Inventory Management Learning Block 4 Practice Questions Flashcards Preview

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Flashcards in Inventory Management Learning Block 4 Practice Questions Deck (10)
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1
Q

Which of the following forecast methods better takes into account a recent trend in sales, whether upward or downward?

A

Weighted moving average

2
Q

Accurate forecasts result in:

A

Lower quantity safety stock and fewer overall inventory requirements

3
Q

Which is the preferred method of estimating a company’s future needs?

A

Demand forecasting

4
Q

The weighting factors in a weighted moving average forecast should add up to:

A

1.0

5
Q

What is the three-week simple moving average forecast for the following numbers?

A

300

6
Q

In a bicycle assembly facility, what is the independent forecasted demand?

A

The assembled bicycles

7
Q

When forecasting the requirements for kitchen tables, the demand for complete tables vs. the demand for table legs is:

A

Independent demand vs. dependent demand

8
Q

The term often used to describe demand forecasting and inventory control together is:

A

Demand planning

9
Q

When calculating forecast error, forecasts that are too high and too low balance each other out and indicate a more accurate forecast than actually occurred. To account for this, companies use what kind of forecast error for each period?

A

Absolute

10
Q

A flaw or drawback of the simple moving average is when:

A

Equal weights are included for each time period

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