SCMT 2103 (INTRODUCTION TO
SUPPLY CHAIN MANAGEMENT)
EXAM 1 WITH COMPLETE
SOLUTIONS
Which is a key capability that Zara has used to develop supply chain competitive
advantage? - ANSWER-Quick response
When faced with a stock-out, which behavior is least likely? - ANSWER-Do not
purchase item
_____________________tells you the percentage of demand fulfilled from on hand
inventory. - ANSWER-The percentage item fill rate (IFR)
Economies of scale is defined as a reduction in ________ when volumes are
increased. - ANSWER-average cost per unit
Given a sample of weekly sales data of 30, 5, 15, and 10, what is the four-period
moving average sales forecast for the next week? - ANSWER-15
Assume an item is in stock for 2 weeks but out of stock on the third week. We could
use this information to calculate __________________. - ANSWER-the percentage
of time in stock (PTIS)
One of the direct effects of an increase in transportation cost is to reduce _____. -
ANSWER-ROA
Based on the table below, which product's forecast indicates the highest magnitude
of forecast error?
Product Mean Absolute Percent Error Mean Forecast Error A 14% 300 B 10% 210 C
6% 525 D 20% 500 - ANSWER-Product D
Two major classifications of quantitative forecasting methods are _______ and
________ models. - ANSWER-causal; time series
_____________ is the idea that there are many other costs than just the acquisition
cost that should be accounted for in a purchase. - ANSWER-Total cost of ownership
The term ____________________ today refers to a firm that supplies logistics and
possibly other supply chain management services. - ANSWER-third-party logistics
(3PL) provider
Adjusting last period's forecast by a fraction of last period's forecast error is called
_______. - ANSWER-exponential smoothing
SUPPLY CHAIN MANAGEMENT)
EXAM 1 WITH COMPLETE
SOLUTIONS
Which is a key capability that Zara has used to develop supply chain competitive
advantage? - ANSWER-Quick response
When faced with a stock-out, which behavior is least likely? - ANSWER-Do not
purchase item
_____________________tells you the percentage of demand fulfilled from on hand
inventory. - ANSWER-The percentage item fill rate (IFR)
Economies of scale is defined as a reduction in ________ when volumes are
increased. - ANSWER-average cost per unit
Given a sample of weekly sales data of 30, 5, 15, and 10, what is the four-period
moving average sales forecast for the next week? - ANSWER-15
Assume an item is in stock for 2 weeks but out of stock on the third week. We could
use this information to calculate __________________. - ANSWER-the percentage
of time in stock (PTIS)
One of the direct effects of an increase in transportation cost is to reduce _____. -
ANSWER-ROA
Based on the table below, which product's forecast indicates the highest magnitude
of forecast error?
Product Mean Absolute Percent Error Mean Forecast Error A 14% 300 B 10% 210 C
6% 525 D 20% 500 - ANSWER-Product D
Two major classifications of quantitative forecasting methods are _______ and
________ models. - ANSWER-causal; time series
_____________ is the idea that there are many other costs than just the acquisition
cost that should be accounted for in a purchase. - ANSWER-Total cost of ownership
The term ____________________ today refers to a firm that supplies logistics and
possibly other supply chain management services. - ANSWER-third-party logistics
(3PL) provider
Adjusting last period's forecast by a fraction of last period's forecast error is called
_______. - ANSWER-exponential smoothing
