Supply Chain Management Exam 2 with Accurate
Solutions
100% Correct 166
Incorrect 0
1 of 166
Definition
-Increased inventory turnovers indicate optimal utilization of space
and inventory levels, increased sales, avoidance of inventory
obsolesce.
-Inventory is an asset but it is also financial capital tied up and not
available for use in other parts of the business
-The purchasing function in an organization is frequently responsible
for Supply Management and therefore plays a large part in the
amount of inventory the company holds.
-Inventory turnover represents the number of times the
company sold through inventory in a given time period.
-Costs of Goods Sold (COGS) ÷ by the Average Inventory
-A high turnover ratio is beneficial because it means the company is
generating sales efficiently to sell inventory.
-A low turnover ratio is unfavorable as it means the company is not
selling through products efficiently. The company is likely
,making/buying too much inventory for demand and may end up
throwing out expired or unsaleable products.
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Manufacturing Processes Voice of the Customer (VOC)
Inventory Turnover Effect W. Edwards Deming
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2 of 166
Definition
1. Make-to-Stock (MTS)
2. Make-to-Order (MTO)
3.Assemble-to-Order (ATO)
4. Engineer-to-Order (ETO)
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Strategic Alliance Development LEAN and Six Sigma overview
Purchasing Process Steps 1-3 Major Manufacturing Strategies
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, 3 of 166
Definition
-Managers must support LEAN Manufacturing by providing
subordinates with the skills, tools, time, and other necessary resources
to identify problems and implement solutions
Give this one a try later!
The Components of LEAN The Components of LEAN
Manufacturing: LEAN Layouts Manufacturing: Waste Reduction
The Components of
LEAN Manufacturing: Key areas of a typical spend analysis
Workforce Commitment
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4 of 166
Definition
-LEAN Manufacturing attempts to reverse this though small batch
scheduling.
--Smaller batches will facilitate producing at the same rate as
customer demand.
--Ideal schedule is to produce every product as quickly as possible
and at the same rate as customer demand
-Production in small batches creates a smooth workload as
, production can be synchronized with customer demand, facilitating a
pull system.
--It increases flexibility allowing the company to respond to changes
in customer demands more quickly.
--Throughput times in manufacturing go down, and Work-in-Process
inventory goes down, reducing costs and eliminating or minimizing
waste in the system.
-Small batch scheduling can be facilitated through the use of LEAN
Manufacturing:
--Kanban's authorize production or the movement of materials to the
next workstation.
--Could be facilitated through the use of a computer software
program, i.e., ERP system.
Give this one a try later!
Manufacturing Processes Make-to-Order (MTO)
Small Batch Scheduling Reasons for Making
Don't know?
Solutions
100% Correct 166
Incorrect 0
1 of 166
Definition
-Increased inventory turnovers indicate optimal utilization of space
and inventory levels, increased sales, avoidance of inventory
obsolesce.
-Inventory is an asset but it is also financial capital tied up and not
available for use in other parts of the business
-The purchasing function in an organization is frequently responsible
for Supply Management and therefore plays a large part in the
amount of inventory the company holds.
-Inventory turnover represents the number of times the
company sold through inventory in a given time period.
-Costs of Goods Sold (COGS) ÷ by the Average Inventory
-A high turnover ratio is beneficial because it means the company is
generating sales efficiently to sell inventory.
-A low turnover ratio is unfavorable as it means the company is not
selling through products efficiently. The company is likely
,making/buying too much inventory for demand and may end up
throwing out expired or unsaleable products.
Give this one a try later!
Manufacturing Processes Voice of the Customer (VOC)
Inventory Turnover Effect W. Edwards Deming
Don't know?
2 of 166
Definition
1. Make-to-Stock (MTS)
2. Make-to-Order (MTO)
3.Assemble-to-Order (ATO)
4. Engineer-to-Order (ETO)
Give this one a try later!
Strategic Alliance Development LEAN and Six Sigma overview
Purchasing Process Steps 1-3 Major Manufacturing Strategies
Don't know?
, 3 of 166
Definition
-Managers must support LEAN Manufacturing by providing
subordinates with the skills, tools, time, and other necessary resources
to identify problems and implement solutions
Give this one a try later!
The Components of LEAN The Components of LEAN
Manufacturing: LEAN Layouts Manufacturing: Waste Reduction
The Components of
LEAN Manufacturing: Key areas of a typical spend analysis
Workforce Commitment
Don't know?
4 of 166
Definition
-LEAN Manufacturing attempts to reverse this though small batch
scheduling.
--Smaller batches will facilitate producing at the same rate as
customer demand.
--Ideal schedule is to produce every product as quickly as possible
and at the same rate as customer demand
-Production in small batches creates a smooth workload as
, production can be synchronized with customer demand, facilitating a
pull system.
--It increases flexibility allowing the company to respond to changes
in customer demands more quickly.
--Throughput times in manufacturing go down, and Work-in-Process
inventory goes down, reducing costs and eliminating or minimizing
waste in the system.
-Small batch scheduling can be facilitated through the use of LEAN
Manufacturing:
--Kanban's authorize production or the movement of materials to the
next workstation.
--Could be facilitated through the use of a computer software
program, i.e., ERP system.
Give this one a try later!
Manufacturing Processes Make-to-Order (MTO)
Small Batch Scheduling Reasons for Making
Don't know?
