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POM 1546. Activity7: 1 Point

1. Forecasts affect planning but not other management functions like demand and sales which can differ due to constraints and decisions. 2. Products early in their life cycle require longer term forecasts than mature or declining products. 3. Through forecasting, organizations attempt to adapt to or change predicted futures through planning.

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Joshua Lokino
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48 views2 pages

POM 1546. Activity7: 1 Point

1. Forecasts affect planning but not other management functions like demand and sales which can differ due to constraints and decisions. 2. Products early in their life cycle require longer term forecasts than mature or declining products. 3. Through forecasting, organizations attempt to adapt to or change predicted futures through planning.

Uploaded by

Joshua Lokino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Forecasts affect planning but not the other

management functions. *

POM 1546. Activity7 1 point


True
Forecasting is predicting the future; therefore, it is False
not concerned at all with the past. * Demand and sales are not always the same due to
1 point constraints such as capacity and other management
True decisions and policies; however, demand forecasts
False
can still be obtained using past sales data. *
Products in the first two stages of their life cycle
1 point
need longer-term forecasts than those in the True
maturity and decline stages. * False
1 point Through forecasting, organizations attempt to adapt
True to or change the future as predicted through
False
planning. *
In the Delphi technique, the members of the panel of
1 point
experts don’t meet and discuss, yet they must reach True
a certain level of agreement in their forecasts. * False
1 point Qualitative or judgmental forecasting models may
True use quantitative data. *
False
1 point
Quantitative forecasting should be preferred over True
qualitative forecasting since they involve False
computations and are, therefore, more accurate. * Both time series and causal forecasting assume
1 point that the past relationship between demand and the
True independent variable(s) will continue on into the
False
future. *
In historical analogy, the product life cycle of an
1 point
existing, similar product is used as the basis in True
forecasting the demand for a new product. * False
1 point In market survey, the present buying behavior and
True future purchasing plans of existing and potential
False
customers are used to forecast demand. *
Medium-term forecasts are used for making
1 point
medium-term decisions related to planning for new True
products, capital expenditures, facility location or False
expansion, and research and development. * Since economic and technological forecasts are
1 point beyond the expertise of an operations manager, he
True should not be concerned about them anymore. *
False
1 point
True
False
If a forecast can be made using a quantitative
model, a forecaster need not use her personal
opinion or subjective judgment anymore. *
1 point
True
False
In the sales force composite method, all the sales
agents of the organization meet together to discuss
until they agree on a common demand forecast. *
1 point
True
False

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