APICS CPIM Exam Part 2 Module 2 Questions With 100% Correct Answers 2024

APICS CPIM Exam Part 2 Module 2 Questions With 100% Correct Answers 2024 decoupling point - answerpoint at which inventory is stored, which allows supply chain to operate independently mass customization - answercreation of high volume product with large variety where customers can choose an exact model out of a large pool of possible end items least squares method - answerselects a line of best fit through a plot of data to minimize the sum of square of the deviations multiple regression model - answeran equation that describes the relationship between a dependent variable and more than one independent variable econometric model - answerset of equations used simultaneously to capture how dependent and independent variables are interrelated. adaptive smoothing - answerform of exponential smoothing in which the smoothing constant is automatically adjusted as a function of forecast error measurement first order smoothing - answera weighted moving average approach that is applied to forecasting problems where the data do not exhibit significant trend or seasonal patterns double smoothing - answeruses two previously computed averages to extrapolate into the future (alpha * historic demand) + (1-alpha * forecast) - answerexponential smoothing formula decomposition - answertime series data is separated into trend, seasonal, and cyclical components life cycle analysis - answerforecast based on past patterns of each introduction, growth, maturity, and decline of similar product focus forecasting - answerforecasting that tries a variety of computer models and selects the best one CPFR (Collaborative Planning, Forecasting, and Replenishment) - answercollaboration process where trading partners can jointly plan key supply chain activities