SCMN 2150 Exam #2 |89 Questions
and Answers A+ Rated
What types of *Supply Chain Planning* is there? - -1. Short-Range
2. Immediate-Range
3. Long-range
- What is *Capacity*? - -The rate at which output can be produced by an
operating unit.
ex: machine, process, company, airplane, facility, etc.
- What is Capacity Planning? - -The process of establishing output rate that
can be achieved.
- What is the difference between design capacity vs. effective capacity? - -
*Design Capacity*: The best operating level (theoretical).
*Effective Capacity*: Normal operating level (logical or reasonable).
- What is *Capacity Utilization* and what does it measure?
What is the formula? - -Measures how much of the available capacity is
being used. Measures effectiveness.
Utilization = Actual Output/Capacity (100%)
- What is *Capacity Cushion*? What does it create? - -An additional amount
of capacity added onto the expected demand to allow for greater than
expected demand and demand during peak seasons.
Creates flexibility.
- What happens when capacity > demand? - -Excess inventory
- What happens when capacity < demand? - -Inventory shortage
- What is the goal of capacity planning and management? - -to match
capacity and demand
- what are some things that we forecast or predict? - --weather
-sports scores
-supply and demand: Hershey kisses, iPads, iphones
-stock market
, - What are the types of forecasting methods? - -1. Qualitative
2. Quantitative
- What is Qualitative forecasting? Strengths and weaknesses? - -Subjective
and non-mathematical. Based on human judgement.
*Strengths*: Can incorporate latest changes in the environment and "inside
information".
*Weaknesses*: Can bias the forecast and reduce forecast accuracy.
- What is Quantitative forecasting? Strengths and weaknesses? - -Based on
mathematics. Quantitative in nature.
*Strengths*: Consistent and objective. Able to consider much information
and data at one time.
*Weaknesses*: Often quantifiable data are not available. Only as good as the
data on which they are based.
- What are the 4 time series patterns? - -1. Level or horizontal.
2. Trend pattern
3. Seasonal pattern
4. Cycle pattern
- What is level pattern? - -long term average; data fluctuates around a
constant mean
- What is trend pattern? - -data exhibits an increasing or decreasing pattern
- What is seasonality pattern? - -any pattern that regularly repeats itself and
is of a constant length
- What is cycle pattern? - -patterns created by economic fluctuations
- With forecasting, what cannot be predicted? - -random variation
- What is the formula for *simple moving average*? - -F = forecast for the
coming period
A = actual occurrence in the past period for up to "A" periods.
n = number of periods to be averaged.
- What does the simple moving average model assume? - -an average is a
good estimator of future behavior
- What is the formula for *exponential smoothing model*? - -
and Answers A+ Rated
What types of *Supply Chain Planning* is there? - -1. Short-Range
2. Immediate-Range
3. Long-range
- What is *Capacity*? - -The rate at which output can be produced by an
operating unit.
ex: machine, process, company, airplane, facility, etc.
- What is Capacity Planning? - -The process of establishing output rate that
can be achieved.
- What is the difference between design capacity vs. effective capacity? - -
*Design Capacity*: The best operating level (theoretical).
*Effective Capacity*: Normal operating level (logical or reasonable).
- What is *Capacity Utilization* and what does it measure?
What is the formula? - -Measures how much of the available capacity is
being used. Measures effectiveness.
Utilization = Actual Output/Capacity (100%)
- What is *Capacity Cushion*? What does it create? - -An additional amount
of capacity added onto the expected demand to allow for greater than
expected demand and demand during peak seasons.
Creates flexibility.
- What happens when capacity > demand? - -Excess inventory
- What happens when capacity < demand? - -Inventory shortage
- What is the goal of capacity planning and management? - -to match
capacity and demand
- what are some things that we forecast or predict? - --weather
-sports scores
-supply and demand: Hershey kisses, iPads, iphones
-stock market
, - What are the types of forecasting methods? - -1. Qualitative
2. Quantitative
- What is Qualitative forecasting? Strengths and weaknesses? - -Subjective
and non-mathematical. Based on human judgement.
*Strengths*: Can incorporate latest changes in the environment and "inside
information".
*Weaknesses*: Can bias the forecast and reduce forecast accuracy.
- What is Quantitative forecasting? Strengths and weaknesses? - -Based on
mathematics. Quantitative in nature.
*Strengths*: Consistent and objective. Able to consider much information
and data at one time.
*Weaknesses*: Often quantifiable data are not available. Only as good as the
data on which they are based.
- What are the 4 time series patterns? - -1. Level or horizontal.
2. Trend pattern
3. Seasonal pattern
4. Cycle pattern
- What is level pattern? - -long term average; data fluctuates around a
constant mean
- What is trend pattern? - -data exhibits an increasing or decreasing pattern
- What is seasonality pattern? - -any pattern that regularly repeats itself and
is of a constant length
- What is cycle pattern? - -patterns created by economic fluctuations
- With forecasting, what cannot be predicted? - -random variation
- What is the formula for *simple moving average*? - -F = forecast for the
coming period
A = actual occurrence in the past period for up to "A" periods.
n = number of periods to be averaged.
- What does the simple moving average model assume? - -an average is a
good estimator of future behavior
- What is the formula for *exponential smoothing model*? - -
