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WorksheetsOM- Midterm Examination
Total questions: 35
Worksheet time: 21mins
Revenue Management used to make appropriate decisions for business pricing and distribution.
TRUE
FALSE
When demand exceeds the optimal supply level, errors starts to occur, and the service quality starts to decline.
TRUE
FALSE
RM involves using analytics and performance data to help business predict their customers behavior.
TRUE
FALSE
Inventory management requires knowing what product are in your inventory and where they are located within your warehouse.
TRUE
FALSE
RevPATH translate into the product of capacity utilization and average revenue per service transaction on the demand side.
TRUE
FALSE
Managing demand is the act of identifying, acquiring and managing resources and suppliers that are essential to the operations of an organization.
TRUE
FALSE
The RevPAR measures the total operating revenue / number of available seat miles.
TRUE
FALSE
Strategic capacity inventory is how companies figure out the production capacity needed in order to meet consumer demand.
TRUE
FALSE
Distribution channel also called a marketing channel.
TRUE
FALSE
When the demand exceeds the maximum available capacity, quality of service deteriorates significantly because staff are stretched to the limit.
TRUE
FALSE
This method uses summative metrics to forecast the aggregated sales first and then estimates the individuals sales for particular products and services.
BOTTOM-UP METHOD
TOP-DOWN METHOD
UPSIDE DOWN METHOD
These are any software applications that assists in the process of gathering, identifying and analyzing business requirements.
Revenue Management
Inventory Management
Business Analytical Tools
It specializes in forecasting and predictive analytics, particularly for the food and beverage industry.
FACTIC
FANTIC
FASTIC
Which is NOT and external factor for forecasting?
Natural disasters
Corporate Culture
competitions
It is how much of that product, items, commodity or service consumers are willing and able to purchase at a particular price.
Demand
Supply
Capacity
It pertains how much of the producers of a product or service are willing to produce and can provide to the market.
Demand
Supply
Capacity
Which of the following is an example of a statistical tools?
SAS
OUTLOOK
ONENOTE
Which is NOT a characteristics of yield management?
Fluctuating demand
Segmented Markets
Decreased Errors
This method uses summative metrics to forecast the individual sales of particular products and service first and then calculates the aggregated sales by summing the detailed forecasts.
BOTTOM-UP METHOD
TOP-DOWN METHOD
UPSIDE DOWN METHOD
It is an approach that emerged to maximize revenue by addressing the challenges of managing demand and supply through forecasting.
FORECASTING
INVETORY CONTROL
YIELD MANAGEMENT
The (a) encompasses when to reorder products and how much product to order to avoid either stockouts or holding too much inventory.
MAXLOS stands for...
(a)
It is also called as cost-benefit analysis that compares the total revenue of those different pieces of business to determine which price of business bring the most value to the business.
(a)
DSS stands for (a)
It is the process of managing a company’s inventory levels, whether that be in their own warehouse or spread over other locations.
(a)
It is the difference between the actual demand and the forecast, and it is often determining the forecast performance.
(a)
It refers to a practice where a company, such as an airline or hotel, sells more reservations than the actual number of available sets or rooms.
(a)
CTA stands for (a)
It is a process of optimizing profits by segmenting the market using rate fences.
(a)
PMS stands for (a)
It refers to a systems potential for producing goods or delivering services over a specified time interval.
(a)
The goal of (a) is to optimize revenue by optimizing capacity, rates, prices, and distribution under current and future supply and demand market conditions.
The goal of (a) is to maximize the capacity utilization is terms of rooms, services such as food and beverages outlets and function space.
The adoption of differential pricing smooths demand by either stimulating of time.
(a)
They are forecasting methods that are subjective or qualitative in nature.
(a)
