Forecast And S&OP – Quiz Processes
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- 1.
- A.
Change forecast based on historical data
- B.
Share information with production
- C.
Consolidate events - Adding local market intelligence
- D.
Change forecast based on capacity limitations
Correct Answer
C. Consolidate events - Adding local market intelligenceExplanation
Consolidating events and adding local market intelligence allows for a more accurate forecast. By gathering information from various sources and incorporating local market knowledge, the forecast can be adjusted to reflect specific factors that may impact demand or production. This approach helps to ensure that the forecast is more reliable and can lead to better decision-making in terms of production planning and resource allocation.Rate this question:
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- 2.
- A.
Increase demand forecasts in an intend to cover unpredictability
- B.
Amendments to statistical forecast should be based on specific insights
- C.
Make the forecast fit another plan which e.g. represents what we wish to sell – if it is not realistic
- D.
Spend a lot of resource on micro adjust figures based on hitches
Correct Answer
B. Amendments to statistical forecast should be based on specific insightsExplanation
The correct answer is "Amendments to statistical forecast should be based on specific insights." This answer suggests that when making amendments to a statistical forecast, it is important to have specific insights or information that can guide the adjustments. This means that the changes should not be made randomly or without any rationale, but rather should be based on relevant and specific information that can help improve the accuracy of the forecast.Rate this question:
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- 3.
- A.
Load new demand history data into APO
- B.
Make corrections to the historical data to fit the new forecast in APO
- C.
Copy the old forecast into APO
- D.
Load the financial forecast into APO
Correct Answer
A. Load new demand history data into APOExplanation
The correct answer is to load new demand history data into APO. This is because in order to make accurate forecasts and predictions, it is important to have the most up-to-date and relevant data. By loading new demand history data into APO, the system will have access to the latest information to make more accurate forecasts and improve decision-making processes.Rate this question:
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- 4.
- A.
Use EXCEL to calculate new statistical models before uploading the historical data
- B.
Wait for the data to be available in APO to make a sanity check
- C.
Make changes to the historical data before uploading
- D.
Sanity check based on current knowledge before uploading the file
Correct Answer
D. Sanity check based on current knowledge before uploading the fileExplanation
The correct answer suggests that before uploading the file, it is important to perform a sanity check based on current knowledge. This means reviewing the data and ensuring that it aligns with the expected patterns and trends. By conducting a sanity check, any obvious errors or discrepancies can be identified and corrected before the data is uploaded. This helps to ensure the accuracy and reliability of the data being uploaded.Rate this question:
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- 5.
- A.
Collaborative analyses
- B.
Historical data analyses
- C.
Update forecasting tools
- D.
Capacity management
Correct Answer
A. Collaborative analysesExplanation
Collaborative analyses involve working together with different stakeholders to analyze data and make informed decisions. This approach allows for a more comprehensive and diverse perspective, leading to better insights and outcomes. It helps in identifying patterns, trends, and potential issues, and allows for the development of effective strategies and solutions. Collaborative analyses also promote knowledge sharing and learning among team members, fostering a culture of collaboration and continuous improvement.Rate this question:
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- 6.
- A.
B & C segment
- B.
X & Z Segment
- C.
X & Y segment
- D.
All segments will benefit greatly with statistical forecasting
Correct Answer
C. X & Y segmentExplanation
The answer "X & Y segment" is correct because statistical forecasting can be beneficial for all segments, including X and Y. It helps in predicting future trends and patterns based on historical data, which can aid in making informed decisions and planning strategies. By using statistical forecasting, companies in the X and Y segments can optimize their operations, improve inventory management, and enhance overall efficiency.Rate this question:
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- 7.
- A.
Local Demand Planner
- B.
Country Management
- C.
Global Demand Planner
- D.
Product Manager
Correct Answer
C. Global Demand PlannerExplanation
A Global Demand Planner is responsible for analyzing market trends and customer demand on a global scale. They collaborate with various teams and stakeholders to develop accurate demand forecasts and ensure that supply meets demand. This role requires a deep understanding of the global market, as well as strong analytical and communication skills. A Global Demand Planner plays a crucial role in optimizing inventory levels, minimizing costs, and maximizing customer satisfaction.Rate this question:
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- 8.
- A.
Move data to excel to make a control calculation of the new forecasting models
- B.
Load new demand history data into APO
- C.
Have alignment meetings with Product Managers and Marketing
- D.
Sharing results of the process to key stakeholders
Correct Answer
D. Sharing results of the process to key stakeholdersExplanation
The correct answer is "Sharing results of the process to key stakeholders." This answer is appropriate because it is the final step in the given list of actions. After moving data to excel, loading new demand history data into APO, and having alignment meetings with Product Managers and Marketing, the logical next step would be to share the results of the process with key stakeholders. This ensures that the stakeholders are informed about the outcomes and can make informed decisions based on the results.Rate this question:
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- 9.
- A.
Update current forecasting tools with the historical data
- B.
Meet with finance to get input to the current forecast
- C.
Collect sales driven events from Sales
- D.
Talk to country management to get input to the S&OP meeting
Correct Answer
C. Collect sales driven events from SalesExplanation
The correct answer is "Collect sales driven events from Sales." This is because collecting sales driven events from the sales team will provide valuable information about any factors that may have influenced sales in the past. This data can then be used to improve forecasting accuracy and make more informed decisions in the future. Meeting with finance, updating forecasting tools, and getting input from country management are also important steps in the forecasting process, but collecting sales driven events directly from the sales team is specifically mentioned in the question.Rate this question:
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- 10.
- A.
Global Demand Planner
- B.
Country Finance controller
- C.
Local Demand Planner
- D.
Product Manager and Marketing
Correct Answer
C. Local Demand PlannerExplanation
A Local Demand Planner is responsible for analyzing market trends and customer demand at a local level, and creating forecasts and plans to meet that demand. They work closely with sales and marketing teams to understand customer needs and preferences, and collaborate with supply chain and production teams to ensure adequate inventory levels. This role is crucial in ensuring that products are available in the right quantities and at the right time, minimizing stockouts and excess inventory. Therefore, a Local Demand Planner would be the most suitable role to handle demand planning at a local level.Rate this question:
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- 11.
- A.
Spend time adjusting prices when the changes are minor
- B.
Focus on facts based events: campaigns, tenders etc.
- C.
Increase forecasts in order to cover for best case sales scenarios
- D.
Be part of an over-optimistic sales atmosphere
Correct Answer
B. Focus on facts based events: campaigns, tenders etc.Explanation
The correct answer is "Focus on facts based events: campaigns, tenders etc." This answer suggests that it is important to prioritize and focus on events or situations that are based on facts rather than getting caught up in an over-optimistic sales atmosphere. By focusing on facts-based events such as campaigns and tenders, one can make more informed decisions and allocate resources effectively. This approach ensures that time and effort are spent on areas that have a higher likelihood of success and yield better results.Rate this question:
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- 12.
- A.
Local Demand Planner
- B.
Finance controller
- C.
Product Manager
- D.
Global Demand Planner
Correct Answer
D. Global Demand PlannerExplanation
A global demand planner is responsible for analyzing market trends and forecasting demand for products on a global scale. They work closely with sales, marketing, and supply chain teams to ensure that the right amount of products are available in each region to meet customer demand. This role requires a deep understanding of global markets, customer behavior, and supply chain dynamics. A global demand planner plays a crucial role in optimizing inventory levels, minimizing stockouts, and maximizing sales and profitability for the company on a global scale.Rate this question:
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- 13.
- A.
Get the most likely forecasts for the new products. Identify also best case and worst case so that you can work together with plants and S&OP team on mitigating risks
- B.
Mitigate the input from Marketing
- C.
Forecast the best case scenario in order to avoid any lost sales
- D.
Forecast the worst case scenario in order to avoid scrapping
Correct Answer
A. Get the most likely forecasts for the new products. Identify also best case and worst case so that you can work together with plants and S&OP team on mitigating risksExplanation
The correct answer suggests that the most likely forecasts for the new products should be obtained. Additionally, the best case and worst case scenarios should be identified in order to work together with plants and the S&OP team to mitigate risks. This approach allows for a comprehensive understanding of potential outcomes and enables proactive measures to be taken to prevent lost sales or scrapping.Rate this question:
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- 14.
- A.
Update Master data
- B.
Add buffer to final forecasts for covering for additional sales
- C.
Review statistical forecasting models
- D.
Approval of the Final Forecasts
Correct Answer
D. Approval of the Final ForecastsExplanation
The given answer "Approval of the Final Forecasts" suggests that one of the steps in the process is to obtain approval for the final forecasts. This implies that there is a need for validation or authorization before considering the forecasts as final and accurate. It could be a crucial step to ensure that the forecasts are reliable and can be used for decision-making purposes.Rate this question:
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- 15.
- A.
1. Final review and if any last changes to the forecast 2. Ensure alignment with key stakeholders in business
- B.
1. Have alignments meetings with Product Managers and Marketing 2. Update the statistical forecasting models
- C.
1. Get the latest information from the people closest to the market 2. Challenge their input based on historical facts
- D.
1. Get the updated forecast for any new products from marketing 2. Get the latest SAP APO information on new products from Global Demand Planning if necessary
Correct Answer
A. 1. Final review and if any last changes to the forecast 2. Ensure alignment with key stakeholders in businessExplanation
The correct answer is to have alignment meetings with Product Managers and Marketing, and to update the statistical forecasting models. This ensures that the forecast is reviewed one final time and any necessary changes are made. It also ensures that key stakeholders in the business, such as Product Managers and Marketing, are involved in the forecasting process and their input is taken into account. By updating the statistical forecasting models, the forecast can be adjusted based on historical data and any new information obtained from the market or SAP APO.Rate this question:
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- 16.
- A.
Local Finance controller
- B.
Senior Management
- C.
Local Demand Planner & Product Managers
- D.
Global Demand Planner
Correct Answer
C. Local Demand Planner & Product ManagersExplanation
The correct answer is Local Demand Planner & Product Managers. This is because the Local Demand Planner and Product Managers are responsible for understanding the local market and customer demand. They work closely with the Senior Management and Global Demand Planner to develop and execute strategies to meet the demand and optimize the supply chain. Their expertise in local market dynamics and product knowledge makes them key stakeholders in the decision-making process.Rate this question:
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- 17.
- A.
Have different sets of forecasts across the organization
- B.
Have a well documented forecasting suggestions ready
- C.
Share the forecast with the plants even if it is not endorsed by country management
- D.
Spend resource on adjusting figures to be within accepted limits
Correct Answer
B. Have a well documented forecasting suggestions readyExplanation
Having a well-documented forecasting suggestion ready is important because it allows for consistency and accuracy in forecasting across the organization. This ensures that everyone is working from the same information and can make informed decisions based on reliable data. It also helps in tracking and analyzing the accuracy of the forecasts over time, identifying any patterns or trends that can be used to improve future forecasts. Additionally, having a well-documented suggestion ready saves time and resources as it eliminates the need for constant adjustments and revisions.Rate this question:
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- 18.
- A.
1. Get the latest information from the market environment 2. Challenge their input based on previous historical changes
- B.
1. Have alignment meetings with Product Managers and Marketing 2. Create best / worst scenarios for the new products
- C.
1. Get a formal endorsement of the final forecasts both volume & value 2. Communicate “one set of numbers” across the organization
- D.
1. Analyze large deviations between the final forecast and budget 2. Meet the with the country finance controller to create explanations
Correct Answer
C. 1. Get a formal endorsement of the final forecasts both volume & value 2. Communicate “one set of numbers” across the organizationExplanation
The correct answer is to get a formal endorsement of the final forecasts both in volume and value, and to communicate "one set of numbers" across the organization. This ensures that all stakeholders are aligned and have a clear understanding of the forecasted numbers, reducing confusion and potential discrepancies in decision-making. By obtaining formal endorsement, it also adds credibility and accountability to the forecast process.Rate this question:
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- 19.
- A.
Focus on details on the stable products segments
- B.
Request to Global Demand Planning if any SKU’s are missing to the new products
- C.
Add buffer to the forecast to cover possible upsides
- D.
Add events in APO if this is not the most likely scenario
Correct Answer
B. Request to Global Demand Planning if any SKU’s are missing to the new productsExplanation
This answer suggests that if there are any SKU's missing for the new products, it is necessary to request the information from Global Demand Planning. This implies that Global Demand Planning would have the necessary information to determine if any SKU's are missing and can provide the needed data.Rate this question:
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- 20.
- A.
1. Discuss best case scenarios 2. Have capacity meetings with production to check if best case scenarios are feasible
- B.
1. Get the latest information from the people closest to the market 2. Make sure everyone’s expectations are aligned
- C.
1. Analyse large deviations between the events from sales and budget assumptions 2. Adjust the events from sales to reduce deviations
- D.
1. Analyse large deviations between the events from sales and budget assumptions 2. Meet with the country finance controller to create explanations
Correct Answer
B. 1. Get the latest information from the people closest to the market 2. Make sure everyone’s expectations are alignedExplanation
The correct answer suggests that in order to ensure accurate and up-to-date information, it is important to gather the latest information from the people closest to the market. This can help in making informed decisions and aligning everyone's expectations. By gathering insights from those who have direct knowledge and experience in the market, the organization can make more accurate forecasts and plans for the future.Rate this question:
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Current Version
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Mar 21, 2023Quiz Edited by
ProProfs Editorial Team -
Apr 08, 2015Quiz Created by
THJE
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