Jack Poliviou
Intro to Supply Chain
10/2/23
Quiz #1
1)
The Qualitative forecasting method is based on opinion & intuition.
a.
TRUE
2)
Forecasts are more accurate the farther out in the future that you forecast.
b.
FALSE
3)
Cause-and-Effect Models can have multiple independent variables.
a.
TRUE
4)
Independent Demand is demand for an item that is directly related to other items or
finished products, such as a component or material used in making a finished product.
b.
FALSE
5)
Collaborative Planning, Forecasting, and Replenishment is the process of combining
statistical forecasting techniques and judgment to construct demand estimates for
products or services.
c.
FALSE
6)
Which of the following is NOT a type of qualitative forecasting?
d. Naïve method
7)
What does the acronym CPFR represent?
b. Collaborative Planning, Forecasting, & Replenishment
8)
In the absence of any other information or visibility, individual supply chain participants
can begin second-guessing what is happening with ordering patterns, and potentially
start over-reacting. This is known as?
b. The Bullwhip Effect
9)
When creating a quantitative forecast, data should be evaluated to detect for a
repeating pattern of demand from year to year, or over some other time interval, with
some periods of considerably higher demand than others. This is known as a?
c. Seasonal Variation
10) _______ measures the size of the forecast error in units.
It is calculated as the average
of the unsigned errors over a specified period of time.
d. Mean Absolute Deviation
