WGU C720 COMPLETE OA PREP STUDY
GUIDE WITH QUESTIONS AND CORRECT
VERIFIED ANSWERS GRADED A+ || 100%
GUARANTEED PASS NEWEST VERSION
Independent demand - Answer Items usually include finished products, such as
the completed tricycle or replacement parts sold to customers.
Dependent demand - Answer Usually demand for an item that is generated by a
company's production process.
Bill of materials (BOM) - Answer Lists the materials needed and the quantities
of each.
Qualitative Methods - Answer Forecasting techniques are subjective, based on
the opinion and judgment of consumers and experts. They are appropriate when
past data are not available. Most suitable for new products or products without
historical data.
Buildup method, Survey method, Test markets, Panel of experts
Buildup Method - Answer Starting at the bottom of the organization and
working to the top to solicit info to determine forecast
Survey Method - Answer Using questionnaires, phone interviews, or the
internet to solicit info to determine forecast
,Test Markets - Answer Conducting a trial run with the product in a market
region to determine forecast
Panel of Experts (Delphi Technique) - Answer Soliciting info from people who
are knowledgeable about the subject being considered to determine the forecast
Quantitative Methods (time series) - Answer Forecasting technique using
historical data to predict future. They are appropriate to use when past numerical
data is available and when it is reasonable to assume that some of the patterns in
the data are expected to continue into the future.
Includes simple and weighted moving average.
Simple Moving Average - Answer Applying a simple average based on a
specific time period
Weighted Moving Average - Answer Applying a simple average with based on
a specific time period with assigned weights to each
Medium-range Forecasts (operations planning) - Answer Forecasts and
operations planning that typically extend 6 to 18 months into the future
Long-range operations planning - Answer Planning for facility location,
technologies, and capacity that typically extends 5 to 10 years
Aggregate planning - Answer Combining of individual end items into groups or
families of parts for planning purposes.
, The master schedule or master production schedule (MPS) - Answer Based on
the "aggregated" plan. The master production schedule "disaggregates the
aggregate plan" because it is a specific statement of exactly what will be produced
and a specific date for production.
The master schedule planning horizon is as long as the cumulative lead time of the
product or product with the longest lead time. The MPS is usually between 12 and
16 weeks.
MPS Inputs - Answer o Demand Forecast
o Inventory Level
o Customer Orders
o Production Capacity
o Inventory/Production Costs
Time fences - Answer Boundaries between periods in the planning horizon.
Time-bucket - Answer Period of time, usually one week, in which demand and
requirements are grouped for master scheduling and material requirements
planning.
Lead time - Answer Amount of time it takes to plan, produce, and deliver a
product
Material Requirements Planning (MRP) - Answer Acomputerized information
system used for planning and managing inventory for dependent demand items.
Inputs include: Master schedule file, Bill of materials file, Inventory file.
GUIDE WITH QUESTIONS AND CORRECT
VERIFIED ANSWERS GRADED A+ || 100%
GUARANTEED PASS NEWEST VERSION
Independent demand - Answer Items usually include finished products, such as
the completed tricycle or replacement parts sold to customers.
Dependent demand - Answer Usually demand for an item that is generated by a
company's production process.
Bill of materials (BOM) - Answer Lists the materials needed and the quantities
of each.
Qualitative Methods - Answer Forecasting techniques are subjective, based on
the opinion and judgment of consumers and experts. They are appropriate when
past data are not available. Most suitable for new products or products without
historical data.
Buildup method, Survey method, Test markets, Panel of experts
Buildup Method - Answer Starting at the bottom of the organization and
working to the top to solicit info to determine forecast
Survey Method - Answer Using questionnaires, phone interviews, or the
internet to solicit info to determine forecast
,Test Markets - Answer Conducting a trial run with the product in a market
region to determine forecast
Panel of Experts (Delphi Technique) - Answer Soliciting info from people who
are knowledgeable about the subject being considered to determine the forecast
Quantitative Methods (time series) - Answer Forecasting technique using
historical data to predict future. They are appropriate to use when past numerical
data is available and when it is reasonable to assume that some of the patterns in
the data are expected to continue into the future.
Includes simple and weighted moving average.
Simple Moving Average - Answer Applying a simple average based on a
specific time period
Weighted Moving Average - Answer Applying a simple average with based on
a specific time period with assigned weights to each
Medium-range Forecasts (operations planning) - Answer Forecasts and
operations planning that typically extend 6 to 18 months into the future
Long-range operations planning - Answer Planning for facility location,
technologies, and capacity that typically extends 5 to 10 years
Aggregate planning - Answer Combining of individual end items into groups or
families of parts for planning purposes.
, The master schedule or master production schedule (MPS) - Answer Based on
the "aggregated" plan. The master production schedule "disaggregates the
aggregate plan" because it is a specific statement of exactly what will be produced
and a specific date for production.
The master schedule planning horizon is as long as the cumulative lead time of the
product or product with the longest lead time. The MPS is usually between 12 and
16 weeks.
MPS Inputs - Answer o Demand Forecast
o Inventory Level
o Customer Orders
o Production Capacity
o Inventory/Production Costs
Time fences - Answer Boundaries between periods in the planning horizon.
Time-bucket - Answer Period of time, usually one week, in which demand and
requirements are grouped for master scheduling and material requirements
planning.
Lead time - Answer Amount of time it takes to plan, produce, and deliver a
product
Material Requirements Planning (MRP) - Answer Acomputerized information
system used for planning and managing inventory for dependent demand items.
Inputs include: Master schedule file, Bill of materials file, Inventory file.
