CPIM Part 1- Certified in Production & Inventory Management (100% Solved)

4 Ps correct answers `Product, Price, Promotion, Place Competitive Priorities/Performance Objectives correct answers Cost, Quality, Time, Flexibility Which trends are easiest to forcasat correct answers Stable demand Master Scheduling forcast/horizon correct answers Physical units at end item level/3-18 months Seasonal Index correct answers Period Average Demand/Average Demand of All Periods Qualitative Techniques correct answers Based on opinion, subjective (market research/business planning/medium to long term) Quantitative extrinsic correct answers Correlation, trend changing, long term Quantitative Intrinsic correct answers Past is good for forecasting future, short/medium term, trends, seasonal index Denationalized Demand (Average demand per period) correct answers Annual forecast/number of periods Exponential Smoothing correct answers (a) (latest demand) + (1-a)(Previous Demand) Mean Absolute Deviation (MAD) correct answers Used to determine magnitude of error (Sum of absolute value of errors/number of periods) Tracking Signal Formula correct answers algebraic sum of forecast deviations/MAD Priority correct answers What product is needed, how much is needed, and when. Master scheduling and MRP. (Demand) Capacity correct answers How much production capacity and other resources are available to meet priorities (Supply) S&OP correct answers Product families (1-3 years), Translates business plan into production rates/goals, maintaining inventory levels, determining required resources. Master scheduling correct answers End items (3-18 months) MRP correct answers Components (3-18 months)