Test 1 - Part 2

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ou care about me?I don't think so.Six foot tallCame without a warning so I had to shoot him deadHe won't come around here anymoreCome around here?I don't feel so bad, I don't feel so bad, I don't feel so bad

Created by: Lida

52.A company’s supply chain strategy
- a.defines the set of customer needs that it seeks to satisfy through its products and services.
- b.specifies the portfolio of new products that it will try to develop.
- c.specifies how the market will be segmented and how the product will be positioned, priced, and promoted.
- d.determines the nature of procurement and transportation of materials as well as manufacture and distribution of the product.
- e.determines how it will obtain and maintain the appropriate set of skills and abilities to meet customer needs.
53.Which of the following are basic steps to achieving strategic fit?
- a.Understanding the customer and supply uncertainty.
- b.Understanding the supply chain capabilities.
- c.Achieving strategic fit.
- d.All of the above are basic steps to achieving strategic fit.
- e.None of the above are a basic step to achieving strategic fit.
54.Customer demand from different segments varies along which of the following attributes?
- a.The quantity of product needed in each lot.
- b.The response time that customers are willing to tolerate.
- c.The variety of products needed.
- d.The service level required.
- e.all of the above
56.The first step in achieving strategic fit between competitive and supply chain strategies is to
- a.understand the supply chain and map it on the responsiveness spectrum.
- b.understand customers and supply chain uncertainty.
- c.match supply chain responsiveness with the implied uncertainty of demand.
- d.ensure that all functional strategies within the supply chain support the supply chain’s level of responsiveness.
- e.none of the above
57.The second step in achieving strategic fit between competitive and supply chain strategies is to
- a.understand the supply chain and map it on the responsiveness spectrum.
- b.understand customers and supply chain uncertainty.
- c.match supply chain responsiveness with the implied uncertainty of demand.
- d.ensure that all functional strategies within the supply chain support the supply chain’s level of responsiveness.
- e.none of the above
58.The final step in achieving strategic fit between competitive and supply chain strategies is to
- a.understand the supply chain and map it on the responsiveness spectrum.
- b.understand customers and supply chain uncertainty.
- c.match supply chain responsiveness with the implied uncertainty of demand.
- d.combine customer and supply chain uncertainty and map it on the implied uncertainty spectrum.
- e.all of the above
59.Supply chain responsiveness includes the ability to do which of the following?
- a.Respond to wide ranges of quantities demanded
- b.Meet short lead times
- c.Handle a large variety of products
- d.Meet a very high service level
- e.all of the above
60.Supply chain responsiveness includes the ability to do which of the following?
- a.Handle supply uncertainty
- b.Build highly innovative products
- c.Meet short lead times
- d.Meet a very high service level
- e.all of the above
61.Supply chain responsiveness includes the ability to do which of the following?
- a.Handle supply uncertainty
- b.Understand customers and supply chain uncertainty
- c.Match supply chain responsiveness with the implied uncertainty of demand
- d.Ensure that all functional strategies within the supply chain support the supply chain’s level of responsiveness
- e.none of the above
62.Supply chain responsiveness includes the ability to do which of the following?
- a.Understand customers and supply chain
- b.Meet a very high service level
- c.Match supply chain responsiveness with the implied uncertainty of demand
- d.Ensure that all functional strategies within the supply chain support the supply chain’s level of responsiveness
- e.none of the above
63.Supply chain responsiveness includes the ability to do which of the following?
- a.Understand customers and supply chain
- b.Match supply chain responsiveness with the implied uncertainty of demand
- c.Meet short lead times
- d.Ensure that all functional strategies within the supply chain support the supply chain’s level of responsiveness
- e.all of the above
64.The curve that shows the lowest possible cost for a given level of responsiveness is referred to as the
- a.supply chain responsiveness curve.
- b.supply chain efficiency curve.
- c.cost-responsiveness efficient frontier
- d.responsiveness spectrum.
- e.none of the above
65.A firm that is not on the cost-responsiveness efficient frontier can improve
- a.both responsiveness and cost performance.
- b.only responsiveness
- c.only cost performance.
- d.responsiveness, but not cost performance.
- e.neither responsiveness nor cost performance.
66.The preferable supply chain strategy for a firm that sells multiple products and serves customer segments with very different needs is to
- a.set up independent supply chains for each different product or customer segment.
- b.set up a supply chain that meets the needs of the highest volume product or customer segment.
- c.tailor the supply chain to best meet the needs of each product’s demand.
- d.set up a supply chain that meets the needs of the customer segment with the highest implied uncertainty.
- e.set up a supply chain that meets the needs of product with the highest implied uncertainty.
67.Marketing can utilize forecasts to make decisions concerning
- a.scheduling.
- b.promotions.
- c.inventory control.
- d.aggregate planning.
- e.purchasing.
68.One of the characteristics of forecasts is
- a.aggregate forecasts are usually less accurate than disaggregate forecasts.
- b.disaggregate forecasts are usually more accurate than aggregate forecasts.
- c.short-term forecasts are usually less accurate than long-term forecasts.
- d.long-term forecasts are usually less accurate than short-term forecasts.
- e.none of the above
69.Long-term forecasts are usually less accurate than short-term forecasts because
- a.short-term forecasts have a larger standard deviation of error relative to the mean than long-term forecasts.
- b.short-term forecasts have more standard deviation of error relative to the mean than long-term forecasts.
- c.long-term forecasts have a smaller standard deviation of error relative to the mean than short-term forecasts.
- d.long-term forecasts have a larger standard deviation of error relative to the mean than short-term forecasts.
- e.none of the above
70.Aggregate forecasts are usually more accurate than disaggregate forecasts because
- a.aggregate forecasts tend to have a larger standard deviation of error relative to the mean.
- b.aggregate forecasts tend to have a smaller standard deviation of error relative to the mean.
- c.disaggregate forecasts tend to have a smaller standard deviation of error relative to the mean.
- d.disaggregate forecasts tend to have less standard deviation of error relative to the mean.
- e.none of the above
71.Time series forecasting methods are most appropriate when
- a.there is little historical data available.
- b.the basic demand pattern varies significantly from one year to the next.
- c.the basic demand pattern does not vary significantly from one year to the next.
- d.experts have critical market intelligence.
- e.forecasting demand several years into the future.
72.Which of the following is correct?
- a.Observed demand (O) = Level component (L) + Random component (R)
- b.Observed demand (O) = Seasonal component (S) + Random component (R)
- c.Observed demand (O) = Systematic component (S) + Trend component (T)
- d.Observed demand (O) = Systematic component (S) + Random component (R)
- e.Observed demand (O) = Trend component (T) + Random component (R)
73.Which of the following is not a necessary step to estimate the three parameters—level, trend, and seasonal factors of the systematic component of demand?
- a.Deseasonalize demand and run linear regression to estimate level and trend.
- b.Estimate seasonal factors.
- c.Remove the trend factor of demand and run linear regression to estimate seasonal factors.
- d.All of the above are steps.
- e.None of the above are steps.
74.A static method of forecasting
- a.assumes that the estimates of level, trend, and seasonality within the systematic component do not vary as new demand is observed.
- b.assumes that the estimates of level, trend, and seasonality within the systematic component vary as new demand is observed.
- c.the estimates of level, trend, and seasonality are updated after each demand observation.
- d.All of the above are true.
- e.None of the above are true.
75.The trend corrected exponential smoothing (Holt’s Model) forecast method is appropriate when
- a.demand has observable trend or seasonality.
- b.demand has no observable trend or seasonality.
- c.demand has observable trend but no seasonality.
- d.demand has no observable level or seasonality.
- e.none of the above
76.The trend and seasonality corrected exponential smoothing (Winter’s Model) forecast method is appropriate when
- a.demand has observable trend, level, and seasonality.
- b.demand has no observable trend or seasonality.
- c.demand has observable trend but no seasonality.
- d.demand has no observable level or seasonality.
- e.none of the above
77.Managers perform a thorough error analysis on a forecast for which of the following key reasons?
- a.To establish a closely linked systematic forecasting method to accurately predict the level season component of demand.
- b.To determine whether the current forecasting method is accurately predicting the systematic component of demand.
- c.In order to develop contingency plans that account for forecast error.
- d.all of the above
- e.b and c only
78.The measure of how significantly a forecast method consistently over- or underestimates demand is
- a.mean squared error (MSE).
- b.mean absolute deviation (MAD).
- c.mean absolute percentage error (MAPE).
- d.bias.
- e.the tracking signal.

Test 1 - Part 2

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