Question 1

Classifying orders according to pre-established guidelines so that a company can prioritize how orders are to be filled refers to ___________.
A)order fill rate
B)order management
C)order processing
D)order triage

Accepted Answer

Order triage refers to the process of classifying orders based on certain criteria or guidelines so that a company can determine the priority in which orders should be fulfilled. This helps in efficient order management and ensures that critical or high-priority orders are processed and shipped first.

Question 2

___________ refers to finished goods that are produced prior to receiving a customer order.
A)Make-to-stock
B)Supply management
C)Make-to-order
D)Speculation

Accepted Answer

Make-to-stock refers to the production strategy where goods are manufactured in anticipation of future demand and before any orders are received, allowing for immediate delivery when a customer places an order.

Question 3

Which forecasting technique tends to be appropriate when there is little or no historical data?
A)exponential smoothing
B)judgmental
C)time series
D)cause and effect

Accepted Answer

Judgmental forecasting is appropriate when there is little or no historical data because it relies on expert opinions, intuition, and qualitative methods rather than past data.

Question 4

___________ refers to the time from when the seller receives an order until an appropriate location is authorized to fill the order.
A)Order processing
B)Order cycle
C)Order management
D)Order transmittal

Accepted Answer

The answer of ___________ refers to the time from when...

Question 5

Order transmittal is ___________.
A)the series of events that occurs from the time a customer places an order and the time the customer receives the order
B)the series of events that occurs between the time a customer places an order and the time the seller receives the order
C)the series of events that occurs between the time a customer perceives the need for a product and the time the seller receives the order
D)the series of events that occurs between the time a customer places an order and the time the order cycle begins

Accepted Answer

Order transmittal refers to the process and series of events that happen from when a customer places an order to when that order is received by the seller. This encompasses all the steps involved in communicating the order details from the customer to the seller.

Question 6

___________ and electronic ordering are order transmittal techniques that have emerged over the last 30 years.
A)In-person
B)Mail
C)Fax
D)Telephone

Accepted Answer

Fax and electronic ordering are the techniques that have emerged and become popular over the last 30 years for transmitting orders.

Question 7

In general,there are ___________ possible ways to transmit orders.
A)three
B)four
C)five
D)six

Accepted Answer

The answer of In general,there are ___________ possible ways to...

Question 8

The text suggests that ___________ often represents the best opportunity to improve the effectiveness and efficiency of an order cycle.
A)order transmittal
B)order picking and assembly
C)order delivery
D)order processing

Accepted Answer

The answer of The text suggests that ___________ often represents...

Question 9

___________ refers to the management of various activities associated with the order cycle.
A)Logistics
B)Order processing
C)Demand management
D)Order management

Accepted Answer

Order management refers to the management of various activities associated with the order cycle, including taking orders, fulfilling them, and tracking them until delivery.

Question 10

Which forecasting technique assumes that one or more factors are related to demand and that this relationship can be used to estimate future demand?
A)exponential smoothing
B)judgmental
C)cause and effect
D)time series

Accepted Answer

Cause and effect forecasting techniques assume that demand is related to one or more factors, and this relationship can be used to predict future demand. This approach often involves using regression analysis or similar statistical methods to identify and quantify the relationships between demand and the relevant factors.

Question 11

Order picking and assembly is ___________.
A)the final stage of the order cycle
B)the most important component of the order cycle
C)the order cycle component that follows order processing
D)the order cycle component that follows order transmittal

Accepted Answer

Order picking and assembly is the step that follows order processing in the order cycle, where items are collected and prepared for shipment based on customer orders.

Question 12

An underlying assumption of ___________ forecasting is that future demand is dependent on past demand.
A)trial and error
B)time series
C)judgmental
D)cause and effect

Accepted Answer

Time series forecasting is based on the assumption that future demand is dependent on past demand patterns, analyzing historical data to predict future outcomes.

Question 13

The order cycle is ___________.
A)the time that it takes for a check to clear
B)the time that it takes from when a customer places an order until the selling firm receives the order
C)also called the replenishment cycle
D)also called the vendor cycle

Accepted Answer

The order cycle is also known as the replenishment cycle, referring to the time between when an order is placed by a customer and when the order is received and replenished.

Question 14

The order cycle is composed of each of the following except:
A)order retrieval.
B)order delivery.
C)order picking and assembly.
D)order transmittal.

Accepted Answer

Order retrieval is not a standard component of the order cycle. The order cycle typically includes order transmittal (sending the order), order processing (including picking and assembly), and order delivery.

Question 15

___________ refers to finished goods that are produced after receiving a customer order.
A)Make-to-stock
B)Supply management
C)Make-to-order
D)Postponement

Accepted Answer

Make-to-order refers to a production strategy where goods are manufactured specifically after receiving a customer's order, ensuring customization and reducing inventory costs.

Question 16

The creation across the supply chain and its markets of a coordinated flow of demand is the definition of ___________.
A)order cycle
B)order management
C)demand management
D)supply chain management

Accepted Answer

Demand management is the process of forecasting, planning, and controlling the demand for products and services to optimize the balance between supply and demand across the supply chain and its markets.

Question 17

Which of the following is not a basic type of demand forecasting model?
A)exponential smoothing
B)cause and effect
C)judgmental
D)time series

Accepted Answer

The answer of Which of the following is not a...

Question 18

What is the second phase of the order cycle?
A)order transmittal
B)order processing
C)order picking and assembly
D)order delivery

Accepted Answer

The answer of What is the second phase of the...

Question 19

___________ suggests that supply chain partners will be working from a collectively agreed-to single demand forecast number as opposed to each member working off its own demand forecast projection.
A)Supply chain orientation
B)Collaborative planning,forecasting,and replenishment CPFR)concept
C)Order management
D)Supply chain analytics

Accepted Answer

The Collaborative Planning, Forecasting, and Replenishment (CPFR) concept is specifically designed to align the demand forecasting and replenishment strategies of all partners in the supply chain, ensuring that they work from a unified forecast rather than separate projections. This collaborative approach aims to enhance supply chain efficiency by reducing inventory levels and improving product availability.

Question 20

Surveys and analog techniques are examples of ___________ forecasting.
A)cause and effect
B)time series
C)exponential smoothing
D)judgmental

Accepted Answer

Surveys and analog techniques fall under judgmental forecasting, which relies on subjective opinions and judgments rather than purely quantitative data or historical trends.

Quiz 7: Demand Management, order Management

Classifying orders according to pre-established guidelines so that a company can prioritize how orders are to be filled refers to ___________.

___________ refers to finished goods that are produced prior to receiving a customer order.

Which forecasting technique tends to be appropriate when there is little or no historical data?

___________ refers to the time from when the seller receives an order until an appropriate location is authorized to fill the order.

Order transmittal is ___________.

___________ and electronic ordering are order transmittal techniques that have emerged over the last 30 years.

In general,there are ___________ possible ways to transmit orders.

The text suggests that ___________ often represents the best opportunity to improve the effectiveness and efficiency of an order cycle.

___________ refers to the management of various activities associated with the order cycle.

Which forecasting technique assumes that one or more factors are related to demand and that this relationship can be used to estimate future demand?

Order picking and assembly is ___________.

An underlying assumption of ___________ forecasting is that future demand is dependent on past demand.

The order cycle is ___________.

The order cycle is composed of each of the following except:

___________ refers to finished goods that are produced after receiving a customer order.

The creation across the supply chain and its markets of a coordinated flow of demand is the definition of ___________.

Which of the following is not a basic type of demand forecasting model?

What is the second phase of the order cycle?

___________ suggests that supply chain partners will be working from a collectively agreed-to single demand forecast number as opposed to each member working off its own demand forecast projection.

Surveys and analog techniques are examples of ___________ forecasting.