1. Question : The greater the randomness in the model, the greater the number of periods should be used in a moving average forecast.
True
False
2. Question : The ratio of earnings to sales for a given time period is a firm’s profit margin.
True
False
3. Question : A company that uses portfolio analysis would probably classify things like office supplies in the Bottleneck quadrant.
True
False
1. Question : A qualitative forecasting technique in which individuals familiar with specific market segments estimate the demands within these sectors that are then summed to get an overall forecast is called a:
market survey
life cycle analogy
panel consensus
build-up method
2. Question : The use of supply chain partners to provide products or services is called:
outsourcing.
insourcing.
offloading.
partnering.
3. Question : Fed up with her working conditions at the call center, Lisa decides to invest in a state-of-the-art sewing machine and produce limited quantities of her own clothing designs. After a few months of operation, she decides to apply some of the forecasting techniques she mastered in school. Which of these statements about her forecasts is correct?
Her forecasts will probably be 100% accurate.
Her demand forecasts for a year from now will probably be more accurate than her demand forecasts for three months from now.
Her demand forecasts for each style of skirt will be less accurate than her demand forecasts for all skirts.
The best way for her to determine the amount of fabric she needs is to forecast it based on her customer orders for each type of skirt.
1. Question : Which of these is a direct cost associated with outsourcing?
Direct material
Direct labor
Variable overhead
Price from invoice
2. Question : Which of these is NOT a logistics activity?
material handling
inventory management
warehousing
inspection
3. Question : Portfolio analysis begins with assignment to a quadrant before a sourcing strategy is formulated.
True
False
1. Question : Forecasts are almost always wrong.
True
False
2. Question : Which of these is a direct cost associated with outsourcing?
Direct material
Direct labor
Variable overhead
Price from invoice
3. Question : A qualitative forecasting technique in which individuals familiar with specific market segments estimate the demands within these sectors that are then summed to get an overall forecast is called a:
market survey
life cycle analogy
panel consensus
build-up method
1. Question : Sales and operations planning indicates how the organization will use its tactical capacity resources to meet expected customer demand.
True
False
2. Question : Available to promise inventory is always zero for the first week in the master schedule record the randomness in the model.
True
False
3. Question : A company that orders at their economic order quantity has an annual ordering cost that is half of their total cost.
True
False
