CPIM Master Planning of Resources 2

Question 1

What is a 'planning bill of materials' used for in master scheduling?

Accepted Answer

To represent a family of products for aggregate planning purposes

Answer

A planning BOM is an artificial grouping of items used to facilitate master scheduling for product families with common components.

Question 2

Which forecasting method calculates the average of the most recent 'n' periods?

Accepted Answer

Simple moving average

Answer

Simple moving average averages a set number of the most recent data periods, dropping the oldest as a new period is added.

Question 3

Mean Absolute Deviation (MAD) is used in forecasting to measure:

Accepted Answer

The average absolute difference between forecasted and actual demand

Answer

MAD measures forecast accuracy by averaging the absolute values of individual forecast errors, regardless of direction.

Question 4

What does a 'tracking signal' in forecasting detect?

Accepted Answer

Whether forecasts are consistently biased in one direction

Answer

A tracking signal monitors the cumulative forecast error to detect when a model is consistently over- or under-forecasting.

Question 5

In master planning, 'time phasing' means:

Accepted Answer

Scheduling supply and demand across specific future time periods

Answer

Time phasing assigns quantities of supply and demand to specific future time periods, enabling planners to see imbalances over time.

CPIM - Certified in Production and Inventory Management Practice Test