BUAD 331 Exam 3 Questions & Answers(SCORED A)

Define order cycle time. - ANSWERThe total elapsed time from when the customer first recognizes need to when that need is ultimately fulfilled The difference between the customer's desired order cycle time and the total supply chain order cycle time is known as: - ANSWERlead time gap The economic order quantity (EOQ) model aims to: - ANSWERcalculate the optimal amount of inventory to be reordered by balancing ordering costs with carrying costs. If average daily demand for a product is 5 units and average lead time for an order to arrive is 7 days, what is the reorder point (ROP) for the product? - ANSWER35 units Ted and his friend Matt start a new company called Crabman Auto Parts. They have heard about agile order fulfillment and are interested in implementing it to decrease costs. Which of the following best describes the strategy Crabman Auto Parts should follow to take advantage of agile order fulfillment? - ANSWERSynchronize information exchange across the supply chain and form strategic relationships with key customers and suppliers. The move to lean and then responsive value creation requires a paradigm shift from a _______ mentality to a customer ________ mentality. - ANSWERproduct-focused push, demand-focused pull In high-end restaurants, steaks are generally cooked after the wait staff place the order to the kitchen with customers' preference. Which of the following techniques best describes the fulfillment of steak orders to the final customer? - ANSWERResponsive What negative outcomes can result from large lot-sized, long lead-time operations? - ANSWERAll of the above Procurement, conversion, and logistics are activities that must be done to fulfill a company's exchange commitments. - ANSWERTrue Which of the following factors typically contribute to increased delays and variability of lead times in the global supply chain? - ANSWERComplexity required for movement of goods between countries Noodles & Company uses Coca-Cola Freestyle beverage machines that allow people to select from more than 100 regular and low-calorie brands. What kind of order fulfillment te