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Test Quiz

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Words 1208
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Question 1
2.2222 out of 2.2222 points | | | If a tracking signal is positive, which one of the following is true? Answer | | | | | Selected Answer: | 5. Actual value is higher than forecast | | | | |
Question 2
2.2222 out of 2.2222 points | | | Given the following information, calculate the forecast (accurate to 2 decimals) for period three using exponential smoothing and a = 0.3. Period Demand Forecast 1 64 59 2 70 Answer | | | | | Selected Answer: | 5. 63.35 | | | | |
Question 3
0 out of 2.2222 points | | | According to the textbook, which is typically utilized when companies are deciding whether or not to outsource? Answer | | | | | Selected Answer: | 1. Selective sourcing analysis | | | | |
Question 4
2.2222 out of 2.2222 points | | | The UNLV Bookstore sells a unique calculator to college students. The demand for this calculator has a normal distribution with an average daily demand of 20 units and a standard deviation of 4 units per day. The lead time for this calculator is very stable at 9 days. Compute the statistical reorder point that results in a 95 percent in-stock probability (Z = 1.65). Answer | | | | | Selected Answer: | 4. 199.8 units | | | | |
Question 5
2.2222 out of 2.2222 points | | | Based on the information in Data Set E2, what is the mean squared error (accurate to 2 decimals)? Answer | | | | | Selected Answer: | 3. 1.40 | | | | |
Question 6
2.2222 out of 2.2222 points | | | Which of the following is an engineering document that shows an inclusive listing of all the component parts and assemblies making up the final product? Answer | | | | | Selected Answer: | 1. Bill of Materials | | | | |
Question 7
2.2222 out of 2.2222 points | | | According to the textbook, collaborative relationships place a relatively lower importance rating on which of the following competitive priorities: Answer | | | | | Selected Answer: | 1. Cost | | | | |
Question 8
2.2222 out of 2.2222 points | | | According to the textbook, which of the following is considered a reason that ERP implementations fail? Answer | | | | | Selected Answer: | 5. The organization may lack the necessary workforce and expertise to properly implement the system | | | | |
Question 9
2.2222 out of 2.2222 points | | | A forecasting method has produced the following data over the past 5 months shown in Data Set E2. What is the mean absolute deviation (accurate to 2 decimals)? Data Set E2 Month Actual Forecast 1 10 11 2 8 10 3 9 8 4 6 6 5 7 8 Answer | | | | | Selected Answer: | 1. 1.00 | | | | |
Question 10
2.2222 out of 2.2222 points | | | Which one of the following is not a type of qualitative forecasting? Answer | | | | | Selected Answer: | 2. Naïve method | | | | |
Question 11
0 out of 2.2222 points | | | Which of the following is TRUE? Answer | | | | | Selected Answer: | 1. VMI stands for Vertically Managed Inventory | | | | |
Question 12
2.2222 out of 2.2222 points | | | According to the EcoMarkets survey, which surveys over 6000 private and public buyers, the most popular aspect of green sourcing is: Answer | | | | | Selected Answer: | 5. Energy conservation | | | | |
Question 13
2.2222 out of 2.2222 points | | | The cost of a widget is $5, and the carrying rate is 40%; the cost of processing an order is $25, the annual demand is 400 widgets, and supply and usage patterns are stable. Assuming you are ordering at the lot size of 200 units per order (not the EOQ quantity). What is the annual ordering cost? Answer | | | | | Selected Answer: | 1. 50 | | | | |
Question 14
2.2222 out of 2.2222 points | | | According to textbook, the top three challenges for CPFR implementation include all of the following except: Answer | | | | | Selected Answer: | 4. Supplier lead times | | | | |
Question 15
2.2222 out of 2.2222 points | | | In the absence of demand and delivery lead time variation, if demand is eight per day and purchase lead time is four days, the reorder point is: Answer | | | | | Selected Answer: | 2. 32 | | | | |
Question 16
2.2222 out of 2.2222 points | | | Using Data Set E1, what would be the forecast for period 6 using a five period weighted moving average? The weights for each period are 0.05, 0.10, 0.20, 0.30, and 0.35 from the oldest period to the most recent period, respectively. (Choose the closest answer.) Answer | | | | | Selected Answer: | 5. 16500 | | | | |
Question 17
0 out of 2.2222 points | | | Use this information below to calculate the optimal order quantity: Answer | | | | | Selected Answer: | 3. 590 | | | | |
Question 18
2.2222 out of 2.2222 points | | | Which of the following cannot be considered as independent demand items? Answer | | | | | Selected Answer: | 5. raw material items that become part of the final product at a manufacturing firm | | | | |
Question 19
2.2222 out of 2.2222 points | | | Which of the following is FALSE? Answer | | | | | Selected Answer: | 2. VMI provides retail facilities the opportunity to communicate to manufacturers that the customers are requesting customized items | | | | |
Question 20
0 out of 2.2222 points | | | Using Data Set E1, what would be the forecast for period 7 using a four period moving average: (Choose the closest answer.) Answer | | | | | Selected Answer: | 3. 15225 | | | | |
Question 21
2.2222 out of 2.2222 points | | | According to the textbook, which of the following is NOT a way to closely match supply and demand? Answer | | | | | Selected Answer: | 1. Maintaining a rigid pricing system | | | | |
Question 22
2.2222 out of 2.2222 points | | | Which of the following is NOT an assumption of the classic Economic Order Quantity (EOQ)? Answer | | | | | Selected Answer: | 1. The production rate must be greater than the consumption rate. | | | | |
Question 23
2.2222 out of 2.2222 points | | | Organizations that choose to implement one single system with all of the desired applications from a single vendor versus choosing to implement the best applications or modules for each of the different functional departments associated with the supply chain is said to have chosen a(n): Answer | | | | | Selected Answer: | 5. Single integrator solution | | | | |
Question 24
2.2222 out of 2.2222 points | | | Which of the following is considered an advantage/benefit of utilizing an ERP system? Answer | | | | | Selected Answer: | 1. Enables the company to utilize a single centralized database system, thus eliminating duplicate data entry. | | | | |
Question 25
0 out of 2.2222 points | | | Which of the following is TRUE? Answer | | | | | Selected Answer: | 5. VMI stands for Vertically Managed Inventory | | | | |
Question 26
2.2222 out of 2.2222 points | | | Which of the following would most likely be considered a dependent demand item? Answer | | | | | Selected Answer: | 3. Bicycle tires used to assemble a bicycle | | | | |
Question 27
2.2222 out of 2.2222 points | | | Which of the following basic production strategies used for addressing the aggregate planning problem would work best with make-to-order manufacturing firms? Answer | | | | | Selected Answer: | 1. Chase Production Strategy | | | | |
Question 28
2.2222 out of 2.2222 points | | | Companies hold a supply of inventory for all of the following reasons EXCEPT: Answer | | | | | Selected Answer: | 3. increase production change/setup costs | | | | |
Question 29
2.2222 out of 2.2222 points | | | Which of the following is not an assumption of the economic order quantity model? Answer | | | | | Selected Answer: | 1. Production and use can occur simultaneously. | | | | |
Question 30
2.2222 out of 2.2222 points | | | While ERP is a relatively new technology, it has grown rapidly since the early 1990s. Which of the following is the reason that has contributed to its rapid growth? Answer | | | |

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