ASCM 632, Contemporary Logistics
Final Examination
Multiple Choice Questions: Please highlight the correct answer in each question. 2 points each.
1. ____ refers to stocks of goods and materials that are maintained for many purposes, the most
common being to satisfy normal demand patterns.
a. logistics
b. supply chain management
c. inventory
d. production
2. Holding high levels of inventory result in ____ inventory carrying costs and ____ stockout
costs.
a. high; high
b. high; low
c. low; high
d. low; low
3. ____ stock refers to inventory that is needed to satisfy normal demand during the course of an
order cycle.
a. base
b. speculative
c. pipeline
d. safety
4. ____ stock refers to inventory that is held in addition to cycle stock to guard against
uncertainty in demand and/or lead time.
a. base
b. pipeline
c. speculative
d. buffer
5. ____ stock refers to inventory that is en route between various nodes in a logistics system.
a. base
b. safety
c. speculative
d. cycle
e. none of the above
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, ASCM 632, Contemporary Logistics
Final Examination
6. ____ stock refers to inventory that is held for several reasons, to include seasonal demand,
projected price increases, and potential shortages of product.
a. base
b. safety
c. pipeline
d. speculative
7. ____ stock is carried to stimulate demand.
a. base
b. psychic
c. speculative
d. attractive
e. none of the above
8. Inventory costs in the United States in the twenty-first century represent approximately ____
of total logistics costs.
a. one-fifth
b. one-fourth
c. one-third
d. one-half
9. All of the following statements are true, except:
a. the importance of individual carrying costs factors (categories) is generally
consistent from product to product
b. inventory carrying costs consist of a number of different components or factors
c. in general, companies prefer to carry less inventory as carrying costs increase
d. in general, inventory carrying costs are expressed in percentage terms
d. all of the above are true
10. Inventory carrying costs in the United States in the twenty-first century have ranged between
____ and ____ percent.
a. 4; 9
b. 9; 14
c. 14; 19
d. 19; 24
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Final Examination
Multiple Choice Questions: Please highlight the correct answer in each question. 2 points each.
1. ____ refers to stocks of goods and materials that are maintained for many purposes, the most
common being to satisfy normal demand patterns.
a. logistics
b. supply chain management
c. inventory
d. production
2. Holding high levels of inventory result in ____ inventory carrying costs and ____ stockout
costs.
a. high; high
b. high; low
c. low; high
d. low; low
3. ____ stock refers to inventory that is needed to satisfy normal demand during the course of an
order cycle.
a. base
b. speculative
c. pipeline
d. safety
4. ____ stock refers to inventory that is held in addition to cycle stock to guard against
uncertainty in demand and/or lead time.
a. base
b. pipeline
c. speculative
d. buffer
5. ____ stock refers to inventory that is en route between various nodes in a logistics system.
a. base
b. safety
c. speculative
d. cycle
e. none of the above
This study source was downloaded by 100000805030033 from CourseHero.com on 03-07-2022 06:30:48 GMT -06:00 1
https://www.coursehero.com/file/32185235/Final-Exam-Students-Spring-2018doc/
, ASCM 632, Contemporary Logistics
Final Examination
6. ____ stock refers to inventory that is held for several reasons, to include seasonal demand,
projected price increases, and potential shortages of product.
a. base
b. safety
c. pipeline
d. speculative
7. ____ stock is carried to stimulate demand.
a. base
b. psychic
c. speculative
d. attractive
e. none of the above
8. Inventory costs in the United States in the twenty-first century represent approximately ____
of total logistics costs.
a. one-fifth
b. one-fourth
c. one-third
d. one-half
9. All of the following statements are true, except:
a. the importance of individual carrying costs factors (categories) is generally
consistent from product to product
b. inventory carrying costs consist of a number of different components or factors
c. in general, companies prefer to carry less inventory as carrying costs increase
d. in general, inventory carrying costs are expressed in percentage terms
d. all of the above are true
10. Inventory carrying costs in the United States in the twenty-first century have ranged between
____ and ____ percent.
a. 4; 9
b. 9; 14
c. 14; 19
d. 19; 24
This study source was downloaded by 100000805030033 from CourseHero.com on 03-07-2022 06:30:48 GMT -06:00 2
https://www.coursehero.com/file/32185235/Final-Exam-Students-Spring-2018doc/
