SCHM 2301 Exam Questions and
Answers Graded A+
What is the definition of Production Order Quantity? - Correct answer-the most
economic quantitiy to order when units become aviable at the rate at which they
are produced
What are the two main components that make up setup cost? - Correct answer-
Administration epenses and expenses of rearranging a work center
What is the primary purpose of Sales and Operations Planning (S&OP)? - Correct
answer-to devlop tactical plans by integrating customer focused marketing plans
with operational management
What are the three key components of sustainability in supply chain management
as defined in the text? - Correct answer-pollution management, people
management, and business model changes
What is the primary focus of the Periodic Review Model in inventory
management? - Correct answer-checking and ordering inventory at regular levels
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, What is the primary purpose of the Moving Average forecasting model? - Correct
answer-to compute a forecast as the average of deamnd over a number of
immediate periods
What does the smoothing coefficient represent in demand forecasting? - Correct
answer-th weight given to the most recent demand
What is the primary responsibility of the supplier in a Supplier-managed Inventory
(SMI) system? - Correct answer-managing the inventory at a customers facility
What is the primary characteristic of the Chase Strategy in production
management? - Correct answer-the prodution rate is changed in each period to
match the ampunt of the expected demand
What are the four key components of supply management as defined in the text? -
Correct answer-identification, acquisition, positioning, and management
What is the primary characteristic of the Exponential Smoothing method in
demand forecasting? - Correct answer-it applies to exponentially decreasing
weights to past demand data
What is the primary purpose of the Delphi Method in forecasting? - Correct
answer-to gather expert opinions for forecasts
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Answers Graded A+
What is the definition of Production Order Quantity? - Correct answer-the most
economic quantitiy to order when units become aviable at the rate at which they
are produced
What are the two main components that make up setup cost? - Correct answer-
Administration epenses and expenses of rearranging a work center
What is the primary purpose of Sales and Operations Planning (S&OP)? - Correct
answer-to devlop tactical plans by integrating customer focused marketing plans
with operational management
What are the three key components of sustainability in supply chain management
as defined in the text? - Correct answer-pollution management, people
management, and business model changes
What is the primary focus of the Periodic Review Model in inventory
management? - Correct answer-checking and ordering inventory at regular levels
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, What is the primary purpose of the Moving Average forecasting model? - Correct
answer-to compute a forecast as the average of deamnd over a number of
immediate periods
What does the smoothing coefficient represent in demand forecasting? - Correct
answer-th weight given to the most recent demand
What is the primary responsibility of the supplier in a Supplier-managed Inventory
(SMI) system? - Correct answer-managing the inventory at a customers facility
What is the primary characteristic of the Chase Strategy in production
management? - Correct answer-the prodution rate is changed in each period to
match the ampunt of the expected demand
What are the four key components of supply management as defined in the text? -
Correct answer-identification, acquisition, positioning, and management
What is the primary characteristic of the Exponential Smoothing method in
demand forecasting? - Correct answer-it applies to exponentially decreasing
weights to past demand data
What is the primary purpose of the Delphi Method in forecasting? - Correct
answer-to gather expert opinions for forecasts
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
