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    Demand Forecasting Quiz

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    Jawwad Khan
    Demand forecasting forms the basis of supply chain planning. All supply chain processes are performed in response to anticipated customer demand. Forecasts are estimates of future demand that are used to make supply chain decisions. Forecasts are always inaccurate to some degree and should include a measure of forecast error. Collaborative forecasting across a supply chain can improve forecast accuracy by reducing mismatches between supply and demand.

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    Demand Forecasting Quiz

    Uploaded by

    Jawwad Khan
    188 views8 pages
    Demand forecasting forms the basis of supply chain planning. All supply chain processes are performed in response to anticipated customer demand. Forecasts are estimates of future demand that are used to make supply chain decisions. Forecasts are always inaccurate to some degree and should include a measure of forecast error. Collaborative forecasting across a supply chain can improve forecast accuracy by reducing mismatches between supply and demand.

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    SUPPLY CHAIN DEMAND FORCASTING QUIZ

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    Demand forecasting forms the basis of supply chain planning. All supply chain processes are performed in response to anticipated customer demand. Forecasts are estimates of future demand that are used to make supply chain decisions. Forecasts are always inaccurate to some degree and should include a measure of forecast error. Collaborative forecasting across a supply chain can improve forecast accuracy by reducing mismatches between supply and demand.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    188 views8 pages

    Demand Forecasting Quiz

    Uploaded by

    Jawwad Khan
    Demand forecasting forms the basis of supply chain planning. All supply chain processes are performed in response to anticipated customer demand. Forecasts are estimates of future demand that are used to make supply chain decisions. Forecasts are always inaccurate to some degree and should include a measure of forecast error. Collaborative forecasting across a supply chain can improve forecast accuracy by reducing mismatches between supply and demand.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 8

    demand forecasting

    ____ forecasts form the basis of all supply chain planning.

    a.

    Demand

    b.

    Dollar

    c.

    Consumer

    d.

    Weather

    All ____ processes are performed in response to customer demand.

    a.

    Forced

    b.

    Push

    c.

    Anticipated

    d.

    Pull
    All supply chain decisions made before demand has materialized are made to
    a_____.

    a.

    Prediction

    b.

    Judgement

    c.

    Choice

    d.

    Forecast

    Long-term forecasts are usually less ____than short-term forecasts; that is, long
    term forecasts have a larger standard deviation of error relative to the mean than
    short-term forecasts.

    a.

    100%

    b.

    accurate

    c.

    inaccurate

    d.

    Good
    Fashion goods and many high-tech products are examples of items that are
    difficult to____. In both instances, an estimate of forecast error is essential when
    designing the supply chain and planning its response.

    a.

    Judge

    b.

    Forecast

    c.

    Choose

    d.

    Predict

    Forecasts are always ____and should thus include both the expected value of the
    forecast and a measure of forecast error.

    a.

    Good

    b.

    inaccurate

    c.

    100%

    d.

    accurate
    Aggregate forecasts are usually more ______than disaggregate forecasts, as they
    tend to have a smaller standard deviation of error relative to the mean.

    a.

    inaccurate

    b.

    Good

    c.

    100%

    d.

    accurate

    All ____processes in the supply chain are performed in anticipation of customer


    demand,

    a.

    Pull

    b.

    Anticipated

    c.

    Forced

    d.

    Push
    ____ processes, a manager must plan the level of available capacity and
    inventory, but not the actual amount to be executed. In both (push and Pull)
    instances, the first step a manager must take is to forecast what customer
    demand will be.

    a.

    Push

    b.

    Forced

    c.

    Anticipated

    d.

    Pull

    Mature products with stable demand, such as milk or paper towels, are usually
    ___ to forecast.

    a.

    impossible

    b.

    cannot

    c.

    difficult

    d.

    easiest
    For ____ processes, a manager must plan the level of activity, be it production,
    transportation, or any other planned activity.

    a.

    Anticipated

    b.

    Forced

    c.

    Push

    d.

    Pull

    Forecasting and the accompanying managerial decisions are extremely difficult


    when either the supply of raw materials or the demand for the finished product is
    highly____.

    a.

    Unpredictable

    b.

    Known

    c.

    Predictable

    d.

    Unknown
    Leaders in many supply chains, from electronics manufacturers to packaged-
    goods retailers, have improved their ability to match supply and demand by
    moving toward ____ forecasting.

    a.

    Matched

    b.

    Similar

    c.

    Collaborative

    d.

    Well Designed

    In general, the farther up the supply chain a company is (or the farther it is from
    the consumer), the greater the distortion of information it receives. Collaborative
    forecasting based on sales to the end customer helps upstream enterprises
    reduce forecast error.

    a.

    Well Designed

    b.

    Matched

    c.

    Collaborative

    d.

    Similar
    When each stage in the supply chain makes its own separate forecast, these
    forecasts are often very different. The result is a mismatch between supply and
    demand. When all stages of a supply chain work together to produce a
    ______forecast, however, the forecast tends to be much more accurate.

    a.

    Similar

    b.

    Matched

    c.

    Collaborative

    d.

    Well Designed

    A Home Depot store selling paint orders the base paint and dyes in ______of
    customer orders, whereas it performs final mixing of the paint in response to
    customer orders.

    a.

    Judgement

    b.

    prediction

    c.

    forecasting

    d.

    anticipation

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