SCM 300 Exam 1 Questions With Correct Answers
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3 //branches //of //supply //chain //- //CORRECT //ANSWERS(S)✔✔procurement //(purchasing),
//operation, //logistics, //reverse
Procurement //(purchasing) //- //CORRECT //ANSWERS(S)✔✔the //branch //of //supply //chain //where
//deals //happen, //negotiations //for //the //best //price //on //materials, //equipment, //goods, //and
//services. //acquiring //materials //and //placing //orders.
Operations //- //CORRECT //ANSWERS(S)✔✔the //branch //responsible //for //making //business
//processes //effective //and //efficient //(help //create //high //quality //products/services //using
//fewest //resources //possible).
Logistics //- //CORRECT //ANSWERS(S)✔✔is //concerned //with //transportation, //finding //the //right
//partners //or //best //ways //to //get //the //product //or //service //from //origin //to //consumption.
Key //variable //in //elementary //inventory //calculations //- //CORRECT //ANSWERS(S)✔✔Q //- //lot //size
D //- //annual //demand
C //- //cost //to //purchase //one //unite
H //- //cost //to //hold //on //unit //of //inventory //in //one //year
S //- //cost //to //place //a //single //order
Annual //cost //to //purchase //inventory //- //CORRECT //ANSWERS(S)✔✔DC
Annual //Holding //Cost //(AHC) //- //CORRECT //ANSWERS(S)✔✔(Q/2)*H
, Annual //Ordering //Cost //(AOC) //- //CORRECT //ANSWERS(S)✔✔(D/Q)S
Equation //for //total //cost //- //CORRECT //ANSWERS(S)✔✔DC //+ //AHC //+ //AOC
Economic //Order //Quantity //(EOQ) //- //CORRECT //ANSWERS(S)✔✔the //lot //size //that //minimizes
//total //annual //inventory //holding //and //ordering //costs, //making //it //the //optimal //lot //size
= //SQRT //(2DS/H)
if //a //manager //is //looking //to //minimize //inventory //costs //and //maximize //total //annual //savings
//then //he //would //calculate //optimal //lot //size //through //this //formula.
Cycle //time //- //CORRECT //ANSWERS(S)✔✔the //pace //at //which //product //must //move //through
//the //assembly //line //in //order //for //the //assembly //line //to //keep //pace //with //demand. //
= //Operating //Time/D
Theoretical //Minimum //number //of //workstations //calculations //(TM) //- //CORRECT
ANSWERS(S)✔✔total //task //time /// //cycle //time
//
3 //Supply //Chain //Flows //- //CORRECT //ANSWERS(S)✔✔Money, //material, //information
downstream //supply //chain //- //CORRECT //ANSWERS(S)✔✔the //direction //that //points //towards
//the //end //customer
Ex: //delivering //goods //from //a //manufacturer //to //a //distributor. //main //suppliers //s1 //working //to
//get //parts //prepared //in //time //for //manufacturer.
Upstream //Supply //Chain //- //CORRECT //ANSWERS(S)✔✔going //backwards, //moving //towards
//the //supplier.
ex: //finding //ways //to //maximize //efficiency //coming //back. //see //if //all //the //boxes //that //have
//arrived //at //the //retailer //are //empty //and //not //damaged //to //send //them //beck //for //reuse.
// // // // // // // //
3 //branches //of //supply //chain //- //CORRECT //ANSWERS(S)✔✔procurement //(purchasing),
//operation, //logistics, //reverse
Procurement //(purchasing) //- //CORRECT //ANSWERS(S)✔✔the //branch //of //supply //chain //where
//deals //happen, //negotiations //for //the //best //price //on //materials, //equipment, //goods, //and
//services. //acquiring //materials //and //placing //orders.
Operations //- //CORRECT //ANSWERS(S)✔✔the //branch //responsible //for //making //business
//processes //effective //and //efficient //(help //create //high //quality //products/services //using
//fewest //resources //possible).
Logistics //- //CORRECT //ANSWERS(S)✔✔is //concerned //with //transportation, //finding //the //right
//partners //or //best //ways //to //get //the //product //or //service //from //origin //to //consumption.
Key //variable //in //elementary //inventory //calculations //- //CORRECT //ANSWERS(S)✔✔Q //- //lot //size
D //- //annual //demand
C //- //cost //to //purchase //one //unite
H //- //cost //to //hold //on //unit //of //inventory //in //one //year
S //- //cost //to //place //a //single //order
Annual //cost //to //purchase //inventory //- //CORRECT //ANSWERS(S)✔✔DC
Annual //Holding //Cost //(AHC) //- //CORRECT //ANSWERS(S)✔✔(Q/2)*H
, Annual //Ordering //Cost //(AOC) //- //CORRECT //ANSWERS(S)✔✔(D/Q)S
Equation //for //total //cost //- //CORRECT //ANSWERS(S)✔✔DC //+ //AHC //+ //AOC
Economic //Order //Quantity //(EOQ) //- //CORRECT //ANSWERS(S)✔✔the //lot //size //that //minimizes
//total //annual //inventory //holding //and //ordering //costs, //making //it //the //optimal //lot //size
= //SQRT //(2DS/H)
if //a //manager //is //looking //to //minimize //inventory //costs //and //maximize //total //annual //savings
//then //he //would //calculate //optimal //lot //size //through //this //formula.
Cycle //time //- //CORRECT //ANSWERS(S)✔✔the //pace //at //which //product //must //move //through
//the //assembly //line //in //order //for //the //assembly //line //to //keep //pace //with //demand. //
= //Operating //Time/D
Theoretical //Minimum //number //of //workstations //calculations //(TM) //- //CORRECT
ANSWERS(S)✔✔total //task //time /// //cycle //time
//
3 //Supply //Chain //Flows //- //CORRECT //ANSWERS(S)✔✔Money, //material, //information
downstream //supply //chain //- //CORRECT //ANSWERS(S)✔✔the //direction //that //points //towards
//the //end //customer
Ex: //delivering //goods //from //a //manufacturer //to //a //distributor. //main //suppliers //s1 //working //to
//get //parts //prepared //in //time //for //manufacturer.
Upstream //Supply //Chain //- //CORRECT //ANSWERS(S)✔✔going //backwards, //moving //towards
//the //supplier.
ex: //finding //ways //to //maximize //efficiency //coming //back. //see //if //all //the //boxes //that //have
//arrived //at //the //retailer //are //empty //and //not //damaged //to //send //them //beck //for //reuse.
