Exam 12: Materials Management Impacts All Supply Chain Participants

Calculate the inventory turnover rate when monthly net sales are $100 million and average inventory evaluated at the selling price is $225 million.What might this product be and comment on this level of turnover for such a product.

The step-by-step procedure for dealing with criticality relationships is:

In what way can suppliers be monitored for their compliance with total quality management programs?

If the ratio of labor costs to materials costs is 1/4 and labor costs are decreasing by 20 percent per year while material costs are increasing by 10 percent per year,what is the ratio at the end of the second year? (Note: This means that at the present time labor costs are 25 percent of materials costs.)

Critical can mean that when a part fails,it causes product or process failure.

Organizations that are in the business of supplying raw materials at the very start of the upstream acquisition process are themselves dependent on

_____ involve smaller order quantities of far more kinds of materials than _____.

It is estimated that _____ percent of the workforce is currently engaged in _____.

Coordinating the goals of materials management with those of process management is one of the greatest responsibilities of the _____

_____ means following up on orders and doing whatever can be done to move materials faster.

It is neither ethical nor legal for vendors to use bribes to influence purchasing decisions in _____

Expectations of buyers for the performance of their suppliers change when there is continuity of their

Calculate the days of inventory (DOI) if average inventory is $100 million (calculated in terms of costs) and the monthly cost of goods sold (COGS) is $85 million.Use 30 days per month.

Value analysis is a systematic examination of all operations in any process in search of a better way of doing things.

Certification of suppliers is not expensive or time-consuming.

Strategies can be tweaked or changed significantly if they are not delivering according to plans.

Which function is part of the responsibilities of the materials control department?

The price-tag approach has been thrown out in favor of long-term relationships with special,trusted suppliers.

Management issues such as what items to buy,when to buy them,from whom to buy,how much to buy at one time,and how much to pay,are captured by what systems?

The cost of materials is often less crucial than _____