costs. Which of the following is not one of these | Response strategy–using utilization as the lever |
| An aggregate planner requires information on constraints. Which of the following is one of the typical constraints for an aggregate planner? | limits on overtime |
| How frequently should the aggregate plan be rerun? | as inputs to the aggregate plan change |
| A highly effective tool for a company to use when it tries to maximize profits while being subjected to a series of constraints is | linear programming |
| The strategy where the production rate is synchronized with the demand rate by varying machine capacity or hiring and laying off employees as the demand rate varies is the | chase strategy |
| The measure of forecast error where the average absolute error of each forecast is shown as a percentage of demand is | mean absolute percentage error (MAPE) |
| Which factor favors promotion during low-demand periods? | High ability to increase overall market |
| Which factor favors promotion during peak-demand periods? | High ability to increase overall market |
| Promoting during a peak demand month may decrease overall profitability if | a significant fraction of the demand increase results from a forward buy |
| In this approach to managing capacity, a firm uses flexible work hours by the workforce to manage capacity to better meet demand | Time flexibility from workforce |
| Which of the following is an approach that firms can use when managing inventory to meet predictable demand variability? | Using common components across multiple products |
| Operational improvements that reduce lot sizes can dampen the bullwhip effect by | decreasing the amount of fluctuation that can accumulate between any pair of stages of a supply chain |
| When a single stage controls replenishment decisions for the entire chain, coordination is achieved because | the problem of multiple forecasts is eliminated |
| Forward buying results in | large orders during the promotion period followed by very small orders after that |
| The fact that each stage in a supply chain forecasts demand based on the stream of orders received from the downstream stage results in | a magnification of fluctuations in demand as we move up the supply chain from the retailer to the manufacturer |
| The situation in which fluctuations in orders increase as they move up the supply chain from retailers to wholesalers to manufacturers to suppliers is known as | the bullwhip effect |
| Cycle inventory exists because producing or purchasing in large lots allows a stage of the supply chain to | exploit economies of scale and lower cost |
| The average inventory in the supply chain due to either production or purchases in lot sizes that are larger than those demanded by the customer is | cycle inventory |
| When demand is steady, cycle inventory and lot size are related as | Cycle Inventory --> Q/2 |
| Cycle inventory is primarily held to | take advantage of economies of scale and reduce cost within the supply chain |
| Which of the following is not a cost that must be considered in any lot sizing decision? | Manufacturing cost per unit, $M/unit |
| Which of the following would not be included in holding cost? | Cost of manufacturing |
| In a supply chain where each stage of the supply chain independently makes its pricing decisions with the objective of maximizing its own profit, | supply chain profit is lower than a coordinated solution |
| When the retailer decides to pass through very little of the promotion to customers but purchase in greater quantity during the promotion period to exploit the temporary reduction in price, the result is | an increase in the amount of inventory held at the retailer |
| A(n) ________ occurs when a retailer purchases in the promotional period for sales in future periods. | forward buy |
| ________ is the practice whereby a firm charges differential prices to maximize profits. | price discrimination |
Created by:
resler49