Question 1

In the context of the metrics used to identify improvements to the operation of supply chains, financial measures:

Accepted Answer

A)  include perfect order fulfillment and perfect delivery fulfillment. 
B)  show how supply chain performance affects the bottom line. 
C)  calculate order fulfillment lead time in supply chains. 
D)  show how quickly goods move through supply chains. 
A)  include perfect order fulfillment and perfect delivery fulfillment. 
B)  show how supply chain performance affects the bottom line. 
C)  calculate order fulfillment lead time in supply chains. 
D)  show how quickly goods move through supply chains. B

Question 2

TekSupply Inc., an automobile parts supplier, held an average automobile parts inventory of $4 million last year. Its cost of goods sold was $25 million. Therefore, the automobile parts experienced an inventory turnover of _____ turns last year.

Accepted Answer

A)  2.5 
B)  4.25 
C)  6.25 
D)  9.5 
A)  2.5 
B)  4.25 
C)  6.25 
D)  9.5 C

Question 3

In the context of measuring supply chain performance, the goal of sustainability measures is to:

Accepted Answer

A)  reduce the order cycle time for all customers. 
B)  have a byproduct-free production process. 
C)  have a carbon-neutral supply chain. 
D)  minimize the time taken to fill a customer's order. 
A)  reduce the order cycle time for all customers. 
B)  have a byproduct-free production process. 
C)  have a carbon-neutral supply chain. 
D)  minimize the time taken to fill a customer's order. C

Question 4

Which of the following is true of order amplification

Accepted Answer

A)  Order amplification in the supply chain leads to the bullwhip effect. 
B)  Large order sizes can help manage order amplification. 
C)  Order amplification decreases as one moves back up the supply chain away from the retail customer. 
D)  Increasing price fluctuations can help manage order amplification. 
A)  Order amplification in the supply chain leads to the bullwhip effect. 
B)  Large order sizes can help manage order amplification. 
C)  Order amplification decreases as one moves back up the supply chain away from the retail customer. 
D)  Increasing price fluctuations can help manage order amplification.

Question 5

Which of the following is true of purchasing

Accepted Answer

A)  It can have a significant impact on total supply chain costs. 
B)  It is critical to satisfy employees' needs and expectations. 
C)  The delivery of goods and services is the responsibility of the purchasing function of a supply chain. 
D)  The principal goal of purchasing is to source products from a single supplier to avoid capacity risks. 
A)  It can have a significant impact on total supply chain costs. 
B)  It is critical to satisfy employees' needs and expectations. 
C)  The delivery of goods and services is the responsibility of the purchasing function of a supply chain. 
D)  The principal goal of purchasing is to source products from a single supplier to avoid capacity risks.

Question 6

Technology upgrades and backup systems and sites can help mitigate security risks.

Accepted Answer

A) True 
 B)False

Question 7

Air shipments have the lowest transportation cost and can carry unlimited weight.

Accepted Answer

A) True 
 B)False

Question 8

Cash-to-cash conversion cycle is the average time to convert a dollar spent to acquire raw materials into a dollar collected for a finished good.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is a disadvantage of vendor-managed inventory (VMI)

Accepted Answer

A)  It often results in higher customer inventories than necessary. 
B)  It does not allow vendors to view inventory needs from the customer's perspective. 
C)  It prohibits the use of customer information, which leads to poor control of inventory and capacity. 
D)  It prevents vendors from making production decisions using downstream customer demand data. 
A)  It often results in higher customer inventories than necessary. 
B)  It does not allow vendors to view inventory needs from the customer's perspective. 
C)  It prohibits the use of customer information, which leads to poor control of inventory and capacity. 
D)  It prevents vendors from making production decisions using downstream customer demand data.

Question 10

The _____ function of a supply chain is responsible for selecting transportation carriers and managing company-owned fleets of vehicles.

Accepted Answer

A)  integration 
B)  procurement 
C)  logistics 
D)  scheduling 
A)  integration 
B)  procurement 
C)  logistics 
D)  scheduling

Question 11

Josh Smith, the materials manager at a retail store, has determined that a particular product experienced 5 turns last year, with an annual sales volume of $15 million. What was the average inventory value for this product last year

Accepted Answer

A)  $1 million 
B)  $2.5 million 
C)  $3 million 
D)  $4.5 million 
A)  $1 million 
B)  $2.5 million 
C)  $3 million 
D)  $4.5 million

Question 12

_____ is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items required from external suppliers.

Accepted Answer

A)  Procurement 
B)  Scheduling 
C)  Integration 
D)  Job design 
A)  Procurement 
B)  Scheduling 
C)  Integration 
D)  Job design

Question 13

The Pharmaceutical Manufacturers Association defines a _____ as one that, after extensive investigation, is found to provide material of such quality that routine testing on each lot received is unnecessary.

Accepted Answer

A)  certified supplier 
B)  contract manufacturer 
C)  licensed franchisor 
D)  return facilitator 
A)  certified supplier 
B)  contract manufacturer 
C)  licensed franchisor 
D)  return facilitator

Question 14

ProShopper, a sportswear store, held an average sportswear inventory of $10 million last year and reported an inventory turnover of 5 times per year. What was its cost of goods sold?

Accepted Answer

A)  $10 million 
B)  $20 million 
C)  $40 million 
D)  $50 million 
A)  $10 million 
B)  $20 million 
C)  $40 million 
D)  $50 million

Question 15

A(n)__________is any entity-real or virtual-that coordinates and shares information between buyers and sellers.

Accepted Answer

A)  manufacturer 
B)  franchisor 
C)  intermediary 
D)  investor 
A)  manufacturer 
B)  franchisor 
C)  intermediary 
D)  investor

Question 16

__________specialize in handling all aspects of customers giving back a manufactured good or delivered service and requesting their money back, repairing the manufactured good and giving it to the customer, and/or invoking the service guarantee.

Accepted Answer

A)  Certified suppliers 
B)  Process designers 
C)  Demand forecasters 
D)  Return facilitators 
A)  Certified suppliers 
B)  Process designers 
C)  Demand forecasters 
D)  Return facilitators

Question 17

__________is the discipline of managing the flow of materials and transportation activities to ensure adequate customer service at reasonable cost.

Accepted Answer

A)  Logistics 
B)  Scheduling 
C)  Procurement 
D)  Integration 
A)  Logistics 
B)  Scheduling 
C)  Procurement 
D)  Integration

Question 18

Which of the following best defines inventory turnover

Accepted Answer

A)  It is the cost associated with repairs of goods that have been returned. 
B)  It is the time taken to fill a customer's order. 
C)  It is a measure of how quickly goods are moving through the supply chain. 
D)  It is a measure of the number of perfect orders. 
A)  It is the cost associated with repairs of goods that have been returned. 
B)  It is the time taken to fill a customer's order. 
C)  It is a measure of how quickly goods are moving through the supply chain. 
D)  It is a measure of the number of perfect orders.

Question 19

Managing orders, transportation, and distribution to provide goods and services is part of the _____ function of the Supply Chain Operations Reference (SCOR) model.

Accepted Answer

A)  plan 
B)  source 
C)  make 
D)  deliver 
A)  plan 
B)  source 
C)  make 
D)  deliver

Question 20

__________refers to managing the flow of finished goods, materials, or components that may be unusable or discarded through the supply chain from customers toward either suppliers, distributors, or manufacturers for the purpose of reuse, resale, or disposal.

Accepted Answer

A)  Reverse logistics 
B)  Response management 
C)  Process design 
D)  Scheduling 
A)  Reverse logistics 
B)  Response management 
C)  Process design 
D)  Scheduling

In the context of the metrics used to identify improvements to the operation of supply chains, financial measures:

TekSupply Inc., an automobile parts supplier, held an average automobile parts inventory of $4 million last year. Its cost of goods sold was $25 million. Therefore, the automobile parts experienced an inventory turnover of _____ turns last year.

In the context of measuring supply chain performance, the goal of sustainability measures is to:

Which of the following is true of order amplification

Which of the following is true of purchasing

Technology upgrades and backup systems and sites can help mitigate security risks.

Air shipments have the lowest transportation cost and can carry unlimited weight.

Cash-to-cash conversion cycle is the average time to convert a dollar spent to acquire raw materials into a dollar collected for a finished good.

Which of the following is a disadvantage of vendor-managed inventory (VMI)

The _____ function of a supply chain is responsible for selecting transportation carriers and managing company-owned fleets of vehicles.

Josh Smith, the materials manager at a retail store, has determined that a particular product experienced 5 turns last year, with an annual sales volume of $15 million. What was the average inventory value for this product last year

_____ is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items required from external suppliers.

The Pharmaceutical Manufacturers Association defines a _____ as one that, after extensive investigation, is found to provide material of such quality that routine testing on each lot received is unnecessary.

ProShopper, a sportswear store, held an average sportswear inventory of $10 million last year and reported an inventory turnover of 5 times per year. What was its cost of goods sold?

A(n)__________is any entity-real or virtual-that coordinates and shares information between buyers and sellers.

__________specialize in handling all aspects of customers giving back a manufactured good or delivered service and requesting their money back, repairing the manufactured good and giving it to the customer, and/or invoking the service guarantee.

__________is the discipline of managing the flow of materials and transportation activities to ensure adequate customer service at reasonable cost.

Which of the following best defines inventory turnover

Managing orders, transportation, and distribution to provide goods and services is part of the _____ function of the Supply Chain Operations Reference (SCOR) model.

__________refers to managing the flow of finished goods, materials, or components that may be unusable or discarded through the supply chain from customers toward either suppliers, distributors, or manufacturers for the purpose of reuse, resale, or disposal.

Operations Management and Value Chains

Measuring Performance in Operations and Value Chains

Operations Strategy

Technology and Operations Management

Goods and Service Design

Supply Chain Design

Process Selection, Design, and Analysis

Facility and Work Design

Forecasting and Demand Planning

Capacity Management

Managing Inventories in Supply Chains

Resource Management

Operations Scheduling and Sequencing

Quality Management

Quality Control and SPC

Lean Operating Systems

Project Management

Filters

Exam 12: Supply Chain Management and Logistics

In the context of the metrics used to identify improvements to the operation of supply chains, financial measures:

TekSupply Inc., an automobile parts supplier, held an average automobile parts inventory of $4 million last year. Its cost of goods sold was $25 million. Therefore, the automobile parts experienced an inventory turnover of _____ turns last year.

In the context of measuring supply chain performance, the goal of sustainability measures is to:

Which of the following is true of order amplification

Which of the following is true of purchasing

Technology upgrades and backup systems and sites can help mitigate security risks.

Air shipments have the lowest transportation cost and can carry unlimited weight.

Cash-to-cash conversion cycle is the average time to convert a dollar spent to acquire raw materials into a dollar collected for a finished good.

Which of the following is a disadvantage of vendor-managed inventory (VMI)

The _____ function of a supply chain is responsible for selecting transportation carriers and managing company-owned fleets of vehicles.

Josh Smith, the materials manager at a retail store, has determined that a particular product experienced 5 turns last year, with an annual sales volume of $15 million. What was the average inventory value for this product last year

_____ is the supply chain function responsible for acquiring raw materials, component parts, tools, services, and other items required from external suppliers.

The Pharmaceutical Manufacturers Association defines a _____ as one that, after extensive investigation, is found to provide material of such quality that routine testing on each lot received is unnecessary.

ProShopper, a sportswear store, held an average sportswear inventory of $10 million last year and reported an inventory turnover of 5 times per year. What was its cost of goods sold?

A(n)__________is any entity-real or virtual-that coordinates and shares information between buyers and sellers.

__________specialize in handling all aspects of customers giving back a manufactured good or delivered service and requesting their money back, repairing the manufactured good and giving it to the customer, and/or invoking the service guarantee.

__________is the discipline of managing the flow of materials and transportation activities to ensure adequate customer service at reasonable cost.

Which of the following best defines inventory turnover

Managing orders, transportation, and distribution to provide goods and services is part of the _____ function of the Supply Chain Operations Reference (SCOR) model.

__________refers to managing the flow of finished goods, materials, or components that may be unusable or discarded through the supply chain from customers toward either suppliers, distributors, or manufacturers for the purpose of reuse, resale, or disposal.

Operations Management and Value Chains

Measuring Performance in Operations and Value Chains

Operations Strategy

Technology and Operations Management

Goods and Service Design

Supply Chain Design

Process Selection, Design, and Analysis

Facility and Work Design

Forecasting and Demand Planning

Capacity Management

Managing Inventories in Supply Chains

Resource Management

Operations Scheduling and Sequencing

Quality Management

Quality Control and SPC

Lean Operating Systems

Project Management

Filters