APICS CSCP UPDATED EXAM SCRIPT QUESTIONS AND
SOLUTIONS RATED A+
✔✔Cross-selling - ✔✔Occurs when customers buy additional products or
services after the initial purchase.
✔✔Customer relationship
management (CRM) - ✔✔A marketing philosophy based on putting the customer
first. The collection and analysis of information designed
for sales and marketing decision support (as contrasted
to enterprise resources planning information) to
understand and support existing and potential customer
needs. It includes account management, catalog and
order entry, payment processing, credits and
adjustments, and other functions.
✔✔Data warehouse - ✔✔A repository of data that has been specially prepared to
support decision-making applications.
✔✔Demand forecasting - ✔✔Predicting the need for a particular good, component, or
service.
✔✔Demand management - ✔✔1) The function of recognizing all demands for goods
and
services to support the marketplace. It involves prioritizing
demand when supply is lacking. Proper organization
facilitates the planning and use of resources for profitable
business results. 2) In marketing, the process of planning,
executing, controlling, and monitoring the design, pricing,
promotion, and distribution of products and services to bring
about transactions that meet organizational and individual
needs.
✔✔Demand planning - ✔✔The process of combining statistical forecasting techniques
and judgment
to construct estimates for products or services (both high and low volume;
lumpy and continuous) across the supply chain from the suppliers' raw
materials to the consumer's needs. Items can be aggregated by product
family, geographical location, product life cycle, and so forth, to determine
an estimate of consumer demand for finished products, service parts, and
services. Numerous forecasting models are tested and combined with
judgment from marketing, sales, distributors, warehousing, service parts,
and other functions. Actual sales are compared with forecasts provided by
various models and judgments to determine the best integration of
techniques and judgment to minimize forecast error.
, ✔✔Demand pull - ✔✔The triggering of material movement to a work center only
when that work center is ready to begin the next job. In
effect, it shortens or eliminates the queue at the end of a
previous work center. It can also occur within a supply
chain, in which case it often is called a demand chain.
✔✔Distribution inventory - ✔✔Inventory, usually spare parts and finished goods, located
in the distribution system (e.g., in warehouses, in-transit
between warehouses and the consumer.)
✔✔Distribution requirements
planning (DRP) - ✔✔) The function of determining the need to replenish inventory at
branch
warehouses. A time-phased order point approach is used where the planned
orders at the branch warehouse level are "exploded" via MRP logic to become
gross requirements on the supplying source. In the case of multilevel distribution
networks, this explosion process can continue down through the various levels
of regional warehouses (master warehouse, factory warehouse, etc.) and
become input to the master production schedule. Demand on the supplying
sources is recognized as dependent, and standard MRP logic applies. 2) More
generally, replenishment inventory calculations, which may be based on other
planning approaches such as period order quantities or "replace exactly what
was used," rather than being limited to the time-phased order point approach.
✔✔Electronic data interchange (EDI) - ✔✔The paperless (electronic) exchange or
trading
documents, such as purchase orders, shipment
authorizations, advanced shipment notices, and invoices,
using standardized document formats.
✔✔Fourth-party-logistics (4PL) - ✔✔Often a separate entity formed by a joint venture or
other
long-term contract between a client and one or more
partners. The entity, or organization, is an interface
between the client and multiple logistics services
providers. Ideally, all aspects of the client's supply chain
are managed by this organization.
✔✔Free/foreign trade zone (FTZ) - ✔✔Designated areas within a country which are
considered
to be outside of the country. Material in the zone is not
subject to duties and taxes until the material is moved
outside the zone for consumption. There is no limit on the
time material may remain in the zone.
SOLUTIONS RATED A+
✔✔Cross-selling - ✔✔Occurs when customers buy additional products or
services after the initial purchase.
✔✔Customer relationship
management (CRM) - ✔✔A marketing philosophy based on putting the customer
first. The collection and analysis of information designed
for sales and marketing decision support (as contrasted
to enterprise resources planning information) to
understand and support existing and potential customer
needs. It includes account management, catalog and
order entry, payment processing, credits and
adjustments, and other functions.
✔✔Data warehouse - ✔✔A repository of data that has been specially prepared to
support decision-making applications.
✔✔Demand forecasting - ✔✔Predicting the need for a particular good, component, or
service.
✔✔Demand management - ✔✔1) The function of recognizing all demands for goods
and
services to support the marketplace. It involves prioritizing
demand when supply is lacking. Proper organization
facilitates the planning and use of resources for profitable
business results. 2) In marketing, the process of planning,
executing, controlling, and monitoring the design, pricing,
promotion, and distribution of products and services to bring
about transactions that meet organizational and individual
needs.
✔✔Demand planning - ✔✔The process of combining statistical forecasting techniques
and judgment
to construct estimates for products or services (both high and low volume;
lumpy and continuous) across the supply chain from the suppliers' raw
materials to the consumer's needs. Items can be aggregated by product
family, geographical location, product life cycle, and so forth, to determine
an estimate of consumer demand for finished products, service parts, and
services. Numerous forecasting models are tested and combined with
judgment from marketing, sales, distributors, warehousing, service parts,
and other functions. Actual sales are compared with forecasts provided by
various models and judgments to determine the best integration of
techniques and judgment to minimize forecast error.
, ✔✔Demand pull - ✔✔The triggering of material movement to a work center only
when that work center is ready to begin the next job. In
effect, it shortens or eliminates the queue at the end of a
previous work center. It can also occur within a supply
chain, in which case it often is called a demand chain.
✔✔Distribution inventory - ✔✔Inventory, usually spare parts and finished goods, located
in the distribution system (e.g., in warehouses, in-transit
between warehouses and the consumer.)
✔✔Distribution requirements
planning (DRP) - ✔✔) The function of determining the need to replenish inventory at
branch
warehouses. A time-phased order point approach is used where the planned
orders at the branch warehouse level are "exploded" via MRP logic to become
gross requirements on the supplying source. In the case of multilevel distribution
networks, this explosion process can continue down through the various levels
of regional warehouses (master warehouse, factory warehouse, etc.) and
become input to the master production schedule. Demand on the supplying
sources is recognized as dependent, and standard MRP logic applies. 2) More
generally, replenishment inventory calculations, which may be based on other
planning approaches such as period order quantities or "replace exactly what
was used," rather than being limited to the time-phased order point approach.
✔✔Electronic data interchange (EDI) - ✔✔The paperless (electronic) exchange or
trading
documents, such as purchase orders, shipment
authorizations, advanced shipment notices, and invoices,
using standardized document formats.
✔✔Fourth-party-logistics (4PL) - ✔✔Often a separate entity formed by a joint venture or
other
long-term contract between a client and one or more
partners. The entity, or organization, is an interface
between the client and multiple logistics services
providers. Ideally, all aspects of the client's supply chain
are managed by this organization.
✔✔Free/foreign trade zone (FTZ) - ✔✔Designated areas within a country which are
considered
to be outside of the country. Material in the zone is not
subject to duties and taxes until the material is moved
outside the zone for consumption. There is no limit on the
time material may remain in the zone.
