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Omis 320 Emas Exam 1 Question and answers verified to pass
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Omis 320 Emas Exam 1 Question and answers verified to pass Omis 320 Emas Exam 1 Objectives of Planning and Operations - correct answer Maximize Forecast Accuracy Minimize Inventory without stocking out Qualitative Forecasting Models - correct answer Jury of executive opinion Delphi met...

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  • November 5, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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Omis 320 Emas Exam 1
Objectives of Planning and Operations - correct answer ✔Maximize Forecast
Accuracy
Minimize Inventory without stocking out


Qualitative Forecasting Models - correct answer ✔Jury of executive opinion
Delphi method
Sales force composite
Consumer survey


jury of executive opinion - correct answer ✔senior management develop the
forecast


Delphi Method - correct answer ✔•Internal and external experts are surveyed
during several rounds
•summary of responses is sent out to all the experts & they can modify their
responses in next round
•Good for high-risk technology forecasting; large, expensive projects; or major
new product introductions


Sales Forecast Composite - correct answer ✔knows customers wants and
needs


Customer survery - correct answer ✔questionnaires- response rate including
it into a process ensures results


Quantitative Forecast Models - correct answer ✔Naïve

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