UARK SCMT 2103 -EXAM 1
QUESTIONS AND ANSWERS
(GRADED A+)
The objective of Walmart's early network design strategy was to: - ANSWER-Locate
stores close to a Distribution Center
Which of the following is a theme throughout the course? - ANSWER-How logistics
and supply chain management can be used to create a competitive advantage
The management of the flow and storage of inventory, such that total costs are
minimized and customer service targets are achieved is referred to as: - ANSWER-
Logistics
Process redesign is concerned with improving performance but does so by changing
______. - ANSWER-the order of activities
Economies of scope - ANSWER-focuses on the average total cost of production of a
variety of goods
safety stock equation - ANSWER-(Maximum daily usage * Maximum lead time in
days)
What are measures of reliability of a logistics process? - ANSWER-Standard
deviation & Coefficient of variation
Safety stock is _______________. - ANSWER-the expected number of units on
hand just before a replenishment is received and available for use or sale
Days of supply - ANSWER-=365/turns
COGS - ANSWER-=(Avg Inventory in$) * (# of turns)
Days of supply - ANSWER-=total supply/ usage per day
annual holding cost - ANSWER-(holding factor %)*(average inventory $)
Which of the following formulas calculate annual inventory turns? - ANSWER-Units
sold in a year / average number of units in inventory
Resilience in the 4 R's of supply chain competition is defined as being able to
_________________. - ANSWER-deal with unexpected disruptions in the supply
chain
4 R's of supply chain - ANSWER-1. Responsiveness
QUESTIONS AND ANSWERS
(GRADED A+)
The objective of Walmart's early network design strategy was to: - ANSWER-Locate
stores close to a Distribution Center
Which of the following is a theme throughout the course? - ANSWER-How logistics
and supply chain management can be used to create a competitive advantage
The management of the flow and storage of inventory, such that total costs are
minimized and customer service targets are achieved is referred to as: - ANSWER-
Logistics
Process redesign is concerned with improving performance but does so by changing
______. - ANSWER-the order of activities
Economies of scope - ANSWER-focuses on the average total cost of production of a
variety of goods
safety stock equation - ANSWER-(Maximum daily usage * Maximum lead time in
days)
What are measures of reliability of a logistics process? - ANSWER-Standard
deviation & Coefficient of variation
Safety stock is _______________. - ANSWER-the expected number of units on
hand just before a replenishment is received and available for use or sale
Days of supply - ANSWER-=365/turns
COGS - ANSWER-=(Avg Inventory in$) * (# of turns)
Days of supply - ANSWER-=total supply/ usage per day
annual holding cost - ANSWER-(holding factor %)*(average inventory $)
Which of the following formulas calculate annual inventory turns? - ANSWER-Units
sold in a year / average number of units in inventory
Resilience in the 4 R's of supply chain competition is defined as being able to
_________________. - ANSWER-deal with unexpected disruptions in the supply
chain
4 R's of supply chain - ANSWER-1. Responsiveness
