SCM 301 (Solo) Exam 2 Practice Exam Answer Key 2. A A payment to your raw materials supplier

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1 1. A Process SCM 301 (Solo) Exam 2 Practice Exam Answer Key 2. A A payment to your raw materials supplier B, C, and D are all fixed costs, not variable costs 3. C Delphi method 4. A The firm is using a chase production plan 5. C Mapping provides information to the customer about how a product was made 6. D A and C Constraint and bottleneck are synonyms that are used interchangeably 7. D None of the above 8. B Level production plan 9. C The profit leverage effect 10. B 22.5 calls per hour Productivity = Outputs Inputs 11. D All of the above = 180 calls 8 hours = 22.5 calls per hour 12. A 189 1

2 13. D Weighted moving average 14. C Tactical planning Remember that Sales and Operations Planning (S&OP) occurs at the tactical planning stage. 15. C Outsourcing 16. C Process benchmarking 17. B The ratio of outputs to inputs 18. D Overall market demand forecast 19. B Your estimate of the portion of the overall market demand you can capture 20. E Sales and operations planning (S&OP) 21. D Total cost analysis 22. D Design 23. A Lead strategy 24. C When supply costs are projected to increase 25. E All of the above 26. D Time series 27. B Detailed planning and control 28. B Supply management 29. A Fishbone (Ishikawa) diagram 30. A Market survey 2

3 31. D Trend model Use for the Following Five Questions Month Forecast Demand Error Error Abs value squared error Jan Feb , Mar Apr May Jun Sums -7 4, C ( 7) Forecast error = Actual demand Forecast value CFE = CFE = = B ( 1.2) MFE =!"# =! #!"#$%&'(!"#$%&! = = A 695 MSE = 35. D 24.5 MAD = Sum of SQUARED forecast errors # of forecast points = 4,169 6 Sum of the ABS VAL of forecast errors # of forecast points = = = B The model is valid because the tracking signal is between 4 and 4 T. S = CFE MAD = = C A chase production approach 3

4 38. C Dual sourcing 39. D Exp Smoothing Forecast = (Alpha)*(Actual Demand) + (1 Alpha)*(Forecasted demand) F! = = D If you are trying to indicate bias in a forecasting model, you should use the mean absolute deviation (MAD) approach instead of the mean forecast error (MFE) approach 41. C Process map 42. C Lag strategy 43. B A mixed production approach 44. B 163 F!"#$ = ( ) 3 = D All of the above 46. A F! = = B Mean absolute deviation (MAD) 48. A Moving average model 49. D Cross sourcing 50. D Total cost analysis 51. A Lead strategy 4

5 52. B Match strategy 53. B Causal forecasting model 54. A Mean forecast error (MFE) 55. B Direct; indirect 56. B Routine (generics) quadrant 57. D Tracking signal 58. A Weighted moving average 59. D The weight of a new machine 60. A True 61. D Life-cycle analogy method 62. C The learning curve theory 63. A Break-even point 64. B Panel consensus forecasting 65. C Mean absolute percentage error (MAPE) 66. B $76.92 The break-even point occurs when revenue = cost Revenue = 330x Cost = 70x + 20, x = 70x + 20, x = 20,000 x =

6 67. C Outsourcing allows companies to have access to high levels of products and technology without a high level of investment 68. A Cost-based and price-based 69. C $60 Total cost = Fixed cost + Variable cost Total cost = $20 + $0.05x Total cost 800 mins = $20 + $0.05(800) = $ D B and C 71. D Critical/strategic 72. C Bottleneck/problems 73. B Leverage/commodities 74. A Routine/generic 75. D A process that seeks to improve the performance of main value-added and necessary, non-value-added activities is a support process 76. E C and D 77. E You should give your boss all of the advice above, and get a fat ass promotion 78. B Life cycle analogy method 79. A Yield management 80. B A change in the party responsible for processing 81. B Chase production plan 82. A The level production strategy always maintains the same inventory level through the planning horizon 6

7 83. A 8.75 plants per labor hour Productivity = Outputs / Inputs Productivity = 2,100 plants / (10 botanists * 24 hours per botanist) Productivity = 2,100 plants / 240 hours Productivity = 8.75 plants per labor hour 84. B Single-factor productivity 7