SCM - Chapter 2 w/ Quiz 2: Forecasting Flashcards


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supply chain management - service and manufacturing operations
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1

"Translates the business strategy into specific actions and coordinates with other​ areas" is the definition of

functional strategy

2

The​ firm's targeted customers and the operations and supply chain functions needed to provide value to them are identified in the

business strategy

3

McDonald's focuses the employee on a specific task such as cashier or grill cook. Subway employees have broad skills and can run the entire restaurant by themselves. The choice of employee roles is an example of which of the following types of business​ elements?

infrastructural

4

Companies must prioritize and determine the performance dimensions on which they will focus and excel. Each performance dimension has several​ sub-dimensions. Performance,​ conformance, and reliability are​ sub-dimensions of

quality

5

Which of the following is a structural element of a business​ strategy?

computer systems

6

"Performance dimensions for which customers expect a minimum level of​ performance, but do not provide a competitive​ advantage" is the definition of

order qualifier

7

No other company in the world is as proficient at​ "just-in-time" production as Toyota. This technique is a great competitive advantage for them and is clearly

a core competency

8

Companies must prioritize and determine the performance dimensions on which they will focus and excel. Each performance dimension has several​ sub-dimensions. Mix,​ changeover, and volume are​ sub-dimensions of

flexibility

9

​McDonald's invests significantly more in their equipment than Subway. This is an example of which type of strategy​ element?

structural

10

"Performance dimensions which differentiate a​ company's products and​ services" is the definition of

order winner

11

​"A mechanism for coordinating and guiding decisions regarding the elements of a businesslong dash—identifies core competencies and targeted​ customers; sets time frames and performance​ objectives" is the definition of

business strategy

12

Which of the following is an infrastructural element of a business​ strategy?

policies

13

​"Asset acquisition, new product planning and technology investments are most closely assocated​ with:

long-range forecasts

14

Which of the following statements about forecasts is​ true?

Forecasts for the near term tend to be more accurate.

15

The situation is stable and historical data​ exists, as in the case of mature products or technologies. In this​ case, which of the following forecasting approachs is​used?

quantitative method

16

One qualitative forecasting method bases the forecast for a new product or service on the actual sales history of a similar product or service. An example is forecasting demand for the newest model of iPod by using the demand history from the previous model of iPod. This method is

life cycle analogy

17

​"What is the basic assumption of Time Series​ forecasting?

historical time series data are good predictors of the future

18

"Which of the following is most closely associated with the Weighted Moving Average forecast​ model?

responsiveness is determined by the choice of weight values

19

​"Which of the following is not associated with forecast​ bias?

commonly measured by the Mean Absolute Deviation

20

"Error metrics may indicate that the forecast model is producing poor results. What action may a manager take to remidy this​ problem?

change forecast method to better match the demand pattern

21

"Which of the followoing is most closely associated with forecast trend

consistent upward or downward movement of sales

22

One qualitative forecasting method uses experts working individually. The individual forecasts are shared among the​ group, after which each participant is allowed to modify his or her forecast based on the shared information. This method is

Delphi