BUAD 331 Exam 3 Questions and Answers 2024

Which of the following is not a technique for fulfilling customer orders? A. Supply cycle time B. Anticipate form, time, and place C. Full Postponement D. Make to stock, postpone time/place - Correct Answer A. Supply cycle time Define order cycle time. A. The total cost of ownership combined with the customer value of a product B. The total elapsed time from when the customer first recognizes need to when that need is ultimately fulfilled C. The total elapsed time from when the customer first orders the product to when that product is shipped to them D. None of the above - Correct Answer B. The total elapsed time from when the customer first recognizes need to when that need is ultimately fulfilled The difference between the customer's desired order cycle time and the total supply chain order cycle time is known as: A. order cycle time B. logistics lead time C. customer delivery cycle D. lead time gap - Correct Answer D. lead time gap Ted's Wicked Dive Shop needs to put together a re-order plan for breathing regulators. Given that this product is high cost and highly customized in order to meet the unique demands of different divers, Ted should utilize which of the following strategies? A. Order regulators when all existing stock reaches the re-order point (ROP) B. Order product from the supplier that gives him the best price at the time of order C. Order regulators twice per year to keep set-up and order placement costs to a minimum D. Order regulators based on actual customer orders and work with supplier-partners to quickly configure and ship the regulators directly to customers E. Order regulators in bulk using a manufacturing demand forecast model coupled with a long lead-time based EOQ to take advantage of manufacturing and transportation discounts - Correct Answer D. Order regulators based on actual customer orders and work with supplier-partners to quickly configure and ship the regulators directly to customers If average daily demand for a product is 5 units and average lead time for an order to arrive is 7 days, what is the reorder point (ROP) for the product? A. 21 units B. 12 units C. 7 units