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30 - ANS A company operates 365 days a year. Annual inventory turn is 12. How many days of supply does that represent? $1,120,000 - ANS Average inventory last year was $160,000 and turns were 7. What was cost of goods sold last year? 86 - ANS A distribution center has $120,000 pounds of rock salt and the forecast is 1,400 pounds of rock salt per day. What is the estimate of the days of supply $60,000 - ANS the inventory holding cost factor is 30% and the ...

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Supply chain management • Supply chain management

Supply Chain Final Exam - True/False Questions And Answers

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Supply chain coordination requires each stage of the supply chain to take into account the impact its actions have on other stages. - ANS True With an uncoordinated supply chain each stage tries to maximize its own profits, resulting in actions that often increase total supply chain surplus. - ANS False The bullwhip effect results in improved supply chain coordination. - ANS False The bullwhip effect enables different stages of the supply chain to have a consiste...

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Supply chain management • Supply chain management

Supply Chain Management Final Exam, Ch. 1-12 Exam Questions And Answers

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The objective of Walmart's early network design strategy was to: a. Place stores in "high potential" markets b. Locate stores close to a Distribution Center c. Locate stores close to Bentonville d. Use supply chain savings to drive temporary price reductions - b. Locate stores close to a DC Which of the following is a theme throughout the course? a. Supply chain management is the same thing as logistics, just a newer term b. Logistics is just another term for transportation c....

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Supply chain management • Supply chain management

Supply Chain Final Exam (old test questions)100% Correct !!!

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1. Two kinds of customers walk into grizzly fly fishing shop: college freshman taking a first time class and high end professionals with fishing experience, in order to deliver most value to each of these customers, john should: - ANS a. Focus on creating supply chains that deliver the specific form, time and place utility that each customer segment is looking for, at a price that each segment is willing to pay 1. Among the following examples, which refers mostly to the place utility ...

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Supply chain management • Supply chain management

Operations and Supply Chain Management final Exam Que & Ans

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Which aspect of quality is demonstrated by a vehicle that has a useful life of 165,000 miles? - ANS Durability A quality improvement team is trying to illustrate to upper management how a process is varying over time as measurements are collected.Which two statistical process control (SPC) tools should the team use? - ANS Run charts Control charts The CEO of a service company wants to change the strategy of the company from volume sales to high-quality products. Which phil...

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Supply chain management • Supply chain management

SCM 3123 Final Exam Q questions And Answers

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what is supply chain management - ANS Efficient integration of suppliers, manufacturers, transporters, warehouses, retailers and all other parties associated with delivery of the final product what are key steps in supply chain - ANS procurement, operations, logistics procurement/purchasing (buy it) - ANS process of obtaining services, supplies and equipment in conformance with corporate regulation operations (make it) - ANS design, operation and improvem...

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Supply chain management • Supply chain management

Supply Chain Final Exam UARK Questions And Answers

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walmart supply chain strategy - ANS closer to DC, cheaper land, lower transportation costs logistics - ANS management of the flow and storage of inventory such that total cost is minimized and customer service targets are achieved SCM - ANS integration of business processes between functions in a firm and with suppliers and customers activity - ANS inputs, outputs, controls, mechanisms process improvement and redesign - ANS concerned with incre...

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Supply chain management • Supply chain management

operations and supply chain management final exam Questions And Answers

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Which of the following statements about operations management processes is NOT true? - ANS Outputs of operations management processes are always tangible goods. Operations management and supply chain management has grown because - ANS Technology has facilitated globalization. Operations management is important because - ANS It affects the quality of life of workers and consumers. Which of the following statements best describes "process thinking"? - ANS ...

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SCM Final Exam CSU Exam Questions And Answers

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• Define forecasting and the goals of forecasting. - ANS Forecasting provides an estimate of future demand. Its goal is to minimize forecasting error in order to match supply and demand • List the benefits of improved forecasts. - ANS Lower inventories, Reduced stock-outs, Smoother production plans, Reduced costs, Improved customer service • Qualitative Forecast - ANS Usually used when data is limited, unavailable, or irrelevant. Depends on skill & experience ...

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Supply Chain Management Final Exam: Multiple Choice Exam Questions And Answers

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The bullwhip effect causes: - ANS a. a loss of supply chain coordination. b. distortion of demand information within the supply chain. c. different stages of the supply chain to have a very different estimate of what demand looks like. The lack of coordination hurts both responsiveness and cost in a supply chain by making it more expensive to provide a given level of product availability. The impact of the lack of coordination includes - ANS a. manufacturing cost. b. inven...

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