Question 1

There are no discrete _____________________ for Demand Management.

Accepted Answer

A)  Overall reporting requirements
B)  Annual financial reports
C)  Semi-annual marketing reports
D)  Quarter fiscal policiesE) C) and D)
F) A) and D)

Question 2

A forecast error can be best defined as:

Accepted Answer

A)  The error that measures the random component of demand.
B)  The error that measures discreet components of production.
C)  The error that measures a variable quantity of supply.
D)  None of the above.E) A) and C)
F) None of the above

Question 3

Let's suppose that Green Gardening Tools applies another approach to meet demand in which it builds up inventory during the off-season to keep production stable year round. What would be the advantage and the disadvantage of this approach?

Accepted Answer

A)  Smaller inventory; higher profits.
B)  Smaller, less expensive factory; fewer promotions.
C)  Smaller less expensive factory; higher inventory carrying costs.
D)  Larger profits, smaller labor force.E) None of the above
F) B) and C)

Question 4

Causal forecasting methods find the correlation between_______ and ________.

Accepted Answer

A)  Demand; environment.
B)  Supply; production.
C)  CRM; SRM.
D)  None of the above.E) All of the above
F) B) and D)

Question 5

Observed demand (O)  = ____________________+______________________.

Accepted Answer

A)  Aggregated; random.
B)  Systematic; random.
C)  Aggregated; constant.
D)  Constant; systematic.E) A) and B)
F) A) and C)

Question 6

According to the APICS dictionary, the forecast which projects a company's sales is called:

Accepted Answer

A)  An economic forecast.
B)  A technological forecast.
C)  A demand forecast.
D)  An associative model.E) B) and D)
F) All of the above

Question 7

Demand Management contains a number of key steps within the three characteristic phases of any strategic management process. Which of the following is not one of them?

Accepted Answer

A)  Preparation
B)  Analysis and Planning
C)  Implementation.
D)  Feedback and ResponseE) B) and C)
F) All of the above

Question 8

What should both companies and their supply chains be aware of about demand forecasting?

Accepted Answer

A)  That forecasts show the mirror image of what will happen in the future.
B)  That forecasts can be wrong.
C)  That forecasts diminish human efficiency.
D)  They should not be aware of demand forecasting.E) A) and B)
F) All of the above

Question 9

When faced with predictable variability, a company's goal is to respond in a manner that maximizes profitability. A firm must choose how to handle this by managing the supply using capacity, inventory, subcontracting, and backlogs and managing the demand using __________________.

Accepted Answer

A)  Short-term price and trade promotions
B)  Long-term discounts and effective marketing
C)  Short-term discounts and long-term sales promotions
D)  None of the above.E) None of the above
F) B) and C) A

Question 10

A demand-driven supply chain includes transforming the traditional supply chain into an __________________.

Accepted Answer

A)  Integrated multi-tier supply network
B)  Integrated single supply network
C)  Integrated network circuit
D)  All of the above.E) B) and C)
F) None of the above

Question 11

____________ trade on the assumption of awareness of the costs.

Accepted Answer

A)  Education strategies
B)  Labor strategies
C)  Costs strategies
D)  None of the above.E) A) and B)
F) A) and D)

Question 12

A key characteristic of a demand-driven supply chain is that the product movements are driven by _____________.

Accepted Answer

A)  Potential demand
B)  Actual demand
C)  Consumption
D)  All of the above.E) C) and D)
F) B) and D)

Question 13

Demand management activities in several global supply chains consist of which of the following activities?

Accepted Answer

A)  Demand management.
B)  Demand planning.
C)  Sales forecasting management.
D)  All of the above.E) All of the above
F) B) and C)

Question 14

Apart from seasonal factors, ______ factors can also cause large declines in sales.

Accepted Answer

A)  Operational
B)  Non-seasonal
C)  Semi-annual
D)  Co-operationalE) B) and C)
F) C) and D)

Question 15

The impact of Demand Management strategies on the client's expenditure must be considered. The effect will vary with the_______ of the consumer and the ________of their use of services.

Accepted Answer

A)  Wealth and density
B)  Margin and call
C)  Demand and supply
D)  None of the above.E) B) and D)
F) B) and C) A

Question 16

Demand Management is likely to become a key element of reform in the ______________and management process.

Accepted Answer

A)  Resource planning
B)  Strategy planning
C)  Source investigation
D)  All of the above.E) None of the above
F) A) and B)

Question 17

________is the process in which customers move up future purchases to the present.

Accepted Answer

A)  Forward pushing
B)  Forward buying
C)  Forward selling
D)  Accelerated promotionsE) C) and D)
F) A) and D) B

Question 18

An aspect of demand management is ______________.

Accepted Answer

A)  CRM
B)  SRM
C)  SCM
D)  ISCME) A) and C)
F) None of the above

Question 19

________ forecasts are usually less accurate than short-term forecasts.

Accepted Answer

A)  Long-term
B)  Causal
C)  Qualitative
D)  QuantitativeE) A) and C)
F) A) and B)

Question 20

The source for all strategic and planning decisions in a supply chain is called: _______.

Accepted Answer

A)  Forecasting of demand
B)  Forecasting of supply
C)  Forecasting of Errors
D)  Logistics PredictionsE) A) and B)
F) None of the above

Exam 3: Demand

There are no discrete _____________________ for Demand Management.

Correct AnswerverifiedShow Answer

A forecast error can be best defined as:

Correct AnswerverifiedShow Answer

Let's suppose that Green Gardening Tools applies another approach to meet demand in which it builds up inventory during the off-season to keep production stable year round. What would be the advantage and the disadvantage of this approach?

Correct AnswerverifiedShow Answer

Causal forecasting methods find the correlation between_______ and ________.

Correct AnswerverifiedShow Answer

Observed demand (O) = ____________________+______________________.

Correct AnswerverifiedShow Answer

According to the APICS dictionary, the forecast which projects a company's sales is called:

Correct AnswerverifiedShow Answer

Demand Management contains a number of key steps within the three characteristic phases of any strategic management process. Which of the following is not one of them?

Correct AnswerverifiedShow Answer

What should both companies and their supply chains be aware of about demand forecasting?

Correct AnswerverifiedShow Answer

When faced with predictable variability, a company's goal is to respond in a manner that maximizes profitability. A firm must choose how to handle this by managing the supply using capacity, inventory, subcontracting, and backlogs and managing the demand using __________________.

Correct AnswerverifiedA

A demand-driven supply chain includes transforming the traditional supply chain into an __________________.

Correct AnswerverifiedShow Answer

____________ trade on the assumption of awareness of the costs.

Correct AnswerverifiedShow Answer

A key characteristic of a demand-driven supply chain is that the product movements are driven by _____________.

Correct AnswerverifiedShow Answer

Demand management activities in several global supply chains consist of which of the following activities?

Correct AnswerverifiedShow Answer

Apart from seasonal factors, ______ factors can also cause large declines in sales.

Correct AnswerverifiedShow Answer

The impact of Demand Management strategies on the client's expenditure must be considered. The effect will vary with the_______ of the consumer and the ________of their use of services.

Correct AnswerverifiedA

Demand Management is likely to become a key element of reform in the ______________and management process.

Correct AnswerverifiedShow Answer

________is the process in which customers move up future purchases to the present.

Correct AnswerverifiedB

An aspect of demand management is ______________.

Correct AnswerverifiedShow Answer

________ forecasts are usually less accurate than short-term forecasts.

Correct AnswerverifiedShow Answer

The source for all strategic and planning decisions in a supply chain is called: _______.

Correct AnswerverifiedShow Answer

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Causal forecasting methods find the correlation between_ and __.

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Observed demand (O) = +__.

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A

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The impact of Demand Management strategies on the client's expenditure must be considered. The effect will vary with the_ of the consumer and the __of their use of services.

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A

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B

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