BUAD 331 EXAM 3 WITH COMPLETE QUESTIONS AND ANSWERS 2024.

BUAD 331 EXAM 3 WITH COMPLETE QUESTIONS AND ANSWERS 2024. What is the process around the interface between the customer demand creation and supply creation of form, time, and place value to fulfill that demand? - ANSWER Order Cycle 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 - ANSWER d.) lead time gap What is the total elapsed time from when the customer first recognizes need to when that need is ultimately fulfilled? - ANSWER order cycle time What is is the technique based on anticipating the form, time, and place characteristics of demand in advance of actual orders? - ANSWER anticipatory or efficient technique What does EOQ stand for? - ANSWER Economic Order Quantity What 2 competing costs curves associated with order fulfillment does the EOQ model seek to balance? - ANSWER 1.) order or setup costs 2.) costs of carrying inventory As order quantity increases, order or setup costs ______________. - ANSWER decrease. Are the costs below part of the a.) order or setup costs, or b.) costs of carrying inventory? These costs are incurred every time an order is placed, or production is set up. Includes the administrative costs associated with locating sources of supply and moving supplies to the location they are needed and/or the operating costs brought with setting up equipment to build the appropriate product. The cost is BUAD 331 EXAM 3 WITH COMPLETE QUESTIONS AND ANSWERS 2024 calculated per order; it varies with the quantity of product ordered at any one point. - ANSWER a.) order or setup costs Are the costs below part of the a.) order or setup costs, or b.) costs of carrying inventory? These costs include the cost of handling inventory, the costs of the facility where it is held, utility costs to keep it cool/warm, insure it, pay taxes on it, and incur the cost of the time value of money actually tied up in the investment. ___________ _________ are greatest when ordering a large quantity at any one time since it all arrives at the same time and must be handled in advance of demand. - ANSWER b.) costs of carrying inventory (2 blanks are "carrying costs")