SCM 3301 Exam 1 with Accurate
Solutions
Adjusted Exponential Smoothing Model - ANS--Exponential Smoothing Calculation that
considers trending
-Contains an "Un-adjusted Forecast" component (alpha)
-Contains a "Trend Adjustment" component (beta)
Bottom Up Planning - ANS-An approach to S&OP that is used in which forecasts for
each set of products or services combine to drive the planning process.
BUY/SOURCE - ANS-Activities which include identifying, developing, coordinating
suppliers and the delivery of incoming goods and services.
Causal Models - ANS-Demand is predicted by observing environmental factors such as
economic indicators. (linear, multiple regression)
Chase Production Plan - ANS-A S&OP plan in which production is changed in each
time period to match the sales forecast.
Collaborative Planning, Forecasting and Replenishment (CPFR) - ANS-A set of
business processes, backed up by information technology, in which supply chain
partners agree to mutual business objectives and measures, develop joint sales and
operational plans, and collaborate to generate and update sales forecasts and
replenishment plans.
Computer-Based forecast packages - ANS-Are used to develop, evaluate and change
forecasting models as needed.
Cost - ANS-Labor, Material, Engineering, and Quality related costs
DELIVER - ANS-Activities which store and transport goods to a new destination.
Dependent Variable - ANS-The variable that is assumed to be "caused"
Detailed Planning and Control - ANS-Limited ability to adjust capacity, lowest risk. (day
to day, hour to hour)
Downstream - ANS-Activities or firms positioned later in the Supply Chain (after the
focal firm)
, Electronic Commerce - ANS-The use of computer and telecommunication technologies
to conduct business via electronic transfer of data and documents.
Exponential Smoothing Model - ANS--Weighted smoothing model with greater weight
on most recent data.
-Requires very little stored data (only the past period forecast and demand) and easy to
automate.
Fexibility - ANS-Volume
Changeover
Mix
Focal Firm - ANS-The organization with which one identifies when discussing Supply
Chain Management.
Forecast - ANS-An estimate of the future level or some variable
Increasing Competition and Globalization - ANS-The Second Major trend
Independent Variable - ANS-The variable that is assumed to be "causing"
Infrastructural Decision categories - ANS--Organization
-Sourcing/purchasing
-Planning and Control
-Business process and Quality management
-Product and Service development
Level Production Plan - ANS-A S&OP plan in which production is held constant and
inventory is used to absorb differences between production and the sales forecast.
Long-range Forecasts - ANS-New product planning, facility construction, technology
Rolling Planning Horizon - ANS-A planning approach in which an organization updates
its sales and operations plan regularly, such as on a monthly
or quarterly basis.
Sales and Operations Planning (S&OP) - ANS-A process to develop tactical plans by
integrating marketing plans for new and existing products with the management of the
supply chain.
Short-range Forecasts - ANS-Job scheduling, worker assignments, inventory stocking
Stage 1 - ANS-Internally Neutral: Not linked to business strategy
Solutions
Adjusted Exponential Smoothing Model - ANS--Exponential Smoothing Calculation that
considers trending
-Contains an "Un-adjusted Forecast" component (alpha)
-Contains a "Trend Adjustment" component (beta)
Bottom Up Planning - ANS-An approach to S&OP that is used in which forecasts for
each set of products or services combine to drive the planning process.
BUY/SOURCE - ANS-Activities which include identifying, developing, coordinating
suppliers and the delivery of incoming goods and services.
Causal Models - ANS-Demand is predicted by observing environmental factors such as
economic indicators. (linear, multiple regression)
Chase Production Plan - ANS-A S&OP plan in which production is changed in each
time period to match the sales forecast.
Collaborative Planning, Forecasting and Replenishment (CPFR) - ANS-A set of
business processes, backed up by information technology, in which supply chain
partners agree to mutual business objectives and measures, develop joint sales and
operational plans, and collaborate to generate and update sales forecasts and
replenishment plans.
Computer-Based forecast packages - ANS-Are used to develop, evaluate and change
forecasting models as needed.
Cost - ANS-Labor, Material, Engineering, and Quality related costs
DELIVER - ANS-Activities which store and transport goods to a new destination.
Dependent Variable - ANS-The variable that is assumed to be "caused"
Detailed Planning and Control - ANS-Limited ability to adjust capacity, lowest risk. (day
to day, hour to hour)
Downstream - ANS-Activities or firms positioned later in the Supply Chain (after the
focal firm)
, Electronic Commerce - ANS-The use of computer and telecommunication technologies
to conduct business via electronic transfer of data and documents.
Exponential Smoothing Model - ANS--Weighted smoothing model with greater weight
on most recent data.
-Requires very little stored data (only the past period forecast and demand) and easy to
automate.
Fexibility - ANS-Volume
Changeover
Mix
Focal Firm - ANS-The organization with which one identifies when discussing Supply
Chain Management.
Forecast - ANS-An estimate of the future level or some variable
Increasing Competition and Globalization - ANS-The Second Major trend
Independent Variable - ANS-The variable that is assumed to be "causing"
Infrastructural Decision categories - ANS--Organization
-Sourcing/purchasing
-Planning and Control
-Business process and Quality management
-Product and Service development
Level Production Plan - ANS-A S&OP plan in which production is held constant and
inventory is used to absorb differences between production and the sales forecast.
Long-range Forecasts - ANS-New product planning, facility construction, technology
Rolling Planning Horizon - ANS-A planning approach in which an organization updates
its sales and operations plan regularly, such as on a monthly
or quarterly basis.
Sales and Operations Planning (S&OP) - ANS-A process to develop tactical plans by
integrating marketing plans for new and existing products with the management of the
supply chain.
Short-range Forecasts - ANS-Job scheduling, worker assignments, inventory stocking
Stage 1 - ANS-Internally Neutral: Not linked to business strategy
