Podcast
Questions and Answers
What is the result of a lack of coordination in the supply chain?
What is the result of a lack of coordination in the supply chain?
- Increased inventory levels
- Improved forecasting of demand
- Enhanced capacity management
- Shortages or oversupply (correct)
What type of change in demand can be forecast?
What type of change in demand can be forecast?
- Cyclical demand
- Unpredictable variability
- Predictable variability (correct)
- Seasonal demand
Which of the following is an option for managing demand in the face of predictable variability?
Which of the following is an option for managing demand in the face of predictable variability?
- Implementing short-term price discounts and promotions (correct)
- Increasing inventory levels
- Subcontracting production
- Improving forecasting methods
What is the primary goal of inventory management?
What is the primary goal of inventory management?
What is the term for the management of capacity, inventory, subcontracting, and backlogs to handle predictable variability?
What is the term for the management of capacity, inventory, subcontracting, and backlogs to handle predictable variability?
What is the term for demand that is directly related to the demand of other SKUs?
What is the term for demand that is directly related to the demand of other SKUs?
What is the formula for calculating the Inventory Position?
What is the formula for calculating the Inventory Position?
What is the primary objective of the Economic Order Quantity (EOQ) model?
What is the primary objective of the Economic Order Quantity (EOQ) model?
What is the assumption of the EOQ model regarding stockouts?
What is the assumption of the EOQ model regarding stockouts?
What is the term for the extra inventory held to reduce the risk of stockouts?
What is the term for the extra inventory held to reduce the risk of stockouts?
What is the term for the frequency at which the inventory position is reviewed in a Fixed-Period System?
What is the term for the frequency at which the inventory position is reviewed in a Fixed-Period System?
What is demand forecasting primarily used for in supply chain management?
What is demand forecasting primarily used for in supply chain management?
Which of the following is a role of forecasting in production?
Which of the following is a role of forecasting in production?
What is a characteristic of long-term forecasts compared to short-term forecasts?
What is a characteristic of long-term forecasts compared to short-term forecasts?
What is a key approach to forecasting that involves adjusting mathematical models with managerial judgment?
What is a key approach to forecasting that involves adjusting mathematical models with managerial judgment?
Which of the following is NOT a role of forecasting in finance?
Which of the following is NOT a role of forecasting in finance?
What is a characteristic of aggregate forecasts compared to disaggregate forecasts?
What is a characteristic of aggregate forecasts compared to disaggregate forecasts?
