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MN 3315 - Exam 2 Review - Spring 2024 Flashcards | StudBud
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MN 3315 - Exam 2 Review - Spring 2024
MN 3315 - Exam 2 Review - Spring 2024
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Answers
1
When forecasting demand, a firm typically focuses on...
raw materials
independent demand
required components
dependent demand
2
What tool is commonly used to align internal forecasts with those of channel members?
MRP
MPS
Aggregate Production Plan
CPFR
3
Which type of economic utility do manufacturers provide to the supply chain?
place utility
form utility
information utility
time utility
4
Hershey's demand typically spikes in October. This is an example of which component of demand variability?
Random fluctuation
Seasonal Fluctuation
Trend Fluctuation
Forecast Error
5
Which of the following production strategies would a toilet paper manufacturer use?
make-to-stock (MTS)
assemble-to-order (ATO)
engineer-to-order (ETO)
build-to-order (BTO)
6
Pitcher Jim Abbott had a successful 12-year MLB career including a no-hitter despite having what disability?
Legally Blind
Dyslexia
No right hand
Deaf
7
Which of the following is a common demand management problem exemplified by this example?
Lack of coordination between departments
Failing to develop products and services that solve customers’ problems
Too rigidly focusing on forecasts
Gathering too much knowledge about consumers' problems and needs
8
Which of the following is an example of an item with dependent demand for Apple?
iPhone 15 pro
MacBook Air
AirPods Pro
A17 Pro Processors
9
Which of the following is not one of the five core principles of strategic sourcing?
Evaluate internal requirements
Focus on supplier economics
Assess total value
Periodically improve
10
The accuracy of a forecast is determined by the amount of...
error
sales
costs
profits
11
Homer worries about uploading his bank information to an e-procurement site. Which type of risk does this exemplify?
lack of standard protocols
cyber-security
system reliability
time & money investment
12
Which of the following do manufacturers typically use when planning capacity over 6 to 18 month time frame?
Rough-cut Capacity Planning
Aggregate Production Planning
Master Production Scheduling (MPS)
Materials Requirements Planning (MRP)
13
Within the supply chain, who controls the availability of the finished product?
Wholesalers
Retailers
Suppliers
Manufacturers
14
Use the information to calculate the MAPE.
975
.056
422
56%
15
Use the information to calculate the CFE.
-692
-768
557
745
16
Calculate the tracking signal for the following information.
56%
-1.82
422
-0.55
17
Why would a company choose to outsource a process or component?
to lower production costs
to improve quality control
because it has an abundance of resources
to increase visiblity and oversight
18
Which of the following screening criteria is the company using?
Capability
Quality
Sustainability
Risk
19
Use this information to calculate a 3-month weighted moving average for August. Use weights of 50%, 30%, and 20%.
605
396
555
448
20
Which of the following is a common mistake when using production KPIs?
Measuring performance of individual activities
Aligning metrics with corporate objectives
Limiting the number of metrics used to 5 or 6 per function
Using KPIs that are too narrow
21
What is the purpose of the internal consensus forecast?
Align forecasts with channel members
Ensure sufficient lead time
Adjust pricing accordingly
Building a foreacst that all functional areas agree upon and can execute
22
Use the information to calculate a simple exponential smoothing forecast for March. Use a smoothing constant of 0.7
448
632
720
693
23
What production tradeoff is Bob's Burgers priortizing?
efficiency
economies of scope
responsiveness
outsourcing
24
Which operations strategy is best when demand is large and stable?
Mass production
Smart Manufacturing
Flexible Manufacturing
Adaptive Manufacturing
25
Which of the following is not a commonly used KPI within manufacturing?
Profitability Metrics
Quality Metrics
Sales Metrics
Efficiency Metrics
26
The following is an example which type of balancing method?
Production flexibility
External Balancing Method
Inventory control
Internal Balancing Method
27
Which common forecasting method is simplest to use but doesn't consider seasonal or business cycle influences?
simple moving average
neural network modeling
weighted moving average
exponential smoothing
28
Which of the following is typically the largest component of Total Landed Cost (TLC)?
Management Costs
Purchase/Acquisition Cost
Strategic Sourcing Costs
Transaction Costs
29
Use the following information to calculate a 3-month simple moving average forecast for August.
531
469
630
622
30
Use the information to calculate the MSE.
208,962
-178,456
844
626,886
31
Which of the following is Kramerica Enterprises attempting to improve?
Purchasing
Strategic Sourcing
Holding Costs
Procurement
32
Which purchase decision type best describes a sawmill looking to acquire a new commercial pulp machine?
Materials, Repairs, Operations (MRO)
Modified Rebuy
Straight Rebuy
Capital Goods
33
Which of the following is the first step in the strategic sourcing process?
Collaborative Process Improvement
Develop Strategic Plan
Understand Spend
Implement Sourcing Strategy
34
A company specializing in flexible manufacturing is hoping to compete on the basis of economies of scale.
False
True
35
Use the following information to calculate the MAD.
-844
844
-422
422
36
In this scenario, which component is an example of a critical?
carbon fiber frame
uniquely designed reflector
cardboard box
tire tubes
