CPIM EXAM STUDY GUIDE 2024 |600| QUESTIONS WELL SOLVED

CPIM EXAM STUDY GUIDE 2024 |600| QUESTIONS WELL SOLVED For the past six months, a manufacturer has experienced deviations from its forecasts. The monthly forecast deviations for the past six months are as follows: 15, -6, 12, 8, -18, and -4 units. What is the mean absolute deviation for these months? ANS-To calculate the mean absolute deviation, first make each deviation positive and sum these absolute values: 15 + 6 + 12 + 8 + 18 + 4 = 63 units. Next divide by the number of periods (six): 63/6 = 10.5. Which of these terms refers to activities that provide present benefit without compromising the needs of future generations? ANS-Sustainability refers to activities that provide present benefit without compromising the needs of future generations. make-or buy decision ANS-The act of deciding whether to produce an item internally or buy it from an outside supplier. manufacturing philosophy ANS-The set of guiding principles, driving forces, and ingrained attitudes that helps communicate goals, plans, and policies to all employees and that is reinforced through conscious and subconscious behavior within the manufacturing organization. manufacturing process ANS-The series of operations performed upon material to convert it from the raw material or a semi finished state to a state of further completion. order qualifiers ANS-Those competitive characteristics that a firm must exhibit to be a viable competitor in the marketplace. Shipping manifest ANS-A document that lists the pieces in a shipment. Advance ship notice (ASN) ANS-An electronic data interchange (EDI) notification of shipment of product. Duty ANS-A tax levied by a government on the importation, exportation, or use and consumption of goods. Tariff ANS-An official schedule of taxes and fees imposed by a country on imports or exports. Waybill ANS-A document containing a list of goods with shipping instructions related to a shipment. Bill of lading (uniform) (B/L) ANS-A carrier's contract and receipt for goods the carrier agrees to transport from one place to another and to deliver to a designated person. In case of loss, damage, or delay, It is the basis for filing freight claims. Freight forwarder ANS-The "middle man" between the carrier and the organization shipping the product. Often combines smaller shipments to take advantage of lower bulk costs. Customs broker ANS-A person who manages the paperwork required for international shipping and