OPMA 3306 Final Exam Questions with Correct Answers Latest Update 2025/2026

OPMA 3306 Final Exam Questions with Correct Answers Latest Update 2025/2026 Workforce level - Answers Number of workers needed in a period Sustainability - Answers The ability to meet current resources needs without compromising the ability of future generations to meet their needs Tripe bottle line - Answers Evaluating the firm against social, economic, and environmental criteria. Operations and supply chain strategy - Answers The setting of broad policies and plans that will guide the use of resources needed by the firm to implement its corporate strategy. Operations effectiveness - Answers Performing activities in a manner that best implements strategic priorities at minimum cost. Straddling - Answers When a firm seeks to match what a competitor is doing by adding new futures, services, or technologies to existing activities. Order winners - Answers One or more specific marketing oriented dimensions that clearly differentiate a product from competitors products. order qualifiers - Answers dimensions used to screen a product or service as candidate for purchase. activity system maps - Answers diagrams that show how a company's strategy is delivered through a set of supporting activities. Supply Chain Risk - Answers The likelihood of disruption that would impact the ability of a company to continuously supply products or services. Productivity - Answers a measure of how well resources are used: Productivity = outputs/inputs A strategy that is designed to meet current needs without compromising the ability of future generations to meet their needs - Answers Sustainable The three criteria included in a tripe bottom line - Answers Social, economic, environmental The seven operations and supply chain competitive dimensions - Answers -cost quality -delivery speed -delivery reliability -coping with changes in demand -flexibility and speed of new product introduction -other product-specific criteria it is probably most difficult to compete on this major competitive dimension - Answers Cost This occurs when a company seeks to match what a competitor is doing by while maintaining its existing competitive position. - Answers Straddling A criterion that differentiates the products of services of one firm from those of another - Answers order winner a screening showing the activities that support a company's strategy - Answers order-qualifier A measure calculated by taking the ratio of output to input - Answers Productivity Strategic forecasts - Answers Medium and long term forecast used to make decisions related to strategy and estimating aggregate demand. Tactical forecast - Answers Short-term forecast used as input for making day-to-day decisions related to meeting demand. Time series analysis - Answers a type of forecast in which data relating to past demand are used to predict the future demand. Moving average - Answers a forecast based on average past demand Weighted moving average - Answers A forecast made with past data where more recent data are giving more significance than older data. Exponential smoothing - Answers A time series forecasting technique in which each increment of past demand data is decreased by (1-a) Smoothing constant alpha (α) - Answers The parameter in the exponential smoothing equation that controls the seed of reaction to differences between forecasts and actual demand. Smoothing constant delta (δ) - Answers An additional parameter used in an exponential smoothing equation that includes an adjustment for trend Linear regression forecast - Answers A forecast technique that assumes that past data and future projections fall around a straight line. Decomposition - Answers The process of identifying and separating time series data into fundamental components such as trend and seasonality Forecast error - Answers The difference between actual demand and what was forecast Mean absolute deviation (MAD) - Answers The average forecast error using absolute values of the error of each fast forecast. Mean absolute percent error (MAPE) - Answers The mean absolute deviation divided by average demand; the average error expressed as a percentage of demand. Tracking signal - Answers A measure that indicates whether the forecast average is keeping pace with genuine upward or downward changes in demand. causal relationship forecasting - Answers forecast using independent variables other than time to predict future demand. Collaborative Planning, Forecasting, and Replenishment (CPFR) - Answers An internet too to coordinate forecasting, production, and purchasing in a firm's supply chain. This is a type of forecast used to make long-term decisions, such as where to locate a warehouse or how many employees to have in a plant next year. - Answers Strategic forecast This is the type of demand that is most appropriate for using forecasting models - Answers Independent demand. This is a term used for actually influencing the sale of a product or service - Answers demand management These are the sic major components of demand. - Answers average demand for the period, trend, seasonal elements, cyclical elements, random variation, and auto-correlation. This type of analysis is most appropriate when the past is a good predictor of the future. - Answers Time series analysis If the tracking signal for your forecast was consistently positive, you could then say this about your forecasting technique. - Answers biased, consistently too low