UARK SCMT 2103 FINAL EXAM|| 304
QUESTIONS AND ANSWERS
(GRADED A+)
Which are important customer-level information types? - ANSWER-Point of sale,
forecasts, inventory levels, promotional plans
Data that is captured at retail checkout is referred to as __________________ data.
- ANSWER-point-of-sale
Advanced shipment notices (ASNs) is a ___________-level information type. -
ANSWER-supplier
How specific is point-of-sale data? - ANSWER-SKU-time-location specific
Which are fundamental characteristics of firms with high internal integration? -
ANSWER-They integrate planning activities, they facilitate information exchange
across functional areas, they ensure functional awareness.
Which organizational factors are needed to leverage supply chain visibility and big
data? - ANSWER-Clear business case for using the data
For a data scientist to be more effective, he or she should have ________________.
- ANSWER-Broad analytical skills and high domain knowledge
Which is a new way to accomplish business process re-engineering? - ANSWER-
Using big data and predictive analytics
Which type of flexibility refers to the ability to manage transitions in production and
delivery across heterogeneous products? - ANSWER-Variety flexibility
Which company is most likely to be historically considered to be a lean company? -
ANSWER-Walmart
Which type of flexibility refers to taking core products and making changes to them?
- ANSWER-Customization flexibility
Which is a key outcome of an agile strategy? - ANSWER-Satisfied customers
The increasing volatility shown by the Supply Chain Volatility index indicates which
strategy will become increasingly important? - ANSWER-Agile
Which supply chain strategy works best in high volume, low variety and predictable
environments? - ANSWER-Lean
,Which company was an early pioneer in customization flexibility of personal
computers? - ANSWER-Dell
The maker movement will ____________ the speed to markets of new products. -
ANSWER-Increase
The emergence of omnichannel retailing makes the need for which type of flexibility
particularly important? - ANSWER-Variety
The ability to vary production dramatically is _________________ flexibility. -
ANSWER-Volume
Which of the following about the future of data is most likely true? - ANSWER-Both
the digital universe and the amount of tagged data will increase over the next five
years.
Big data is " bigger" because of which factor? - ANSWER-More volume, more
variety, more velocity
The number of devices connected to the internet is how many times greater than one
year ago? - ANSWER-200 times
A bottleneck is the ______________ part of a process. - ANSWER-Slowest
Which type of inventory is the amount of inventory that is expected to sell during a
replenishment period? - ANSWER-Cycle stock
Which type of inventory allows a company to take advantage of transportation
utilization? - ANSWER-Cycle stock
Which type of inventory is used as a buffer against uncertainty in demand and lead
time? - ANSWER-Safety stock
Which of the following is/are a form of inventory? - ANSWER-Raw materials
Work-in-process
Finished goods
Which form of inventory is the most expensive to hold? - ANSWER-Finished goods
Which form of inventory is being transformed into a final product? - ANSWER-Work-
in-process
Which type of inventory is in a transportation unit? - ANSWER-In-transit inventory
Which type of inventory is the amount of the expected amount of inventory on-hand
when the next replenishment arrives? - ANSWER-Safety stock
, Which is a clear sign of a bottleneck in a manufacturing process? - ANSWER-Work-
in-process inventory is building behind.
For which type of product is a shipper likely to be least concerned about
transportation? - ANSWER-Product with low carrying cost
If the inventory carrying cost percentage is 25%, then how much would it cost to
carry an inventory with a value of $900? - ANSWER-$225
Taking the value of the item, of the inventory, and ________________ the inventory
carrying cost percentage tells me how much it costs to carry that inventory annually.
- ANSWER-multiplying it by
The cost associated with inventory shrink is classified as a ________ cost. -
ANSWER-Risk
Which aspect of inventory carrying cost is usually the largest? - ANSWER-Capital
Capital costs can be viewed as the _________________ associated with the money
tied up in inventory. - ANSWER-Opportunity
Obsolescence is likely a bigger problem for which type of product. - ANSWER-Fresh
apples
Which is a cost associated with inventory? - ANSWER-Item cost, ordering or setup
cost, shortage cost
carrying cost
Inventory is good in the right _______________. - ANSWER-Quantity
Inventory is a supply of goods that are held for purpose of _______________. -
ANSWER-Future utilization
Which of the following represents the cost of understocking? - ANSWER-Lost net
profit (per unit)
When the transportation costs increase, the profit margin per unit ___________. -
ANSWER-decreases
__________ tends to increase the in-stock probability. - ANSWER-an increase in the
cost of stocking out, a decrease in the cost of overstocking
When using the continuous review model, what dictates when an order is placed? -
ANSWER-Reorder point
Which costs determine the Economic Order Quantity? - ANSWER-Holding cost,
setup cost
As the order quantity decreases, what happens to setup cost? - ANSWER-It should
increase
QUESTIONS AND ANSWERS
(GRADED A+)
Which are important customer-level information types? - ANSWER-Point of sale,
forecasts, inventory levels, promotional plans
Data that is captured at retail checkout is referred to as __________________ data.
- ANSWER-point-of-sale
Advanced shipment notices (ASNs) is a ___________-level information type. -
ANSWER-supplier
How specific is point-of-sale data? - ANSWER-SKU-time-location specific
Which are fundamental characteristics of firms with high internal integration? -
ANSWER-They integrate planning activities, they facilitate information exchange
across functional areas, they ensure functional awareness.
Which organizational factors are needed to leverage supply chain visibility and big
data? - ANSWER-Clear business case for using the data
For a data scientist to be more effective, he or she should have ________________.
- ANSWER-Broad analytical skills and high domain knowledge
Which is a new way to accomplish business process re-engineering? - ANSWER-
Using big data and predictive analytics
Which type of flexibility refers to the ability to manage transitions in production and
delivery across heterogeneous products? - ANSWER-Variety flexibility
Which company is most likely to be historically considered to be a lean company? -
ANSWER-Walmart
Which type of flexibility refers to taking core products and making changes to them?
- ANSWER-Customization flexibility
Which is a key outcome of an agile strategy? - ANSWER-Satisfied customers
The increasing volatility shown by the Supply Chain Volatility index indicates which
strategy will become increasingly important? - ANSWER-Agile
Which supply chain strategy works best in high volume, low variety and predictable
environments? - ANSWER-Lean
,Which company was an early pioneer in customization flexibility of personal
computers? - ANSWER-Dell
The maker movement will ____________ the speed to markets of new products. -
ANSWER-Increase
The emergence of omnichannel retailing makes the need for which type of flexibility
particularly important? - ANSWER-Variety
The ability to vary production dramatically is _________________ flexibility. -
ANSWER-Volume
Which of the following about the future of data is most likely true? - ANSWER-Both
the digital universe and the amount of tagged data will increase over the next five
years.
Big data is " bigger" because of which factor? - ANSWER-More volume, more
variety, more velocity
The number of devices connected to the internet is how many times greater than one
year ago? - ANSWER-200 times
A bottleneck is the ______________ part of a process. - ANSWER-Slowest
Which type of inventory is the amount of inventory that is expected to sell during a
replenishment period? - ANSWER-Cycle stock
Which type of inventory allows a company to take advantage of transportation
utilization? - ANSWER-Cycle stock
Which type of inventory is used as a buffer against uncertainty in demand and lead
time? - ANSWER-Safety stock
Which of the following is/are a form of inventory? - ANSWER-Raw materials
Work-in-process
Finished goods
Which form of inventory is the most expensive to hold? - ANSWER-Finished goods
Which form of inventory is being transformed into a final product? - ANSWER-Work-
in-process
Which type of inventory is in a transportation unit? - ANSWER-In-transit inventory
Which type of inventory is the amount of the expected amount of inventory on-hand
when the next replenishment arrives? - ANSWER-Safety stock
, Which is a clear sign of a bottleneck in a manufacturing process? - ANSWER-Work-
in-process inventory is building behind.
For which type of product is a shipper likely to be least concerned about
transportation? - ANSWER-Product with low carrying cost
If the inventory carrying cost percentage is 25%, then how much would it cost to
carry an inventory with a value of $900? - ANSWER-$225
Taking the value of the item, of the inventory, and ________________ the inventory
carrying cost percentage tells me how much it costs to carry that inventory annually.
- ANSWER-multiplying it by
The cost associated with inventory shrink is classified as a ________ cost. -
ANSWER-Risk
Which aspect of inventory carrying cost is usually the largest? - ANSWER-Capital
Capital costs can be viewed as the _________________ associated with the money
tied up in inventory. - ANSWER-Opportunity
Obsolescence is likely a bigger problem for which type of product. - ANSWER-Fresh
apples
Which is a cost associated with inventory? - ANSWER-Item cost, ordering or setup
cost, shortage cost
carrying cost
Inventory is good in the right _______________. - ANSWER-Quantity
Inventory is a supply of goods that are held for purpose of _______________. -
ANSWER-Future utilization
Which of the following represents the cost of understocking? - ANSWER-Lost net
profit (per unit)
When the transportation costs increase, the profit margin per unit ___________. -
ANSWER-decreases
__________ tends to increase the in-stock probability. - ANSWER-an increase in the
cost of stocking out, a decrease in the cost of overstocking
When using the continuous review model, what dictates when an order is placed? -
ANSWER-Reorder point
Which costs determine the Economic Order Quantity? - ANSWER-Holding cost,
setup cost
As the order quantity decreases, what happens to setup cost? - ANSWER-It should
increase
