SCM 3301 Exam 1 (Ch. 1, 2, 9, 10) Questions With Complete
Solutions
Adjusted Exponential Smoothing Model (263) Correct Answers
An expanded version of the Exponential Smoothing Model that
includes a trend adjustment factor
Aggregate Planning (295) Correct Answers Same as S&OP.
Brings together all the plans for the business (Marketing, SAles,
Development, Manufacturing, etc.) into one integrated set of
plans. It is performed at least once a month and is reviewed by
management at an aggregate (product family) level.
Bottum-Up Planning (297) Correct Answers An approach to
S&OP that is used when the product/service mix is unstable and
resource requirements vary greatly across the offerings. Under
such conditions, managers will need to estimate the
requirements for each set of products or services separately and
then add them up to get an overall picture of the resource
requirements.
Build-Up Forecast (255) Correct Answers A qualitative
forecasting technique in which individuals familiar with specific
market segments estimate the demand within these segments.
These individual forecasts are then added up to get an overall
forecast.
Business Strategy Correct Answers The strategy that identifies
a firm's targeted customers and sets time frames and
performance objectives for the business.
,Causal Forecasting Model (271) Correct Answers A class of
quantitative forecasting models in which the forecast is modeled
as a function of something other than time.
Changeover Flexibility Correct Answers The ability to provide
a new product with minimal delay.
Chase Production Plan (301) Correct Answers A sales and
Operations Plan in which production is changed in each time
period to match the sales forecast.
Collaborative Planning, Forecasting, and Replenishment (CPFR)
(279) Correct Answers A set of business processes, backed up
by information technology, in which supply chain partners agree
to mutual business objectives and measures, develop joint sales
and operational plans, and collaborate to generate and update
sales forecasts and replenishment plans.
Conformance Quality Correct Answers A subdimension of
quality that addresses whether a product was made or a service
performed to specifications.
Did the product/service conform to the standards that were set?
Constraint (314) Correct Answers Quantifiable conditions that
place limitations on the set of possible solutions
(i.e. demand that must be met, limits on materials or equipment
time, etc.)
, Core Competency Correct Answers Organizational Strengths or
abilities, developed over a long period of time, that customers
find valuable and competitors find difficult or even impossible
to copy.
Ex. Honda is known to have a core competency of engineering
and manufacturing small gas-powered engines. This has helped
Honda conquer numerous markets including motorcycles, lawn-
mowers, jet skis, and shitty rice burner sedans.
Delivery activities - SCOR Model Correct Answers Include
everything from entering customer orders and determine
delivery dates to storing and moving goods to their final
destination (the place not the movie)
Delivery Reliability Correct Answers A performance dimension
that refers to the ability to deliver products or services when
promised.
Delivery Speed Correct Answers A performance dimension that
referers to how quickly the operations or supply chain function
can fulfill a need once it has been identified.
Delivery Window Correct Answers The acceptable time range
in which deliveries can be made.
Delphi Method (254) Correct Answers A qualitative forecasting
technique in which experts work individually to develop
forecasts. The individual forecasts are shared among the group,
and then each participant is allowed to modify his or her forecast
Solutions
Adjusted Exponential Smoothing Model (263) Correct Answers
An expanded version of the Exponential Smoothing Model that
includes a trend adjustment factor
Aggregate Planning (295) Correct Answers Same as S&OP.
Brings together all the plans for the business (Marketing, SAles,
Development, Manufacturing, etc.) into one integrated set of
plans. It is performed at least once a month and is reviewed by
management at an aggregate (product family) level.
Bottum-Up Planning (297) Correct Answers An approach to
S&OP that is used when the product/service mix is unstable and
resource requirements vary greatly across the offerings. Under
such conditions, managers will need to estimate the
requirements for each set of products or services separately and
then add them up to get an overall picture of the resource
requirements.
Build-Up Forecast (255) Correct Answers A qualitative
forecasting technique in which individuals familiar with specific
market segments estimate the demand within these segments.
These individual forecasts are then added up to get an overall
forecast.
Business Strategy Correct Answers The strategy that identifies
a firm's targeted customers and sets time frames and
performance objectives for the business.
,Causal Forecasting Model (271) Correct Answers A class of
quantitative forecasting models in which the forecast is modeled
as a function of something other than time.
Changeover Flexibility Correct Answers The ability to provide
a new product with minimal delay.
Chase Production Plan (301) Correct Answers A sales and
Operations Plan in which production is changed in each time
period to match the sales forecast.
Collaborative Planning, Forecasting, and Replenishment (CPFR)
(279) Correct Answers A set of business processes, backed up
by information technology, in which supply chain partners agree
to mutual business objectives and measures, develop joint sales
and operational plans, and collaborate to generate and update
sales forecasts and replenishment plans.
Conformance Quality Correct Answers A subdimension of
quality that addresses whether a product was made or a service
performed to specifications.
Did the product/service conform to the standards that were set?
Constraint (314) Correct Answers Quantifiable conditions that
place limitations on the set of possible solutions
(i.e. demand that must be met, limits on materials or equipment
time, etc.)
, Core Competency Correct Answers Organizational Strengths or
abilities, developed over a long period of time, that customers
find valuable and competitors find difficult or even impossible
to copy.
Ex. Honda is known to have a core competency of engineering
and manufacturing small gas-powered engines. This has helped
Honda conquer numerous markets including motorcycles, lawn-
mowers, jet skis, and shitty rice burner sedans.
Delivery activities - SCOR Model Correct Answers Include
everything from entering customer orders and determine
delivery dates to storing and moving goods to their final
destination (the place not the movie)
Delivery Reliability Correct Answers A performance dimension
that refers to the ability to deliver products or services when
promised.
Delivery Speed Correct Answers A performance dimension that
referers to how quickly the operations or supply chain function
can fulfill a need once it has been identified.
Delivery Window Correct Answers The acceptable time range
in which deliveries can be made.
Delphi Method (254) Correct Answers A qualitative forecasting
technique in which experts work individually to develop
forecasts. The individual forecasts are shared among the group,
and then each participant is allowed to modify his or her forecast
