Chapter 9 Study Plan – Flashcards

​"An estimate of the future value of some​ variable" is the definition of A. capacity. B. procurement. C. a forecast. D. logistics.

Refrigerant​ R-12 was to be phased out as manufacturers switched systems to the environmentally friendly but more expensive GHG. Refrigeration repairmen consulted their forecasting models and unanimously concluded that they should stockpile​ R-12 while it was still affordable. These forecasting models could be classified as A. supply forecasts. B. ​market-level demand forecasts. C. price forecasts. D. firm-level demand forecasts.

Which of the following statements about forecasts is​ true? A. Forecasts for the near term tend to be more accurate. B. Forecasts can be substituted for calculated values. C. Forecasts for individual items are more accurate than for groups of products. D. Forecasts are almost always right.

Which of the following statements about forecasts is​ true? A. Forecasts for the long term tend to be more accurate than for the near term. B. Forecasts are almost always wrong. C. Forecasts for individual items are more accurate than for groups of products. D. Forecasts can be substituted for calculated values.

Which of the following statements about forecasts is​ true? A. Forecasts for groups of products tend to be more accurate. B. Forecasts are almost always right. C. Forecasts can be substituted for calculated values. D. Forecasts for the long term tend to be more accurate than for near term.

Which of the following statements about forecasts is​ true? A. Forecasts for individual items are more accurate than for groups of products. B. Forecasts for the long term tend to be more accurate than for near term. C. Forecasts are no substitute for calculated values. D. Forecasts are almost always right.

Every week a bakery forecasts demand for each of the 15 varieties of cookies they produce. These forecasts will probably be more accurate than a single forecast for​ "cookies" (all varieties lumped​ together). A. True B. False

The situation is vague and little data​ exists, as in the case of new products or technologies. In this​ case, which of the following forecasting approach is​ used? A. time series forecast B. qualitative method C. linear regression forecast D. quantitative method

The situation is stable and historical data​ exists, as in the case of mature products or technologies. In this​ case, which of the following forecasting approach is​ used? A. quantitative method B. panel consensus C. ​build-up D. qualitative method

Structured questionnaires submitted to potential​ customers, often to gauge potential​ demand, are A. an important component of the life cycle analogy method. B. panel consensus forecasts. C. build-up forecasts. D. market surveys.

A qualitative forecasting method which utilizes structured questionnaires submitted to potential customers soliciting opinions about potential products to estimate likely demand is A. panel consensus. B. Delphi. C. ​build-up. D. market surveys.

One qualitative forecasting method bases the forecast for a new product or service on the actual sales history of a similar product or service. An example is forecasting demand for the newest model of iPod by using the demand history from the previous model of iPod. This method is A. build-up forecasting. B. panel consensus forecasting. C. life cycle analogy. D. Delphi.

A qualitative forecasting method which utilizes individuals familiar with specific market​ segments, has them estimate the demand within these​ segments, and adds the forecasts together to get an overall forecast is A. ​build-up forecasting. B. Delphi. C. panel consensus forecasting. D. market surveys.

A qualitative forecasting method which brings experts together to jointly discuss and develop forecasts is A. Delphi. B. panel consensus forecasting. C. build-up forecasting. D. market surveys.

One qualitative forecasting method uses experts working individually. The individual forecasts are shared among the​ group, after which each participant is allowed to modify his or her forecast based on the shared information. This method is A. Delphi. B. life cycle analogy. C. build-up forecasting. D. panel consensus forecasting.

Your employer is developing a breakthrough product under a veil of secrecy. This product is unlike anything currently available and also different from your​ employer's existing product line. You have been tasked with developing a forecast. A good choice of technique would be A. exponential smoothing. B. a weighted moving average. C. the life cycle analogy method. D. multiple regression.

​"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" is the definition of A. collaborative​ planning, forecasting, and replenishment​ (CPFR). B. tracking signal. C. causal forecasting model. D. multiple regression.

Collaborative​ planning, forecasting, and replenishment systems perform many necessary supply chain processes. Which of the following typically does NOT fall under the scope of a CPFR​ system? A. development of joint sales and operations plans B. development of demand forecasts C. development of a replenishment plan D. development of a layout and process choice

Which of these can NOT be the first value for a tracking​ signal? A. −1. B. 1. C. 0. D. 10.