DUMPS
BASE
EXAM DUMPS
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L4M7
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Whole-life Assets Management
,1.XYZ Ltd organises a meeting in order to decide on the safety stock level of a
strategic material which is used in XYZ latest product - DMD. To do this, they must
forecast the future demand for this new product. In the meeting, external consultants
are invited to join with cross-functional team. Each person of the group anonymously
replies to questionnaires and subsequently receives feedback in the form of a
statistical representation of the "group response," after which the process repeats
itself. The goal is to reduce the range of responses and arrive at something closer to
expert consensus. XYZ Ltd is using which forecasting method?
A. Objective forecasting technique
B. Delphi method
C. Holt-Winters seasonal method
D. Time series analysis
Answer: B
ly
th
Explanation:
oo
Delphi method was developed in the 1950s, originally to forecast the impact of
m
S
technology on warfare. The method entails a group of experts who anonymously reply
m
xa
to questionnaires and subsequently receive feedback in the form of a statistical
E
r
representation of the "group response," after which the process repeats itself. The
ou
Y
goal is to reduce the range of responses and arrive at something closer to expert
s
as
consensus. The Delphi Method has been widely adopted and is still in use today.
-P
Delphi method is a subjective forecasting technique Holt-Winters forecasting is a way
)
03
9.
to model and predict the behavior of a sequence of values over time?a time series.
(V
Holt-Winters is one of the most popular forecasting techniques for time series. It’s
ps
um
decades old, but it’s still ubiquitous in many applications, including monitoring, where
D
it’s used for purposes such as anomaly detection and capacity planning.
m
xa
Time series analysis is a statistical technique that deals with time series data, or trend
E
7
analysis. Time series data means that data is in a series of particular time periods or
M
L4
intervals.
S
IP
Objective forecasting approaches are quantitative in nature and lend themselves well
C
h
to an abundance of data. There are three categories of objective forecasting methods:
it
w
time series, causal/econometric, and artificial intelligence.
e
r
pa
LO 2, AC 2.3
re
P
2.XYZ Ltd has been adopting MRP system for years. The system helps the company
improve efficiency greatly and generates huge cost-savings. However, MRP system is
only limited to production process
management and XYZ management team would like to have better insights into re-
sources required across the organisation as a whole.
Which software system would help XYZ management team achieve the above
objective?
A. MRP II
B. MPS
, C. ERP
D. P2P
Answer: C
Explanation:
Enterprise resource planning (ERP) is the integrated management of main business
processes, often in real time and mediated by software and technology. ERP provides
an integrated and continuously updated view of core business processes using
common databases maintained by a data-base management system. ERP systems
track business resources?cash, raw materials, production capacity?and the status of
business commitments: orders, purchase orders, and payroll. The applications that
make up the system share data across various departments (manufacturing,
purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information
flow between all business functions and manages connections to outside
ly
th
stakeholders.
oo
Manufacturing resource planning (MRP II) is defined as a method for the effective
m
S
planning of all resources of a manufacturing company. Ideally, it addresses
m
xa
operational planning in units, financial planning, and has a simulation capability to
E
r
answer "what-if" questions and extension of closed-loop MRP. This is not exclusively
ou
Y
a software function, but the management of people skills, requiring a dedication to
s
as
database accuracy, and sufficient computer resources. It is a total company
-P
management concept for using human and company resources more productively.
)
03
9.
A master production schedule (MPS) is a plan for individual commodities to be
(V
produced in each time period such as production, staffing, inventory, etc. It is usually
ps
um
linked to manufacturing where the plan indicates when and how much of each product
D
will be demanded. This plan quantifies significant processes, parts, and other
m
xa
resources in order to optimize production, to identify bottlenecks, and to anticipate
E
7
needs and completed goods. Since a MPS drives much factory activity, its accuracy
M
L4
and viability dramatically affect profitability.
S
IP
Procure-to-pay (P2P) is a term used in the software industry to designate a specific
C
h
subdivision of the procurement process. The procure-to-pay systems enable the
it
w
integration of the purchasing department with the accounts payable (AP) department.
e
r
pa
Some of the largest players of the software
re
P
industry agree on a common definition of procure-to-pay, linking the procurement
process and
financial department.
LO 2, AC 2.3
3.Assuming that all other factors are constant except one, the net present value of a
capital expenditure increases when...?
A. The initial cost of a project increases
B. The discounted rate increases
C. Net cash flow during a time period increases
BASE
EXAM DUMPS
CIPS
L4M7
28% OFF Automatically For You
Whole-life Assets Management
,1.XYZ Ltd organises a meeting in order to decide on the safety stock level of a
strategic material which is used in XYZ latest product - DMD. To do this, they must
forecast the future demand for this new product. In the meeting, external consultants
are invited to join with cross-functional team. Each person of the group anonymously
replies to questionnaires and subsequently receives feedback in the form of a
statistical representation of the "group response," after which the process repeats
itself. The goal is to reduce the range of responses and arrive at something closer to
expert consensus. XYZ Ltd is using which forecasting method?
A. Objective forecasting technique
B. Delphi method
C. Holt-Winters seasonal method
D. Time series analysis
Answer: B
ly
th
Explanation:
oo
Delphi method was developed in the 1950s, originally to forecast the impact of
m
S
technology on warfare. The method entails a group of experts who anonymously reply
m
xa
to questionnaires and subsequently receive feedback in the form of a statistical
E
r
representation of the "group response," after which the process repeats itself. The
ou
Y
goal is to reduce the range of responses and arrive at something closer to expert
s
as
consensus. The Delphi Method has been widely adopted and is still in use today.
-P
Delphi method is a subjective forecasting technique Holt-Winters forecasting is a way
)
03
9.
to model and predict the behavior of a sequence of values over time?a time series.
(V
Holt-Winters is one of the most popular forecasting techniques for time series. It’s
ps
um
decades old, but it’s still ubiquitous in many applications, including monitoring, where
D
it’s used for purposes such as anomaly detection and capacity planning.
m
xa
Time series analysis is a statistical technique that deals with time series data, or trend
E
7
analysis. Time series data means that data is in a series of particular time periods or
M
L4
intervals.
S
IP
Objective forecasting approaches are quantitative in nature and lend themselves well
C
h
to an abundance of data. There are three categories of objective forecasting methods:
it
w
time series, causal/econometric, and artificial intelligence.
e
r
pa
LO 2, AC 2.3
re
P
2.XYZ Ltd has been adopting MRP system for years. The system helps the company
improve efficiency greatly and generates huge cost-savings. However, MRP system is
only limited to production process
management and XYZ management team would like to have better insights into re-
sources required across the organisation as a whole.
Which software system would help XYZ management team achieve the above
objective?
A. MRP II
B. MPS
, C. ERP
D. P2P
Answer: C
Explanation:
Enterprise resource planning (ERP) is the integrated management of main business
processes, often in real time and mediated by software and technology. ERP provides
an integrated and continuously updated view of core business processes using
common databases maintained by a data-base management system. ERP systems
track business resources?cash, raw materials, production capacity?and the status of
business commitments: orders, purchase orders, and payroll. The applications that
make up the system share data across various departments (manufacturing,
purchasing, sales, accounting, etc.) that provide the data. ERP facilitates information
flow between all business functions and manages connections to outside
ly
th
stakeholders.
oo
Manufacturing resource planning (MRP II) is defined as a method for the effective
m
S
planning of all resources of a manufacturing company. Ideally, it addresses
m
xa
operational planning in units, financial planning, and has a simulation capability to
E
r
answer "what-if" questions and extension of closed-loop MRP. This is not exclusively
ou
Y
a software function, but the management of people skills, requiring a dedication to
s
as
database accuracy, and sufficient computer resources. It is a total company
-P
management concept for using human and company resources more productively.
)
03
9.
A master production schedule (MPS) is a plan for individual commodities to be
(V
produced in each time period such as production, staffing, inventory, etc. It is usually
ps
um
linked to manufacturing where the plan indicates when and how much of each product
D
will be demanded. This plan quantifies significant processes, parts, and other
m
xa
resources in order to optimize production, to identify bottlenecks, and to anticipate
E
7
needs and completed goods. Since a MPS drives much factory activity, its accuracy
M
L4
and viability dramatically affect profitability.
S
IP
Procure-to-pay (P2P) is a term used in the software industry to designate a specific
C
h
subdivision of the procurement process. The procure-to-pay systems enable the
it
w
integration of the purchasing department with the accounts payable (AP) department.
e
r
pa
Some of the largest players of the software
re
P
industry agree on a common definition of procure-to-pay, linking the procurement
process and
financial department.
LO 2, AC 2.3
3.Assuming that all other factors are constant except one, the net present value of a
capital expenditure increases when...?
A. The initial cost of a project increases
B. The discounted rate increases
C. Net cash flow during a time period increases
