Exam 16: Lean Supply Chain Management

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A _____ system is a production control approach that uses containers, cards, or visual cues to control the production and movement of goods through the supply chain.

(Multiple Choice)

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Question 41

Which of the following is not one of the wrong reasons for investing in inventory?

(Multiple Choice)

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Question 42

Anything less than perfect quality leads to waste.

(True/False)

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Question 43

_____ means that inventory moves through the supply chain continuously with minimal queueing or non-value-adding activity being performed.

(Multiple Choice)

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Question 44

_____ are calculated as Average Inventory in Units x Unit Price x Carrying Cost per Year.

(Multiple Choice)

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Question 45

All of the following are categories of inventory except _____.

(Multiple Choice)

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Question 46

Lean is an easy approach to implement.

(True/False)

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Question 47

In a pull system, an upstream work center or operation will create output regardless whether a downstream center directly requests that output.

(True/False)

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Question 48

It is often difficult to quantify the total costs associated with ordering and carrying physical inventory.

(True/False)

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Question 49

Supply chains are insensitive to changes in markets, including changes in the availability of material supply as well as price changes.

(True/False)

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Question 50

The advantage of consignment to the buyer is the ability to defer ownership and avoid committing working capital and incurring carrying charges.

(True/False)

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Question 51

A major step toward eliminating delivery uncertainty is a commitment to stable release schedules with realistic (but not overly generous) supplier lead times.

(True/False)

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Question 52

Carrying costs do not vary with the level of inventory, which makes these costs fixed.

(True/False)

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Question 53

Which of the following is an example of WIP inventory?

(Multiple Choice)

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Question 54

According to Shook, lean is a philosophy that seeks to shorten the time between when the customer order and the shipment to the customer by eliminating waste.

(True/False)

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Question 55

Shortening the material pipeline in terms of time between suppliers and a buyer can reduce the average amount of inventory in a system.

(True/False)

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Question 56

Which of the following is a component of carrying cost?

(Multiple Choice)

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(75)

Question 57

Even in an era of just-in-time production, almost all firms hold some level of preproduction inventory.

(True/False)

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(78)

Question 58

_____ of inventory refers to how quickly raw material and work-in-process inventory transform into finished goods that the customer accepts.

(Multiple Choice)

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Question 59

All of the following are important barriers to lean supply except _____.

(Multiple Choice)

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Question 60

Showing 41 - 60 of 73

A _____ system is a production control approach that uses containers, cards, or visual cues to control the production and movement of goods through the supply chain.

Which of the following is not one of the wrong reasons for investing in inventory?

Anything less than perfect quality leads to waste.

_____ means that inventory moves through the supply chain continuously with minimal queueing or non-value-adding activity being performed.

_____ are calculated as Average Inventory in Units x Unit Price x Carrying Cost per Year.

All of the following are categories of inventory except _____.

Lean is an easy approach to implement.

In a pull system, an upstream work center or operation will create output regardless whether a downstream center directly requests that output.

It is often difficult to quantify the total costs associated with ordering and carrying physical inventory.

Supply chains are insensitive to changes in markets, including changes in the availability of material supply as well as price changes.

The advantage of consignment to the buyer is the ability to defer ownership and avoid committing working capital and incurring carrying charges.

A major step toward eliminating delivery uncertainty is a commitment to stable release schedules with realistic (but not overly generous) supplier lead times.

Carrying costs do not vary with the level of inventory, which makes these costs fixed.

Which of the following is an example of WIP inventory?

According to Shook, lean is a philosophy that seeks to shorten the time between when the customer order and the shipment to the customer by eliminating waste.

Shortening the material pipeline in terms of time between suppliers and a buyer can reduce the average amount of inventory in a system.

Which of the following is a component of carrying cost?

Even in an era of just-in-time production, almost all firms hold some level of preproduction inventory.

_____ of inventory refers to how quickly raw material and work-in-process inventory transform into finished goods that the customer accepts.

All of the following are important barriers to lean supply except _____.

Introduction to Purchasing and Supply Chain Management

The Purchasing Process

Purchasing Policy and Procedures

Supply Management Integration for Competitive Advantage

Purchasing and Supply Management Organization

Category Strategy Development

Supplier Evaluation and Selection

Supplier Quality Management

Supplier Management and Development: Creating a World-Class Supply Base

Worldwide Sourcing

Strategic Cost Management

Purchasing and Supply Chain Analysis: Tools and Techniques

Negotiation and Conflict Management

Contract Management

Purchasing Law and Ethics

Purchasing Services

Supply Chain Information Systems and Electronic Sourcing

Performance Measurement and Evaluation

Purchasing and Supply Strategy Trends

Filters

Exam 16: Lean Supply Chain Management

A _____ system is a production control approach that uses containers, cards, or visual cues to control the production and movement of goods through the supply chain.

Which of the following is not one of the wrong reasons for investing in inventory?

Anything less than perfect quality leads to waste.

_____ means that inventory moves through the supply chain continuously with minimal queueing or non-value-adding activity being performed.

_____ are calculated as Average Inventory in Units x Unit Price x Carrying Cost per Year.

All of the following are categories of inventory except _____.

Lean is an easy approach to implement.

In a pull system, an upstream work center or operation will create output regardless whether a downstream center directly requests that output.

It is often difficult to quantify the total costs associated with ordering and carrying physical inventory.

Supply chains are insensitive to changes in markets, including changes in the availability of material supply as well as price changes.

The advantage of consignment to the buyer is the ability to defer ownership and avoid committing working capital and incurring carrying charges.

A major step toward eliminating delivery uncertainty is a commitment to stable release schedules with realistic (but not overly generous) supplier lead times.

Carrying costs do not vary with the level of inventory, which makes these costs fixed.

Which of the following is an example of WIP inventory?​

According to Shook, lean is a philosophy that seeks to shorten the time between when the customer order and the shipment to the customer by eliminating waste.

Shortening the material pipeline in terms of time between suppliers and a buyer can reduce the average amount of inventory in a system.

Which of the following is a component of carrying cost?

Even in an era of just-in-time production, almost all firms hold some level of preproduction inventory.

_____ of inventory refers to how quickly raw material and work-in-process inventory transform into finished goods that the customer accepts.

All of the following are important barriers to lean supply except _____.

Introduction to Purchasing and Supply Chain Management

The Purchasing Process

Purchasing Policy and Procedures

Supply Management Integration for Competitive Advantage

Purchasing and Supply Management Organization

Category Strategy Development

Supplier Evaluation and Selection

Supplier Quality Management

Supplier Management and Development: Creating a World-Class Supply Base

Worldwide Sourcing

Strategic Cost Management

Purchasing and Supply Chain Analysis: Tools and Techniques

Negotiation and Conflict Management

Contract Management

Purchasing Law and Ethics

Purchasing Services

Supply Chain Information Systems and Electronic Sourcing

Performance Measurement and Evaluation

Purchasing and Supply Strategy Trends

Filters

Which of the following is an example of WIP inventory?