OMGT Midterm || A+ GRADED.
In Op & SCM, Operations is _______ correct answers internal
In Op & SCM, Supply Chain Management is _______ correct answers external
what is operations management? correct answers the planning, scheduling, and control of the
activities that transform inputs into finished goods and services
Is manufacturing tangible or intangible? correct answers tangible
are services tangible or intangible? correct answers intangible
what is supply chain management? correct answers Active management of supply chain
activities and relationships to maximize customer value and achieve a sustainable competitive
advantage
What are some various supply chain issues? correct answers complexity, stability,
competitors, length of supply chain, flows: product, informational relational and financial
flows up and down the supply chain
what are core competencies REALLY about? correct answers creating a competitive
advantage
Forecasts are never ______ correct correct answers 100%
short-term forecasts tend to be more _______ than long term forecasts correct answers
accurate
Both product family and aggregate forecasts are more ______ than individual product
forecasts correct answers accurate
_______ _________ is used to calculate future forecasts correct answers past demand
what is the Bullwhip effect? correct answers Distortion that occurs within the distribution
channel
What are the steps in Demand Forecasting? correct answers 1. Determine the use of the
forecast (internal/external)
2. Select the items/product level to be forecasted
3. Determine the time horizon of the forecast
4. Select a forecasting model (qualitative, quantitative)
5. Gather data and assess for accuracy
6. Make the forecast
7. Monitor/validate forecast model results
How long is long-term forecasting? correct answers more than 18 months
What are the trends in OP and SCM? correct answers 1. Risk management
2. E-commerce
In Op & SCM, Operations is _______ correct answers internal
In Op & SCM, Supply Chain Management is _______ correct answers external
what is operations management? correct answers the planning, scheduling, and control of the
activities that transform inputs into finished goods and services
Is manufacturing tangible or intangible? correct answers tangible
are services tangible or intangible? correct answers intangible
what is supply chain management? correct answers Active management of supply chain
activities and relationships to maximize customer value and achieve a sustainable competitive
advantage
What are some various supply chain issues? correct answers complexity, stability,
competitors, length of supply chain, flows: product, informational relational and financial
flows up and down the supply chain
what are core competencies REALLY about? correct answers creating a competitive
advantage
Forecasts are never ______ correct correct answers 100%
short-term forecasts tend to be more _______ than long term forecasts correct answers
accurate
Both product family and aggregate forecasts are more ______ than individual product
forecasts correct answers accurate
_______ _________ is used to calculate future forecasts correct answers past demand
what is the Bullwhip effect? correct answers Distortion that occurs within the distribution
channel
What are the steps in Demand Forecasting? correct answers 1. Determine the use of the
forecast (internal/external)
2. Select the items/product level to be forecasted
3. Determine the time horizon of the forecast
4. Select a forecasting model (qualitative, quantitative)
5. Gather data and assess for accuracy
6. Make the forecast
7. Monitor/validate forecast model results
How long is long-term forecasting? correct answers more than 18 months
What are the trends in OP and SCM? correct answers 1. Risk management
2. E-commerce
