1|Page
OPMA 3306 FINAL NEWEST ACTUAL EXAM WITH
COMPLETE QUESTIONS AND ANSWERS//
VERIFIED//GRADED A+
This occurs when a company seeks to match what a competitor is doing
by while maintaining its existing competitive position.
......ANSWER......Straddling
A criterion that differentiates the products of services of one firm from
those of another ......ANSWER......order winner
a screening showing the activities that support a company's strategy
......ANSWER......order-qualifier
A measure calculated by taking the ratio of output to input
......ANSWER......Productivity
Strategic forecasts ......ANSWER......Medium and long term forecast
used to make decisions related to strategy and estimating aggregate
demand.
Tactical forecast ......ANSWER......Short-term forecast used as input for
making day-to-day decisions related to meeting demand.
Time series analysis ......ANSWER......a type of forecast in which data
relating to past demand are used to predict the future demand.
pg. 1
,2|Page
Moving average ......ANSWER......a forecast based on average past
demand
Weighted moving average ......ANSWER......A forecast made with past
data where more recent data are giving more significance than older
data.
Exponential smoothing ......ANSWER......A time series forecasting
technique in which each increment of past demand data is decreased
by (1-a)
Smoothing constant alpha (α) ......ANSWER......The parameter in the
exponential smoothing equation that controls the seed of reaction to
differences between forecasts and actual demand.
Smoothing constant delta (δ) ......ANSWER......An additional parameter
used in an exponential smoothing equation that includes an adjustment
for trend
Linear regression forecast ......ANSWER......A forecast technique that
assumes that past data and future projections fall around a straight line.
pg. 2
, 3|Page
Decomposition ......ANSWER......The process of identifying and
separating time series data into fundamental components such as trend
and seasonality
Forecast error ......ANSWER......The difference between actual demand
and what was forecast
Mean absolute deviation (MAD) ......ANSWER......The average forecast
error using absolute values of the error of each fast forecast.
Mean absolute percent error (MAPE) ......ANSWER......The mean
absolute deviation divided by average demand; the average error
expressed as a percentage of demand.
Tracking signal ......ANSWER......A measure that indicates whether the
forecast average is keeping pace with genuine upward or downward
changes in demand.
causal relationship forecasting ......ANSWER......forecast using
independent variables other than time to predict future demand.
Collaborative Planning, Forecasting, and Replenishment (CPFR)
......ANSWER......An internet too to coordinate forecasting, production,
and purchasing in a firm's supply chain.
pg. 3
OPMA 3306 FINAL NEWEST ACTUAL EXAM WITH
COMPLETE QUESTIONS AND ANSWERS//
VERIFIED//GRADED A+
This occurs when a company seeks to match what a competitor is doing
by while maintaining its existing competitive position.
......ANSWER......Straddling
A criterion that differentiates the products of services of one firm from
those of another ......ANSWER......order winner
a screening showing the activities that support a company's strategy
......ANSWER......order-qualifier
A measure calculated by taking the ratio of output to input
......ANSWER......Productivity
Strategic forecasts ......ANSWER......Medium and long term forecast
used to make decisions related to strategy and estimating aggregate
demand.
Tactical forecast ......ANSWER......Short-term forecast used as input for
making day-to-day decisions related to meeting demand.
Time series analysis ......ANSWER......a type of forecast in which data
relating to past demand are used to predict the future demand.
pg. 1
,2|Page
Moving average ......ANSWER......a forecast based on average past
demand
Weighted moving average ......ANSWER......A forecast made with past
data where more recent data are giving more significance than older
data.
Exponential smoothing ......ANSWER......A time series forecasting
technique in which each increment of past demand data is decreased
by (1-a)
Smoothing constant alpha (α) ......ANSWER......The parameter in the
exponential smoothing equation that controls the seed of reaction to
differences between forecasts and actual demand.
Smoothing constant delta (δ) ......ANSWER......An additional parameter
used in an exponential smoothing equation that includes an adjustment
for trend
Linear regression forecast ......ANSWER......A forecast technique that
assumes that past data and future projections fall around a straight line.
pg. 2
, 3|Page
Decomposition ......ANSWER......The process of identifying and
separating time series data into fundamental components such as trend
and seasonality
Forecast error ......ANSWER......The difference between actual demand
and what was forecast
Mean absolute deviation (MAD) ......ANSWER......The average forecast
error using absolute values of the error of each fast forecast.
Mean absolute percent error (MAPE) ......ANSWER......The mean
absolute deviation divided by average demand; the average error
expressed as a percentage of demand.
Tracking signal ......ANSWER......A measure that indicates whether the
forecast average is keeping pace with genuine upward or downward
changes in demand.
causal relationship forecasting ......ANSWER......forecast using
independent variables other than time to predict future demand.
Collaborative Planning, Forecasting, and Replenishment (CPFR)
......ANSWER......An internet too to coordinate forecasting, production,
and purchasing in a firm's supply chain.
pg. 3
