BCOR 360 EXAM STUDY GUIDE 2025
The planning, scheduling, and control of the activities that transform inputs into finished
goods and services" is the definition of _____ - Correct Ans-Operations Management
Translates the business strategy into specific actions and coordinates with other
areas"is the definition of - Correct Ans-functional strategy
Which of the following is an infrastructural element of a business strategy? - Correct
Ans-policies
Performance dimensions for which customers expect a minimum level of performance,
but do not provide a competitive advantage" is the definition of - Correct Ans-Order
qualifiers
Electra wants to purchase a laptop for use in her MBA program so she can work on
assignments and surf the web while the professor drones on endlessly. After consulting
with her colleagues, she chooses the dimensions of cost, weight, processor speed, and
touchscreen capability as critical to her long term success and amusement. She
evaluates two different laptops and rates their performance on each criterion on a scale
from 1 (poor) to 5 (excellent). Which laptop should Electra purchase? - Correct Ans-
Knockoff
"An estimate of the future value of some variable" is the definition of - Correct Ans-a
forecast
Which of the following statements about forecasts is true? - Correct Ans-Forecasts for
the near term tend to be more accurate.
The situation is vague and little data exists, as in the case of new products or
technologies. In this case, which of the following forecasting approach is used? -
Correct Ans-qualitative method
A long-term movement up or down in a time series is called - Correct Ans-trend.
A firm's demand data from the last two quarter is displayed in the table. Use a three
period moving average to forecast demand for July. - Correct Ans-217
A firm's demand data from the last two quarter is displayed in the table. Use a three
period weighted moving average with Wt = 0.7, Wtminus1 = 0.2, and Wtminus2 = 0.1 to
forecast demand for July. - Correct Ans-235.2
A counseling service records the number of calls to their hotline for the last year. What
is the forecast for August if the forecast for June was 164 and the service uses
exponential smoothing with an alpha of 0.8? - Correct Ans-175.36
BCOR 360 EXAM
,BCOR 360 EXAM
Multiple regression is used when the forecaster believes that more than one
independent variable should be used to predict the variable of interest. - Correct Ans-
True
Elm Lake Fire Department wants to forecast the demand for structure fires. The last five
years of data are shown below.
Year Demand
1 12
2 16
3 10
49
5 13
Using simple exponential smoothing with alpha=.3, forecast the demand for period 6.
Assume that the forecast for Year 1 = 15. - Correct Ans-C
Given the following linear demand forecast, what is the predicted forecast at period 14?
Demand = 100 + 15 X (where X is the desired forecast period) - Correct Ans-d
A model with a positive mean forecast error suggests that, on average, the model
underforecasts - Correct Ans-True
"Performance dimensions highly valued by customers that differentiate a company's
products and services from its competitors" is the definition of - Correct Ans-order
winners
A model with a positive mean forecast error suggests that, on average, the model
underforecasts. - Correct Ans-True
Given the following historical demand and forecast, calculate the Tracking Signal in
Week 3:
Week 1 Demand: 50 Forecast: 47
Week 2 Demand: 54 Forecast: 56
Week 3 Demand: 58 Forecast: 57 - Correct Ans-1.00
______________ refers to the broad set of activities carried out by organizations to
analyze sourcing opportunities, develop sourcing strategies, select suppliers, and carry
out all the activities required to procure goods and services - Correct Ans-Supply
management
______________ is the purchased cost of goods from outside suppliers - Correct Ans-
COGS
Flingers Inc. reveals the following information in their annual report for FY 2014.
BCOR 360 EXAM
, BCOR 360 EXAM
Earnings and Expenses
Sales $10,000,000
Cost of goods sold $5,000,000
Pretax earnings $500,000
Selected Balance Sheet Items
Merchandise inventory $80,000
Total assets $2,000,000
Every dollar Flingers saves in purchasing has the same impact as what amount of
increased sales? - Correct Ans-20
Dusty is evaluating two bids to supply fence hardware for the 5 acres of pasture that
need to be fenced. Breezy submits a bid of $40 per unit with a defect rate of 3%, and
Lady's bid is $50 per unit with a defect rate of 0.5%. If a section of fence fails, it costs an
average of $500 in losses and herding costs to round up all of the capybaras. Dusty
believes it will take 500 units to fence in this pasture configuration; which supplier
should win the business? - Correct Ans-Lady
The application of quantitative techniques to purchasing data in an effort to better
understand spending patterns and identify opportunities for improvement" is the
definition of - Correct Ans-Spend analysis
_____________ profiles the major forces and trends that are impacting the industry,
including pricing, competition, regulatory forces, substitution, technology changes, and
supply/demand trends. - Correct Ans-Industry analysis
One advantage of outsourcing is that it - Correct Ans-increases the company's access
to state-of-the-art products and processes.
A company would like to produce 500 products per week for 5 weeks.
The Direct Material Cost for the raw materials used in the product is $3.25 per product.
In order to start production, the company must purchase a special drill that costs
$400.00 (this is a One-Time purchase).
What is the Total Cost Per Product? - Correct Ans-3.41 per product
Which of the following advantages is gained by a firm that has a multiple sourcing
strategy? - Correct Ans-risk is spread
BCOR 360 EXAM