BCOR 360 Exam 2 Questions with Correct Answers Latest Update 2025 Graded A+
Business forecasting is the process of using _____________, _____________, ____________, and
experience to make predictions and respond to various business needs. - Answers analytics, data,
insights
A forecast error is - Answers the difference between what you predict and what actually happens
Almost every decision you make in business is based on a forecast. - Answers True
Having good data is critical to building accurate forecasts. But, data availability isn't sufficient. You need
to choose the right _______________ to make the most of your data. - Answers forecasting technique
If your product is relatively new and your data is limited, your best option is to... - Answers Either A or B
(Look at sales history of similar products or use qualitative data)
In order for a company to win the "first moment of truth" it needs to have the right _______ at the right
_______ at the right _______ at the lowest possible _______.
niche, market, time, fare
product, place, time, cost
product, location, view, risk
niche, place, time, cost
None of the above - Answers product, place, time, cost
S&OP is used to bring the customer-facing and supply-facing sides of your company together to get
everyone to agree to which of the following?
a. The nature of the business environment
b. A single forecast
c. How to increase the profit margin
d. All of the above
e. Only a and b - Answers only a and b
The nature of the business environment and a single forecast
Which of the following are discussed during the S&OP supply review meeting?
How to prevent stockouts
,Manufacturing capacity
Supply chain inventory
Logistics/DC capacity
All of the above - Answers all of the above
To make CPFR successful, companies should engage in which of the following collaborative activities?
Strategy & planning
Demand & supply management
Execution
Analysis
All of the above - Answers all of the above
Which of the following are intangible benefits of collaborative planning?
a. Quicker implementation of new ideas
b. Less time for strategic planning
c. More trust
d. All of the above
e. Only a and c - Answers e. only a and c
quicker implementation of new ideas , more trust
What are some of the biggest challenges to effective order management?
a. Complexity
b. Ownership
c. Uncertainty
d. Flexibility
e. All of the above
f. Only a, b, and c - Answers f. only a, b, and c
Since we know our forecast is going to be __________, we _______________.
, good, should forecast less frequently
wrong, shouldn't forecast at all.
time-consuming, should forecast less frequently
wrong, should frequently update it with the most current information - Answers wrong, should
frequently update it with the most current information
You are a manager at Asda. You have been given the demand data for the past 10 weeks for swim rings
for children. You decide to run three different types of forecasting methods on the data to see which
gives you best forecast. What would your 3 period moving average forecast be for week 22?
1336
1375
1284
1468
None of the above - Answers 1284
Given the following forecast and demand information, what is the MAD?
12.54
15.05
4.60
14.15
None of the above - Answers 15.05
When measuring forecast error, which forecasting error expresses the forecast error as a percentage
from the mean?
ME
MSE
MAD
MAPE - Answers MAPE
Business forecasting is the process of using _____________, _____________, ____________, and
experience to make predictions and respond to various business needs. - Answers analytics, data,
insights
A forecast error is - Answers the difference between what you predict and what actually happens
Almost every decision you make in business is based on a forecast. - Answers True
Having good data is critical to building accurate forecasts. But, data availability isn't sufficient. You need
to choose the right _______________ to make the most of your data. - Answers forecasting technique
If your product is relatively new and your data is limited, your best option is to... - Answers Either A or B
(Look at sales history of similar products or use qualitative data)
In order for a company to win the "first moment of truth" it needs to have the right _______ at the right
_______ at the right _______ at the lowest possible _______.
niche, market, time, fare
product, place, time, cost
product, location, view, risk
niche, place, time, cost
None of the above - Answers product, place, time, cost
S&OP is used to bring the customer-facing and supply-facing sides of your company together to get
everyone to agree to which of the following?
a. The nature of the business environment
b. A single forecast
c. How to increase the profit margin
d. All of the above
e. Only a and b - Answers only a and b
The nature of the business environment and a single forecast
Which of the following are discussed during the S&OP supply review meeting?
How to prevent stockouts
,Manufacturing capacity
Supply chain inventory
Logistics/DC capacity
All of the above - Answers all of the above
To make CPFR successful, companies should engage in which of the following collaborative activities?
Strategy & planning
Demand & supply management
Execution
Analysis
All of the above - Answers all of the above
Which of the following are intangible benefits of collaborative planning?
a. Quicker implementation of new ideas
b. Less time for strategic planning
c. More trust
d. All of the above
e. Only a and c - Answers e. only a and c
quicker implementation of new ideas , more trust
What are some of the biggest challenges to effective order management?
a. Complexity
b. Ownership
c. Uncertainty
d. Flexibility
e. All of the above
f. Only a, b, and c - Answers f. only a, b, and c
Since we know our forecast is going to be __________, we _______________.
, good, should forecast less frequently
wrong, shouldn't forecast at all.
time-consuming, should forecast less frequently
wrong, should frequently update it with the most current information - Answers wrong, should
frequently update it with the most current information
You are a manager at Asda. You have been given the demand data for the past 10 weeks for swim rings
for children. You decide to run three different types of forecasting methods on the data to see which
gives you best forecast. What would your 3 period moving average forecast be for week 22?
1336
1375
1284
1468
None of the above - Answers 1284
Given the following forecast and demand information, what is the MAD?
12.54
15.05
4.60
14.15
None of the above - Answers 15.05
When measuring forecast error, which forecasting error expresses the forecast error as a percentage
from the mean?
ME
MSE
MAD
MAPE - Answers MAPE
