Supply Chain Quiz: Mastering Forecasting Concepts

10/11/23, 10:00 AM M5.C1A: Quiz 5: 2023F BIA 674-WS M5.C1A: Quiz 5 Due Oct 15 at 11:59pm Points 110 Questions 11 Time Limit 30 Minutes Allowed Attempts 2 Instructions This quiz consists of multiple-choice and true/false questions. To be successful with the module quizzes, it's important to read the text and complete the practice exercises. Keep the following in mind: Multiple attempts: You will have two attempts at this quiz, with your highest score being recorded in the grade book. Timing: You will need to complete each of your attempts in one sitting, and you are allotted 30 minutes to complete each attempit. Answers: You may review your answer choices and compare them to the correct answers the day after the quiz due date. To start, click the Begin button. When finished, click the Submit button. Take the Quiz Again Attempt History Attempt Time Score LATEST Attempt 1 1 minute 110 out of 110 (@ Answers will be shown after your last attempt Score for this attempt: 110 out of 110 Submitted Oct 10 at 10:47am This attempt took 1 minute. Question 1 10/ 10 pts The forecast of demand forms the basis for all strategic and planning decisions in a supply chain. https://sit.instructure.com/courses/68393/quizzes/98640 1/5

10/11/23, 10:00 AM MS.C1A: Quiz 5: 2023F BIA 674-WS True False Question 2 10 /10 pts Most firms that employ forecasting do not maintain any estimates of forecast error. True False Question 3 10/ 10 pts Long-term forecasts have a larger standard deviation of error relative to the mean than short-term forecasts. True False Question 4 10/ 10 pts The result when each stage in the supply chain makes its own separate forecast is often a match between supply and demand because these forecasts are often very different. True https://sit.instructure.com/courses/68393/quizzes/98640 2/5

10/11/23, 10:00 AM MS.C1A: Quiz 5: 2023F BIA 674-WS False Question 5 10/ 10 pts Leaders in many supply chains have started moving toward collaborative forecasting to improve their ability to match supply and demand. True False Question 6 10/ 10 pts Mature products with stable demand are usually the most difficult to forecast. True False Question 7 10/ 10 pts Forecasts should include both the expected value of the forecast and a measure of forecast error True False https://sit.instructure.com/courses/68393/quizzes/98640 3/5

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10/11/23, 10:00 AM MS.C1A: Quiz 5: 2023F BIA 674-WS Question 8 10 /10 pts Aggregate forecasts are usually more accurate than disaggregate forecasts, as they tend to have a smaller standard deviation of error relative to the mean. True False Question 9 10 /10 pts Collaborative forecasting based on sales to the end customer can help enterprises further up the supply chain reduce forecast error. True False Question 10 10/ 10 pts Qualitative forecasting methods are most appropriate when there is good historical data available or when experts do not have market intelligence that is critical in making the forecast. True False https://sit.instructure.com/courses/68393/quizzes/98640 4/5

10/11/23, 10:00 AM MS.C1A: Quiz 5: 2023F BIA 674-WS Question 11 10 /10 pts Time series forecasting methods are the most difficult methods to implement. True False Quiz Score: 110 out of 110 https://sit.instructure.com/courses/68393/quizzes/98640 5/5

Quiz 5

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