Question: chapter-1-introduction-to-supply-chain-management-11

1. Which of the following indices provided by the
Institute for Supply Management (ISM) is considered the most important by
economists because it is a composite of five weighted, seasonally adjusted
indices?

a.

Purchasing Managers Index

b.

Export Orders Index

c.

Production and Inventory
Index

d.

New Orders Index

2. According
to the textbook, which of the following is NOT a way to closely match supply
and demand?

a.

Holding high amounts of
inventory

b.

Maintaining a rigid pricing
system

c.

Utilizing overtime

d.

Hiring temporary workers

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

a.

Bullwhip effect

b.

Delphi method

c.

CPFR effect

d.

Mean deviation

4. Inaccurate
forecasts can result in negative outcomes like:

a.

Stockouts and poor
responsiveness to market dynamics

b.

High inventory costs of
inventory and increased profits

c.

Material shortages and
decreased costs of obsolescence

d.

Low inventory costs of
inventory and stockouts

5. Which
one of the following is not a type of qualitative forecasting?

a.

Sales force composite

b.

Consumer survey

c.

Jury of executive opinion

d.

Naïve method

6. The
following are all common qualitative forecasting models EXCEPT:

a.

Jury of Executive Opinion

b.

Trend Variation

c.

Delphi Method

d.

Sales Force Composite

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 forecast’s time horizon increases

d.

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

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

a.

Trend Variations

b.

Cyclical Variations

c.

Seasonal Variations

d.

Random Variations

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

a.

Naïve Forecast

b.

Weighted Moving Average

c.

Simple Moving Average

d.

Exponential Smoothing

Data Set E1

Period

Sales Volume

1

10000

2

12400

3

14250

4

15750

5

20500

6

18500

7

15750

8

20500

9

21500

10

22550

10. Using
Data Set E1, what would be the forecast for period 7 using a four period moving
average: (Choose the closest answer.)

a.

17625

b.

15225

c.

15300

d.

17250

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