Question 1

Sole sourcing is the awarding of a contract for an item or service to only one supplier.

Accepted Answer

A) True 
 B)False

Question 2

______ is the management of the acquisition process, which includes deciding which suppliers to use, negotiating contracts, and deciding whether to buy locally.

Accepted Answer

The answer of ______ is the management of the acquisition...

Question 3

Centralized purchasing is more likely to be followed for commodity- based purchases than for specialized parts and services.

Accepted Answer

A) True 
 B)False

Question 4

Describe value analysis.

Accepted Answer

A systematic effort to reduce

Question 5

Firms in a responsive supply chain are expected to have

Accepted Answer

A)  high inventory investments. 
B)  low- capacity cushions. 
C)  long delivery times. 
D)  flexible flow process. 
A)  high inventory investments. 
B)  low- capacity cushions. 
C)  long delivery times. 
D)  flexible flow process.

Question 6

Efficient supply chains aggressively try to shorten lead time.

Accepted Answer

A) True 
 B)False

Question 7

The practice whereby a manufacturer has inventories of materials on consignment from its suppliers falls under the scope of

Accepted Answer

A)  electronic inventory control. 
B)  vendor- managed inventories. 
C)  virtual distribution. 
D)  inventory pooling control. 
A)  electronic inventory control. 
B)  vendor- managed inventories. 
C)  virtual distribution. 
D)  inventory pooling control.

Question 8

List and describe typical disruptions to the external supply chains.

Accepted Answer

Typical disruptions include volume chang

Question 9

Define EDI.

Accepted Answer

Electronic data interchange is

Question 10

Efficient supply chains work best when contribution margins are high.

Accepted Answer

A) True 
 B)False

Question 11

The performance of a(n) ______ process is directly linked to its capacity and variability
of demand.

Accepted Answer

The answer of The performance of a(n) ______ process is...

Question 12

A television manufacturer would like to reduce its inventory. To this end, you are asked by the operations manager to assess its inventory level. You have the following information on inventories form last year's financial statement: 
Raw materials $ \$ 1,500,000 $
Work-in-process $ \$ 1,200,000 $
Finished goods $ \$ 800,000 $

In addition, the cost of goods sold last year (50 weeks) was $20 million.
a. What is their total inventory (measured as weeks of supply)?
b. What is their inventory turnover?

Accepted Answer

a. Weeks of supply = average aggregate i

Question 13

Efficient supply chain would be preferred when

Accepted Answer

A)  product variety is high. 
B)  competitive priority is customization. 
C)  demand is unpredictable. 
D)  demand is highly predictable. 
A)  product variety is high. 
B)  competitive priority is customization. 
C)  demand is unpredictable. 
D)  demand is highly predictable.

Question 14

The new service/product development process begins with and ends with the
________ of the new offering.

Accepted Answer

The answer of The new service/product development process begins with...

Question 15

______ is a reduction in inventory and safety stock because of the merging of variable demands from customers.

Accepted Answer

The answer of ______ is a reduction in inventory and...

Question 16

Forward placement means locating stock closer to the manufacturing facility.

Accepted Answer

A) True 
 B)False

Question 17

Manufacturing firms typically enter into contracts with Tier 2 suppliers with the expectation that these suppliers will then incorporate the guidelines of these contracts into the agreements they in turn enter into with Tier 1 suppliers.

Accepted Answer

A) True 
 B)False

Question 18

Support the reasons for buying in the make- or- buy decision.

Accepted Answer

The reasons for buying in the make- or-

Question 19

Describe vendor managed inventory (VMI). How is it related to outsourcing? Cite an example from your experiences as a shopper.

Accepted Answer

In vendor managed inventory, the supplie

Question 20

An electronic marketplace where buying and selling firms come together to do business is called a catalog hub.

Accepted Answer

A) True 
 B)False

Sole sourcing is the awarding of a contract for an item or service to only one supplier.

______ is the management of the acquisition process, which includes deciding which suppliers to use, negotiating contracts, and deciding whether to buy locally.

Centralized purchasing is more likely to be followed for commodity- based purchases than for specialized parts and services.

Describe value analysis.

Firms in a responsive supply chain are expected to have

Efficient supply chains aggressively try to shorten lead time.

The practice whereby a manufacturer has inventories of materials on consignment from its suppliers falls under the scope of

List and describe typical disruptions to the external supply chains.

Define EDI.

Efficient supply chains work best when contribution margins are high.

The performance of a(n) ______ process is directly linked to its capacity and variability of demand.

Efficient supply chain would be preferred when

The new service/product development process begins with and ends with the ________ of the new offering.

______ is a reduction in inventory and safety stock because of the merging of variable demands from customers.

Forward placement means locating stock closer to the manufacturing facility.

Manufacturing firms typically enter into contracts with Tier 2 suppliers with the expectation that these suppliers will then incorporate the guidelines of these contracts into the agreements they in turn enter into with Tier 1 suppliers.

Support the reasons for buying in the make- or- buy decision.

Describe vendor managed inventory (VMI). How is it related to outsourcing? Cite an example from your experiences as a shopper.

An electronic marketplace where buying and selling firms come together to do business is called a catalog hub.

Creating Customer Value

Supply Chain Sustainability and Humanitarian Logistics

Process Configuration

Capacity

Waiting Lines

Inventory Management

Quality and Process Improvement

Lean Systems

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Filters

Exam 2: Supply Chain Management

Sole sourcing is the awarding of a contract for an item or service to only one supplier.

______ is the management of the acquisition process, which includes deciding which suppliers to use, negotiating contracts, and deciding whether to buy locally.

Centralized purchasing is more likely to be followed for commodity- based purchases than for specialized parts and services.

Describe value analysis.

Firms in a responsive supply chain are expected to have

Efficient supply chains aggressively try to shorten lead time.

The practice whereby a manufacturer has inventories of materials on consignment from its suppliers falls under the scope of

List and describe typical disruptions to the external supply chains.

Define EDI.

Efficient supply chains work best when contribution margins are high.

The performance of a(n) ______ process is directly linked to its capacity and variability of demand.

Efficient supply chain would be preferred when

The new service/product development process begins with and ends with the ________ of the new offering.

______ is a reduction in inventory and safety stock because of the merging of variable demands from customers.

Forward placement means locating stock closer to the manufacturing facility.

Manufacturing firms typically enter into contracts with Tier 2 suppliers with the expectation that these suppliers will then incorporate the guidelines of these contracts into the agreements they in turn enter into with Tier 1 suppliers.

Support the reasons for buying in the make- or- buy decision.

Describe vendor managed inventory (VMI). How is it related to outsourcing? Cite an example from your experiences as a shopper.

An electronic marketplace where buying and selling firms come together to do business is called a catalog hub.

Creating Customer Value

Supply Chain Sustainability and Humanitarian Logistics

Process Configuration

Capacity

Waiting Lines

Inventory Management

Quality and Process Improvement

Lean Systems

Location and Layout

Managing Demand and Forecasting

Operations Planning and Scheduling

Resource Planning

Filters