​"Asset utilization, seasonal production planning and budgeting are most closely assocated​ with:

​Medium-range forecsts.

The situation is stable and historical data​ exists, as in the case of mature products or technologies. In this​ case, which of the following forecasting approachs is​ used?

quantitative method

A qualitative forecasting method which utilizes structured questionnaires submitted to potential customers soliciting opinions about potential products to estimate likely demand is

market surveys.

​"What is the basic assumption of Time Series​ forecasting?

Hstorical time series data are good predictors of the future.

What's closely associated with the Naive or Last Period forecast​ model?

The highest random variation of the time series forecasting models.

most closely associated with the Exponential Smoothing forecast​ model?

form of a weighted moving average forecast model.

provides a measure of forecast error​ dispersion?

Mean Absolute Deviation.

​"Error metrics may indicate that the forecast model is producing poor results. What action may a manager take to remidy this​ problem?

Change forecast method to better match the demand pattern.

​"Which of the followoing is most closely associated with forecast trend

consistent upward or downward movement of sales.

A qualitative forecasting method which utilizes individuals familiar with specific market​ segments, has them estimate the demand within these​ segments, and adds the forecasts together to get an overall forecast is

​build-up forecasting.

One qualitative forecasting method uses experts working individually. The individual forecasts are shared among the​ group, after which each participant is allowed to modify his or her forecast based on the shared information. This method is

Delphi

"A set of business​ processes, backed up by information​ technology, in which supply chain partners agree to mutual business objectives and​ measures, develop joint sales and operational​ plans, and collaborate to generate and update sales forecasts and replenishment​ plans" is the definition of

collaborative​ planning, forecasting, and replenishment​ (CPFR)

Unpredictable movement of demand from one period to the next in a time series is

randomness

​"A network of manufacturers and service providers that work together to convert and move goods from the raw materials stage through to the end​ user" is the definition of

supply chain.

Statement about operation functions

Inputs to the operations function can come from many different places.

The supply chain function works with marketing to develop planning​ numbers, such as customer demand and availability of​ supply, which are needed for effective decision making. This supply chain activity is

forecasting

​"Organizational strengths or​ abilities, developed over a long time​ period, that customers find valuable and competitors find difficult or even impossible to​ copy" is the definition of

core competency.

Companies must prioritize and determine the performance dimensions on which they will focus and excel. Each performance dimension has several​ sub-dimensions. Performance,​ conformance, and reliability are​ sub-dimensions of

quality

Companies must prioritize and determine the performance dimensions on which they will focus and excel. Each performance dimension has several​ sub-dimensions. Labor,​ materials, and engineering are​ sub-dimensions of

cost

Oklahoma County issued a request for proposal​ (RFP) to paint all of the offices in the buildings located in District 3. The RFP stipulated that only contractors that were licensed and bonded would be considered. This requirement is an example of

an order qualifier.

Which of the following performance measures would be an order winner for a pizza delivery​ restaurant?

Response time.

The American Society for Quality has a two part definition of quality. One perspective on quality is​ "a product or service free from​ deficiencies; the product performs as​ intended." This is the​ ____________ perspective on quality.

conformance

In the Dittenhoefer fine china​ case, workers visually inspected finished items for defects such as chips or cracks. The time and labor cost associated with this inspection resulted in which of the following type of quality​ costs?

appraisal

Which of the following is a principle of TQM that assumes there will always be room for​ improvement, no matter how well an organization is​ doing?

continuous improvement

In​ _______________, resources are arranged sequentially according to the steps required to make a product.

a​ product-based layout

The time between completions of successive units is known as the​ ______________ of the line.

cycle time

Which is the following is an example of a continuous flow​ process?

Petroleum refinery

Which of the following products involve customization only at the very end of the manufacturing​ process?

​assemble-to-order (ATO) products

not a characteristic of a service process.

Inventory of finished products

Assume an assembly line has 4 work stations. Total task time to make the product is 15 minutes and cycle time is 5 minutes. What is the worker utilization of the assembly​ line?

.75

One qualitative forecasting method bases the forecast for a new product or service on the actual sales history of a similar product or service. An example is forecasting demand for the newest model of iPod by using the demand history from the previous model of iPod. This method is

life cycle analogy

A qualitative forecasting method which brings experts together to jointly discuss and develop forecasts is

panel consensus forecasting.