1.Which of the following are common causes for stockouts? a. Poor forecast accuracy; i.e., underestimate demand…

1.Which of the following are common causes for stockouts?

a. Poor forecast accuracy; i.e., underestimate demand
b. Shipping issues that delay product arrival
c. Parts shortages that limit production
d. Excess warehouse capacity
e. All of the above
f. Only a, b, and c

2.Which of the following is a cost associated with overstock
situations?

a. Opportunity costs
b. Holding costs
c. Markdown costs
d. Disposal costs
e. All of the above
f. Only a, b, and c

3.If your data fluctuates around a consistent mean, you have a
_________ pattern.

Level
Tend
Seasonal
Cyclical
None of the above

4.When the cost of excess inventory or stockouts is low, you can
probably use a ____________ forecasting method.

Simple
Complex
Long
Sophisticated
None of the above

5.Which of the following are goals of S&OP?

a. Get everyone to agree to the nature of the business
environment
b. Get everyone to agree to their specific roles in supporting
the corporate strategy.
c. Get everyone to agree to how to work together to synchronize
the firms value-added activities.
d. Get everyone to agree to a single forecast; i.e.,
one-forecast planning.
e. All of the above
f. Only c and d

6.Within S&OPs Supply Review, you must examine
manufacturing capacity, supply chain inventory, transportation, and
logistics/DC capacity. You should also develop contingency
plans.

TrueFalse

7.Under which circumstances would you use a qualitative
forecast?

a. Domain knowledge is critical
b. Pertinent data is scarce
c. You have access to qualified key informants
d. All of the above
e. Only a and b

8.If you are using a simple-moving average and you want your
forecast to ignore occasional noise in the data, which of the
following is true?

a. You want a stable forecast
b. You want a responsible forecast
c. You use more periods of data
d. You use fewer periods of data
e. Only a and c
f. Only b and d

9.Given the following forecast and demand information, what is
the MSE?

Demand
Forcast
Error
Absolute Value
Squared Error
Absolute Percent
Error

1258
1295
-37.00
37.00
1369.00
0.0294

1267
1275
-8.33
8.33
69.44
0.0066

1256
1262
-6.00
6.00
36.00
0.0048

1268
1260
7.67
7.67
58.78
0.0060

1277
1264
13.33
13.33
177.78
0.0104

1277
1267
10.00
10.00
100.00
0.0078

1297
1274
23.00
23.00
529.00
0.0177

335.08
56.17
334.29
14.15
None of these

10.Given the following forecast and demand information, what is
the MAPE?

Demand
Forcast
Error
Absolute Value
Squared Error
Absolute Percent
Error

1258
1295
-37.00
37.00
1369.00
0.0294

1267
1275
-8.33
8.33
69.44
0.0066

1256
1262
-6.00
6.00
36.00
0.0048

1268
1260
7.67
7.67
58.78
0.0060

1277
1264
13.33
13.33
177.78
0.0104

1277
1267
10.00
10.00
100.00
0.0078

1297
1274
23.00
23.00
529.00
0.0177

.0123
.0136
.0050
.0118
None of these

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