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You answered the following questions incorrectly.Q:1 In _ benchmarking you compare your performance to that of a business in your own industry?You answered: C) CompetitiveThe correct answer was: C) CompetitiveExplanation: Competitive benchmarking has your business comparing your performance to that of a competitor in your own industry.Q:1 This benchmarking approach to assessing a process is to compare it to a checklist of world-class process descriptions?You answered: D) Best-in-classThe correct answer was: D) Best-in-classExplanation: Best-in-class benchmarking is assessing a process is to compare it to a checklist of world-class process descriptions.Q:1 _ are many approaches for achieving continuous improvement including the following except?You answered: A) Six-SigmaThe correct answer was: C) AnalyticsExplanation: Analytics: continuous improvement approaches include six-sigma, lean and just-in-time.Q:1 The specific objective in an _ organization is to get as close as possible to zero defects, with an outer limit of 3.4 defects per million opportunities?You answered: A) Six-SigmaThe correct answer was: A) Six-SigmaExplanation: A six-sigma organization is to get as close as possible to zero defects, with an outer limit of 3.4 defects per million opportunities.Q:1 One potential challenge to using the sigma approach arises from the difficulty of determining what constitutes a _?You answered: A) DefectThe correct answer was: A) DefectExplanation: One of the potential challenges when using the six-sigma approach arises from the difficulty of determining what constitutes a defect.Q:1 A temptation for a project team leader or executive sponsoring the six-sigma project may to set the limits of _ as wide as possible?You answered: A) VariabilityThe correct answer was: A) VariabilityExplanation: Project team leaders or executives sponsoring the six-sigma project may be tempted to set the limits of variability as wide as possible to achieve six-sigma levels of defects.Q:1 The process for conducting a six-sigma continuous improvement project includes 5 phases including all of the following except?You answered: C) EvaluateThe correct answer was: C) EvaluateExplanation: Evaluate is not a six-sigma phase which includes: define, measure, analyze, improve & control.Q:1 In a supply chain there are value creating activities which needs to be maintained and organized. Supply chains are generally organized by one strong firm calledYou answered: D. Primary masterThe correct answer was: A. Channel masterExplanation: Supply chains are generally organized by one strong firm called a Channel master.Q:1 The _ approach views storage, inspections, queues at work centers, and defects all fail to add value while costing money and slowing down production?You answered: D) Just-in-TimeThe correct answer was: D) Just-in-TimeExplanation: Storage, inspections, queues at work centers, and defects all fail to add value while costing money and slowing down production according to the Just-in-Time (JIT) approach.Q:1 Both the Lean and JIT approaches defines storage, inspections, queues at work centers, and other process that fail to add value as _?You answered: A) WasteThe correct answer was: A) WasteExplanation: storage, inspections, queues at work centers, and other process that fail to add value are defined by Lean and JIT as waste.Q:1 Continuous improvement includes _ of variability discovered in the system no matter what the source, internal or external?You answered: C) EliminationThe correct answer was: C) EliminationExplanation: CI includes elimination of variability discovered in the system no matter what the source, internal or external.Q:1 JIT takes the approach of having items _ through the system when they are needed, and not according to preset schedules?You answered: D) PulledThe correct answer was: D) PulledExplanation: Items are pulled through the system when they are needed, and not according to preset schedules with the JIT approach.Q:1 According to JIT another way to reduce waste is to lay out the production facility in such a way as to minimize _ and maximize flexibility?You answered: D) InventoryThe correct answer was: C) DistancesExplanation: According to JIT another way to reduce waste is to lay out the production facility in such a way as to minimize distances and maximize flexibility.Q:1 The Lean approach supports finding suppliers whose methods will _ with lean requirements and develop long-term relationships with them?You answered: B) CoordinateThe correct answer was: C) SynchronizeExplanation: Finding suppliers whose methods will synchronize with lean requirements and develop long-term relationships with them is part of the Lean approach.Q:1 Value stream _ is a paper and pencil tool that helps you to see and understand the flow of material and information as a product or service makes its way through the value stream?You answered: B) MappingThe correct answer was: B) MappingExplanation: Value stream mapping is a paper and pencil tool that helps you to see and understand the flow of material and information as a product or service makes its way through the value stream.Q:1 To implement a process improvement establish a set of key performance indicators using a balanced scorecard approach and determine _ for each indicator?You answered: B) BaselinesThe correct answer was: B) BaselinesExplanation: Implementing a process improvement involves establishing a set of key performance indicators using a balanced scorecard approach and determine baselines for each indicator.Q:1 The _ plan contains all improvements in sequence and delineates the end of implementation and the beginning of the continuous improvement for each?You answered: A) ProjectThe correct answer was: B) MasterExplanation: A master plan contains all improvements in sequence and delineates the end of implementation and the beginning of the continuous improvement for each.Q:1 _ plans schedule all steps required to achieve the targets for each KPI, set deadlines and assign accountability for achieving results?You answered: A) ProjectThe correct answer was: A) ProjectExplanation: The project plan schedules all steps required to achieve the targets for each KPI, set deadlines and assign accountability for achieving results.Q:1 Continuous improvement projects must be selected in harmony with overall business strategies with the collaboration of the _ team?You answered: C) ProjectThe correct answer was: B) ExecutiveExplanation: Continuous improvement projects must be selected in harmony with overall business strategies with the collaboration of the executive team.Q:1 Key employees should be involved in continuous improvement projects as their _ knowledge is required to define the process, analyze weak points, suggest improvements, and implement solutions?You answered: A) SpecializeThe correct answer was: B) IntimateExplanation: An organizations key employees should be involved in continuous improvement projects as their intimate knowledge.Q:1 Supply chains often _ customer demand to create greater variability at each point along the network leading back to the supplier of raw materials?You answered: B) UnderestimateThe correct answer was: A) MagnifyExplanation: Supply chains often magnify customer demand to create greater variability at each point along the network leading back to the supplier of raw materials.Q:1 _ demand is a necessary part of managing a supply network, especially at the beginning of a products life cycle when there is no history to help you?You answered: C) ForecastingThe correct answer was: C) ForecastingExplanation: Forecasting demand is a necessary part of managing a supply network, especially at the beginning of a products life cycle when there is no history to help you.Q:1 _ demand planning to a significant degree, explains why supply chain management follows the commonsense rule that two heads or more are better than one?You answered: D) CollaborativeThe correct answer was: D) CollaborativeExplanation: Collaborative demand planning explains why supply chain management follows the commonsense rule that two heads or more are better than one.Q:1 A competitors _, especially if they are unpredicted, can cut into your share of an otherwise stable market?You answered: A) PromotionsThe correct answer was: D) InnovationsExplanation: A competitors innovations, especially if they are unpredicted, can cut into your share of an otherwise stable market.Q:1 Forecasters generally compute an average order from _ data, determine the variation from the average to predict the maximum (and minimum) demand, and include an extra measure of safety stock.You answered: A) HistoricalThe correct answer was: A) HistoricalExplanation: Forecasters generally compute an average order from historical data and determine the variation from the average to predict demand.Q:1 When batching orders, firms allow inventory levels to drop to a specified minimum amount before entering an order instead of entering orders on a _ schedule?You answered: B) RotatingThe correct answer was: A) RegularExplanation: When batching orders, firms allow inventory levels to drop to a specified minimum amount before entering an order instead of entering orders on a regular schedule.Q:1 Manufacturers sometimes respond to anticipated shortages in supply by only partially filling each order, in effect, by _ the product?You answered: B) ShortingThe correct answer was: C) RationingExplanation: Manufacturers sometimes respond to anticipated shortages in supply by only partially filling each order, in effect, by rationing the product.Q:1 One way to reduce _ times is by transferring deliveries from the suppliers vehicles to the vendors vehicles without storing them at the warehouse?You answered: D) ShortageThe correct answer was: A) LeadExplanation: One way to reduce lead times is by transferring deliveries from the suppliers vehicles to the vendors vehicles without storing them at the warehouse.Q:1 _ stability can also pay off in reduced demand variability through the reduction or elimination of wholesaler discounts and everyday low- cost pricing at the retail level?You answered: B) SupplyThe correct answer was: C) PriceExplanation: Price stability can also pay off in reduced demand variability through the reduction or elimination of wholesaler discounts and everyday low- cost pricing at the retail level.Q:1 _ between supplier and customer to place orders in advance of a period of short supply allows for more accurate scheduling of production and capacity?You answered: C) CommunicationThe correct answer was: B) CollaborationExplanation: Collaboration between supplier and customer to place orders in advance of a period of short supply allows for more accurate scheduling of production and capacityQ:1 Traditional forecasting all too often merely assumed that each sales period should yield an increase of some _ percentage of the previous periods volume?You answered: B) FixedThe correct answer was: C) ArbitraryExplanation: Traditional forecasting all too often merely assumed that each sales period should yield an increase of some arbitrary percentage of the previous periods volume.Q:1 Accuracy generally increases with the size of a product _, assuming that forecasts for each item in the group are as likely to be too high as to be too low?You answered: C) GroupThe correct answer was: C) GroupExplanation: Accuracy generally increases with the size of a product group, assuming that forecasts for each item in the group are as likely to be too high as to be too lowQ:1 Demand can be classified into two types: dependent and independent. Demand for a _ product is independent?You answered: C) CommodityThe correct answer was: B) FinishedExplanation: Demand can be classified into two types: dependent and independent, with demand for a finished product being independent?Q:1 In lieu of forecasting data because a product is new, or when data are lacking for other reasons, an organization has to fall back on _?You answered: A) MarketsThe correct answer was: D) JudgmentExplanation: Without forecasting data because a product is new, or when data are lacking for other reasons, an organization has to fall back on judgment and intuition.Q:1 Demand can be classified into two types: dependent and independent, where demand for a _ used to manufacture a product is dependent?You answered: A) ComponentThe correct answer was: A) ComponentExplanation: Demand can be classified into two types: dependent and independent, where demand for a component used to manufacture a product is dependent.Q:1 This forecasting approach enables management to review and adjust forecasts made at an aggregate level and to keep lower-level forecasts in balance?You answered: D) Pyramid TechniqueThe correct answer was: D) Pyramid TechniqueExplanation: The Pyramid Technique enables management to review and adjust forecasts made at an aggregate level and to keep lower-level forecasts in balance.Q:1 When there are no data on a new product or service and forecasters may instead study past patterns of demand for a similar product or service?You answered: C) Historical AnalogyThe correct answer was: C) Historical AnalogyExplanation: Historical Analogy is used when there are no data on a new product or service and forecasters may instead study past patterns of demand for a similar product or service.Q:1 Consumer research, such as motivational research, focus groups, questionnaires, and other methods used to discover and analyze consumer attitudes, reactions, and preferences?You answered: B) Market ResearchThe correct answer was: B) Market ResearchExplanation: Market Research conducts such as consumer research, motivational research, focus groups, and questionnaires.Q:1 A key feature of this forecasting approach is the maintenance of anonymity throughout the process and instead of meeting face to face the experts submit their responses comments, and revisions to a panel director?You answered: A) Delphi MethodThe correct answer was: A) Delphi MethodExplanation: A key feature of the Delphi Method is the maintenance of anonymity throughout the process and instead of meeting face to face the experts submit their responses.Q:1 This approach was first developed to make forecasts in science and technology, including such areas as space, war, and weapons?You answered: A) Delphi MethodThe correct answer was: A) Delphi MethodExplanation: The Delphi Method was first developed to make forecasts in science and technology, including such areas as space, war, and weapons.Q:1 _ forecasting techniques rely on historical data and they can be divided into two types; intrinsic and extrinsic?You answered: C) Quantitative The correct answer was: C) Quantitative Explanation: Quantitative forecasting techniques rely on historical data and they can be divided into two types; intrinsic and extrinsic.Q:1 _ forecasting techniques focus upon data about demand for the product or service itself, such as past sales data?You answered: B) IntrinsicThe correct answer was: B) IntrinsicExplanation: Intrinsic forecasting techniques focus upon data about demand for the product or service.Q:1 _ forecasting techniques base their predictions on factors related to demand for the product?You answered: D) ExtrinsicThe correct answer was: D) ExtrinsicExplanation: Extrinsic forecasting techniques base their predictions on factors related to demand for the product.Q:1 These techniques are known as _ models, because they analyzed conditions thought to affect changes in demand for a particular item or group of items?You answered: C) AssociativeThe correct answer was: C) AssociativeExplanation: Associative-these techniques are known as associative models, because they analyzed conditions thought to be associated with changes in demand for a particular item or group of items.Q:1 Whatever the particular technique an organization utilizes, the resulting forecast can be no better than the _ used in preparing it?You answered: A) DataThe correct answer was: A) DataExplanation: No matter the particular technique an organization utilizes, the resulting forecast can be no better than the data used in preparing it.Q:1 _ forecasting techniques or time series models embody the notion that data on past performance can be used to predict performance in the future?You answered: B) IntrinsicThe correct answer was: B) IntrinsicExplanation: Intrinsic forecasting techniques or time series models embody the notion that data on past performance can be used to predict performance in the future.Q:1 _ forecasting assumes that demand in the next time period wi

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