Question 1

A common disruption of the external supply chain is product and service mix changes.

Accepted Answer

A) True 
 B)False

Question 2

The average inventory at Hamilton Industries, comprising raw materials, work- in- process, and finished goods, was found to be $17.2 million last year. If the cost of goods sold per week averaged $1.32 million, what was the inventory turnover experienced by Hamilton Industries? Assume the company had 50 working weeks per year.

Accepted Answer

A)  less than or equal to 3.50 
B)  greater than or equal to 3.50 but less than 3.75 
C)  greater than or equal to 3.75 but less than 4.00 
D)  greater than or equal to 4.00 
A)  less than or equal to 3.50 
B)  greater than or equal to 3.50 but less than 3.75 
C)  greater than or equal to 3.75 but less than 4.00 
D)  greater than or equal to 4.00

Question 3

Supply- chain management is the synchronization of firm's processes and those of its suppliers to match the flow of materials, services, and information with customer demand.

Accepted Answer

A) True 
 B)False

Question 4

Value analysis is a systematic effort to reduce the cost or improve the performance of products or services.

Accepted Answer

A) True 
 B)False

Question 5

Which location movement would fall under forward placement?

Accepted Answer

A)  from the retailer to the manufacturer 
B)  from the wholesaler to the manufacture 
C)  from the retailer to the wholesaler 
D)  from the manufacturer to a distribution center 
A)  from the retailer to the manufacturer 
B)  from the wholesaler to the manufacture 
C)  from the retailer to the wholesaler 
D)  from the manufacturer to a distribution center

Question 6

Henderson Corporation is a supplier of alloy ball bearings to auto manufacturers in Windsor. Because of the specialized manufacturing process employed, considerable work- in- process and raw material inventories are created. The current inventory levels are $1,152,000 and $2,725,000, respectively. In addition, finished goods inventory is $3,225,000, and sales (at cost) for the current year are expected to be about $24 million. The inventory turnover that Henderson Corporation is currently expecting is

Accepted Answer

A)  less than 2.0. 
B)  greater than or equal to 2.0 but less than 2.5. 
C)  greater than or equal to 2.5 but less than 3.0. 
D)  greater than or equal to 3.0. 
A)  less than 2.0. 
B)  greater than or equal to 2.0 but less than 2.5. 
C)  greater than or equal to 2.5 but less than 3.0. 
D)  greater than or equal to 3.0.

Question 7

Because of the bull- whip effect, ordering patterns in supply chains typically show less variance the further upstream you move in the supply chain.

Accepted Answer

A) True 
 B)False

Question 8

______ is an inventory measure obtained by dividing annual sales at cost by the average aggregate inventory value maintained during the year.

Accepted Answer

The answer of ______ is an inventory measure obtained by...

Question 9

Briefly describe competitive orientation, as it applies to supplier relations.

Accepted Answer

Competitive orientation is a supplier re

Question 10

The bull- whip effect is the general tendency toward increasing variation in demand and inventory levels as you move further away from the end customer in the supply chain.

Accepted Answer

A) True 
 B)False

Question 11

The customer relationship process addresses the interface between the supplier and its customers downstream in the supply chain.

Accepted Answer

A) True 
 B)False

Question 12

Sole sourcing of an item is never a good tactic.

Accepted Answer

A) True 
 B)False

Question 13

A common disruption of the internal supply chain is information errors.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following best describes vendor managed inventory?

Accepted Answer

A)  There is minimal purchasing- oriented paperwork. 
B)  The supplier delivers only what the customer needs. 
C)  There is only one supplier for all units of a particular product. 
D)  The supplier maintains the inventory for the buyer. 
A)  There is minimal purchasing- oriented paperwork. 
B)  The supplier delivers only what the customer needs. 
C)  There is only one supplier for all units of a particular product. 
D)  The supplier maintains the inventory for the buyer.

Question 15

The percentage of incomplete orders shipped is a performance measure for the purchasing process of supply chain management.

Accepted Answer

A) True 
 B)False

Question 16

What is inventory turnover?

Accepted Answer

A measure of the rate at which

Question 17

Which one of the following statements on inventory placement of finished goods is best?

Accepted Answer

A)  Forward placement might help reduce transportation cost. 
B)  Backward placement is consistent with a competitive priority that calls for fast delivery times. 
C)  Forward placement is consistent with a competitive priority that calls for customization. 
D)  Inventory pooling should be avoided when demand in various regions fluctuates month to month. 
A)  Forward placement might help reduce transportation cost. 
B)  Backward placement is consistent with a competitive priority that calls for fast delivery times. 
C)  Forward placement is consistent with a competitive priority that calls for customization. 
D)  Inventory pooling should be avoided when demand in various regions fluctuates month to month.

Question 18

A cross- docking warehouse holds inventory from manufacturers until retailers are prepared to sell the items.

Accepted Answer

A) True 
 B)False

Question 19

______ is a supplier relation in which the buyer and seller are partners, each helping the other as much as possible.

Accepted Answer

Cooperativ

Question 20

The new service or product development process is a core process that fundamentally shapes the supply chain.

Accepted Answer

A) True 
 B)False

A common disruption of the external supply chain is product and service mix changes.

Supply- chain management is the synchronization of firm's processes and those of its suppliers to match the flow of materials, services, and information with customer demand.

Value analysis is a systematic effort to reduce the cost or improve the performance of products or services.

Which location movement would fall under forward placement?

Because of the bull- whip effect, ordering patterns in supply chains typically show less variance the further upstream you move in the supply chain.

______ is an inventory measure obtained by dividing annual sales at cost by the average aggregate inventory value maintained during the year.

Briefly describe competitive orientation, as it applies to supplier relations.

The bull- whip effect is the general tendency toward increasing variation in demand and inventory levels as you move further away from the end customer in the supply chain.

The customer relationship process addresses the interface between the supplier and its customers downstream in the supply chain.

Sole sourcing of an item is never a good tactic.

A common disruption of the internal supply chain is information errors.

Which of the following best describes vendor managed inventory?

The percentage of incomplete orders shipped is a performance measure for the purchasing process of supply chain management.

What is inventory turnover?

Which one of the following statements on inventory placement of finished goods is best?

A cross- docking warehouse holds inventory from manufacturers until retailers are prepared to sell the items.

______ is a supplier relation in which the buyer and seller are partners, each helping the other as much as possible.

The new service or product development process is a core process that fundamentally shapes the supply chain.

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

A common disruption of the external supply chain is product and service mix changes.

Supply- chain management is the synchronization of firm's processes and those of its suppliers to match the flow of materials, services, and information with customer demand.

Value analysis is a systematic effort to reduce the cost or improve the performance of products or services.

Which location movement would fall under forward placement?

Because of the bull- whip effect, ordering patterns in supply chains typically show less variance the further upstream you move in the supply chain.

______ is an inventory measure obtained by dividing annual sales at cost by the average aggregate inventory value maintained during the year.

Briefly describe competitive orientation, as it applies to supplier relations.

The bull- whip effect is the general tendency toward increasing variation in demand and inventory levels as you move further away from the end customer in the supply chain.

The customer relationship process addresses the interface between the supplier and its customers downstream in the supply chain.

Sole sourcing of an item is never a good tactic.

A common disruption of the internal supply chain is information errors.

Which of the following best describes vendor managed inventory?

The percentage of incomplete orders shipped is a performance measure for the purchasing process of supply chain management.

What is inventory turnover?

Which one of the following statements on inventory placement of finished goods is best?

A cross- docking warehouse holds inventory from manufacturers until retailers are prepared to sell the items.

______ is a supplier relation in which the buyer and seller are partners, each helping the other as much as possible.

The new service or product development process is a core process that fundamentally shapes the supply chain.

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