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A restaurant manager inside a major entertainment venue
needs to estimate the amount of soft drinks to order for the
coming month. Cumulative convention attendance for each
event is estimated at 20,000 people. The manager understands
the historical pull-through and turnover rate metrics at the
restaurant.
Which two tools should the manager use to estimate the total
amount of soft
drinks to
purchase?
Choose 2 answers
Weighted moving average from the historical metrics for the
last 30 days
Panel of experts to estimate total soft drink use
Weighted moving average using attendance estimates
Simple regression using independent variables to estimate total
soft drink use -
,ANSWER-Weighted moving average using attendance
estimates
Simple regression using independent variables to estimate total
soft drink use
The sales department for a company is having their sales
representatives meet
with customers to develop a sales plan for the coming year.
The sales plan
details prior year sales, current year sales, and year-to-year
sales growth. Each
customer can estimate how many products they plan to buy
from the sales
representatives the following year. Each customer signs the
sales plan, and the
sales representatives forward it to their sales managers. The
sales managers
then tally up the estimated sales and forward the totals on to the
vice president
of sales. The vice president then announces what the
predicted sales for the
company will be for the
coming year.
What was used to predict sales for the coming year?
Exponential smoothing
Simple moving average
A panel of experts
,The buildup method - ANSWER-The buildup method
A computer company needs to order 50 computer screens
from a vendor so
they can assemble 100 computers by the end of
the month.
What does the computer company need to know to ensure
the parts arrive
when they are
needed?
Lead time
Order quantity
Purchase price
Gross requirements - ANSWER-Lead time
In order to optimize a just-in-time production system, what
should companies
strive to
do?
Reduce setup times of
machinery.
Maximize inventory lot
sizes.
Create a push system for
production.
, Emulate a job-shop process. - ANSWER-Reduce setup times
of machinery.
A company has a repetitive manufacturing situation where the
master schedule
does not vary from day to day and is
level loaded.
Under these circumstances, which manufacturing system
should be employed?
Just-in-
time
Material requirements
planning
Enterprise resource
planning
Batch processing - ANSWER-
Just-in-time
What type of supply chain structure focuses on getting
products quickly to
market?
Efficient supply chain
structure
Lean supply chain
structure Agile supply
chain structure