Omis 320 Test 5&6

Front 1

Which of the following indices provided by the Institute of supply management is considered the most important by economists because it is a composite of five weighted seasonally adjusted indices

Back 1

Purchasing managers index

Front 2

According to the textbook which of the following is not a way to closely match supply and demand?

Back 2

Maintaining a rigid pricing system

Front 3

The impact of poor communication and inaccurate forecasts resonates along the supply chain and results in the

Back 3

Bullwhip affect

Front 4

Inaccurate forecasts can result in negative outcomes like:

Back 4

Stock outs and poor responsiveness to market dynamics

Front 5

Which of the following is not a type of qualitative forecasting?

Back 5

Naïve method

Front 6

The following are all common qualitative forecasting models except:

Back 6

Trend variation

Front 7

Which of the following statements is false:

A. Time series forecasting is based on the assumption that the future is an extension of the past

B. Cause and effect forecasting assumes that one or more factors are related to demand and therefore can be used to predict future demand

C. All quantitative methods become less accurate as the forecasts time horizon increases

D. It is generally not recommended to use a combination of both quantitative and qualitative methods

Back 7

D

Front 8

Your company is conducting forecasting that revolves around the current recession and expansion of the US economy. This type of forecasting can be referred to as what component of a time series?

Back 8

Cyclical variations

Front 9

The following time series approach to forecasting uses historical data to generate a forecast and works well when demand is fairly stable overtime:

Back 9

Simple moving average

Front 10

Exponential smoothing forecast has the same value as the naïve forecast when a in the exponential of smoothing model is equal to:

Back 10

1

Front 11

One common cause and affect model used is:

Back 11

Regression analysis

Front 12

Some measures of forecasting accuracy include mean absolute deviation, mean absolute percentage error, and mean squared error. The formula for each is dependent on the forecast error, which is calculated by using the equation:

Back 12

Actual demand for period T minus the forecasted demand for period T

Front 13

If a tracking signal is positive which of the following is true?

Back 13

Actual value is higher than forecast

Front 14

Which of the following is an engineering document that shows an inclusive listing of all the component parts and assemblies making up the final product?

Back 14

Bill of materials

Front 15

The goal of resource planning is to minimize the discrepancy between what capacity and:

Back 15

Demand

Front 16

Which of the following consist of different products that share similar characteristics, components or manufacturing processes

Back 16

Product family

Front 17

Which of the following seeks to develop short range plans seeking to effectively and efficiently manage components and or subassemblies over time period of a few days to a few weeks?

Back 17

MRP

Front 18

To check the feasibility of the master production schedule, one would look to:

Back 18

Rough-cut capacity plan

Front 19

Which of the following is a long-range materials plan:

Back 19

Aggregate production plan

Front 20

In a bill of materials, items at which level are independent demand items?

Back 20

Level zero

Front 21

Which of the following basic production strategies used for addressing the aggregate planning problem would work best with make to order manufacturing firms

Back 21

Chase production strategy

Front 22

Which of the following is not one of the three basic methods used to calculate the available to promise quantities:

A. Discrete available to promise

B. Cumulative available to promise without looking ahead

C. Indiscreet available to promise

D. Cumulative available to promise with looking ahead

Back 22

C

Front 23

Which of the following could be considered a master production schedule for a service firm?

A. The reservation book utilized by a restaurant

B. The employee shift schedule utilized by an auto shop

C. A hospital patients personal information fill

D. The recipe book utilized by a chef at a restaurant

Back 23

A

Front 24

Which of the following MRP terms represents a committed order awaiting delivery for a specific period?

Back 24

Scheduled receipt

Front 25

Which of the following MRP terms represent the parts demanded by a parent?

Back 25

Component

Front 26

The acronym ERP is short for:

Back 26

Enterprise resource planning

Front 27

Which of the following is considered an advantage/benefit of utilizing an ERP system

Back 27

It allows organizations to more easily communicate information about operational changes to supply chain members

Front 28

Which of the following is considered an add vantage/benefit of utilizing an ERP system(2)

Back 28

Enables the company to utilize a single centralized database system, thus illuminating duplicate data entry

Front 29

While ERP is a relatively new technology, it has grown rapidly since the early 1990s. Which of the following is the reason that contributed to its rapid growth?

Back 29

The year 2000 millennium bug