chapter 4 study plan- ISDS – Flashcards

Which of the following statements is NOT true regarding? forecasting? A. A forecast is usually classified by the future time horizon that it covers. B. Forecasting may involve taking historical data and projecting them into the future with a mathematical model. C. Forecasting is exclusively an objective prediction. D. Forecasting is the art and science of predicting future events.

The forecasting time horizon that would typically be easiest to predict for would be the A. long range. B. short range. C. intermediate range. D. medium range.

A forecast that addresses the business cycle by predicting planning indicators is A. an environmental forecast. B. a technological forecast. C. an economic forecast. D. a demand forecast.

A forecast that projects a? company's sales is A. an economic forecast. B. a demand forecast. C. an environmental forecast. D. a technological forecast

CPFR is A. ?collaborative, partner,? forecasting, and replenishment. B. ?complete, planning,? forecasting, and replenishment. C. ?complete, partner,? forecasting, and replenishment. D. ?collaborative, planning,? forecasting, and replenishment.

The goal of CPFR is to A. determine which model needs to be used to predict future events. B. create good relations with suppliers. C. create significantly more accurate information that can power the supply chain. D. ensure product innovation.

Which of the following statements is NOT? true? A. When capacity is? inadequate, customers can be lost. B. When capacity is? inadequate, market share can shrink. C. When excess capacity? exists, cost can increase. D. When excess capacity? exists, cost can decrease.

Which of the following is the FIRST step in a forecasting? system? A. Select the items to be forecasted. B. Select the forecast? model(s). C. Determine the time horizon of the forecast. D. Determine the use of the forecast.

Which of the following is the FINAL step in a forecasting? system? A. Validate and implement the results. B. Select the forecast? model(s). C. Make the forecast. D. Gather the data needed to make the forecast.

Which of the following is a reality each company faces regarding its forecasting? system? A. Most forecasting techniques assume there is no underlying stability in the system. B. After automating their predictions using computerized forecasting? software, firms closely monitor only the product items whose demand is stable. C. Product family forecast are less accurate than individual product forecasts. D. Outside factors that we cannot predict or control often impact the forecast.

Which of the following forecasting steps comes directly after determining the time horizon of the? forecast? A. Gather the data. B. Select the items to be forecasted. C. Make the forecast. D. Select the forecasting? model(s).

Which of the following is a quantitative forecasting? method? A. sales force composite B. market survey C. exponential smoothing D. jury of executive opinion

Which of the following is a qualitative forecasting? method? A. Delphi method B. linear regression C. trend projection D. naive approach

Which forecasting model is based upon? salespersons' estimates of expected? sales? A. jury of executive opinion B. market survey C. sales force composite D. Delphi method

Which of the following is NOT a? time-series model? A. linear regression B. moving averages C. exponential smoothing D. naive approach

A tracking signal A. is a measurement of how well a forecast is predicting actual values. B. that is negative indicates that demand is greater than the forecast. C. cannot be used with exponential smoothing. D. is computed as the mean absolute deviation? (MAD) divided by the running sum of the forecast errors? (RSFE).

A forecasting technique consistently produces a negative tracking signal. This means that A. the MAPE will also consistently be negative. B. the forecasting technique consistently? under-predicts. C. the MSE will also consistently be negative. D. the forecasting technique consistently? over-predicts.

Forecasting that tries a variety of computer models and selects the best one for a particular application is referred as A. adaptive smoothing. B. focus forecasting. C. trend projection. D. jury of executive opinion.

Which one of the following statements is NOT true about the forecasting in the service? sector? A. Hourly demand forecasts may be necessary. B. Forecasting in the service sector presents some unusual challenges. C. Detailed forecasts of demand are not needed. D. Demand patterns are often different from those in? non-service sectors.