SCMA 3301 Exam 1 With
Complete Solution
Supply Chain Management - ANSWER Involves integrating and managing the
flow of supplies throughout the inputs, transformation processes and
outputs in order to best meet the needs of customers.
Sourcing - ANSWER Refers to the purchasing of inputs for the transformation
processes.
Global Sourcing - ANSWER Broad term that refers to businesses purchasing
supplies or services without being constrained by location.
E-Commerce - ANSWER Involves the buying and selling of goods and
services via the internet.
E-procurement - ANSWER Use of online systems to manage supply, allows
suppliers direct access to the business's level of supplies.
Logistics - ANSWER A term broadly referring to distribution but includes
transportation, the use of storage, warehousing and distribution centres,
material handling and packaging.
Distribution - ANSWER Refers to the ways of getting the goods or services to
the customer.
Storage - ANSWER Involves finding a secure place to hold stock until it is
required
Warehousing - ANSWER The use of warehouses for the storage, protection
,and, later, distribution of stock.
Domestic Sourcing - ANSWER Broad term referring to the business sourcing
supplies within the country or state.
Supply Chain Management starts with understanding the flow. T/F - ANSWER
true
The bullwhip effect can occur when the demand for a product is based on a
forecast, rather than on actual consumer requirements/consumption. T/F -
ANSWER true
In the Make-to-Order or Pull Model, stock is produced on the basis of
anticipated (i.e., forecasted) demand. T/F - ANSWER false
The goal of Supply Chain Management is to increase customer service by
increasing inventory and reducing costs. T/F - ANSWER false
Successful modern supply chain management typically includes the practice
of ?
A. Keeping high inventories throughout the supply chain
B. Always purchasing materials with the lowest per unit cost
C. Sharing information between supply chain partners
D. Issuing ultimatums to your supply chain partners - ANSWER C. Sharing
information between supply chain partners
In the future companies will focus on?
A. Relationships
,B. Sustainability
C. Social Responsibility
D. All of the above
E. B & C only - ANSWER D. All of the above
The Qualitative forecasting method is based on opinion & intuition. T/F -
ANSWER true
Forecasts are most accurate for long time periods. T/F - ANSWER false
Cause-and-Effect Models can have multiple independent variables. T/F -
ANSWER true
Which one of the following is not a type of qualitative forecasting?
A. Sales force composite
B. Consumer survey
C. Jury of executive opinion
D. Naïve method - ANSWER D. Naïve method
What does the acronym CPFR represent?
A. Coordinated Planning & Forecasting Relationships
B. Collaborative Planning, Forecasting, & Replenishment
C. Centralized Purchasing & Forecasting Relationships
D. Collaborative Purchasing, Forecasting, & Receivables - ANSWER B.
Collaborative Planning, Forecasting, & Replenishment
, The goal of resource planning is to minimize the discrepancy between an
organization's capacity and demand results. T/F - ANSWER true
Material Requirement Planning is the system intended to develop long-range
plans (more than a year away) concerning product families manufactured by
the organization. T/F - ANSWER false
The three basic production strategies for addressing the aggregate planning
problem are the chase production strategy, the level production strategy,
and the mixed production strategy. T/F - ANSWER true
The Chase Production Strategy relies on a constant output rate and capacity
while varying inventory and backlog levels to handle the fluctuating demand
pattern. T/F - ANSWER false
Which of the following is an engineering document that shows an inclusive
listing of all the component parts and assemblies making up the final
product?
A. Master Production Schedule
B. Bill of Materials
C. Distribution Requirement Plan
Complete Solution
Supply Chain Management - ANSWER Involves integrating and managing the
flow of supplies throughout the inputs, transformation processes and
outputs in order to best meet the needs of customers.
Sourcing - ANSWER Refers to the purchasing of inputs for the transformation
processes.
Global Sourcing - ANSWER Broad term that refers to businesses purchasing
supplies or services without being constrained by location.
E-Commerce - ANSWER Involves the buying and selling of goods and
services via the internet.
E-procurement - ANSWER Use of online systems to manage supply, allows
suppliers direct access to the business's level of supplies.
Logistics - ANSWER A term broadly referring to distribution but includes
transportation, the use of storage, warehousing and distribution centres,
material handling and packaging.
Distribution - ANSWER Refers to the ways of getting the goods or services to
the customer.
Storage - ANSWER Involves finding a secure place to hold stock until it is
required
Warehousing - ANSWER The use of warehouses for the storage, protection
,and, later, distribution of stock.
Domestic Sourcing - ANSWER Broad term referring to the business sourcing
supplies within the country or state.
Supply Chain Management starts with understanding the flow. T/F - ANSWER
true
The bullwhip effect can occur when the demand for a product is based on a
forecast, rather than on actual consumer requirements/consumption. T/F -
ANSWER true
In the Make-to-Order or Pull Model, stock is produced on the basis of
anticipated (i.e., forecasted) demand. T/F - ANSWER false
The goal of Supply Chain Management is to increase customer service by
increasing inventory and reducing costs. T/F - ANSWER false
Successful modern supply chain management typically includes the practice
of ?
A. Keeping high inventories throughout the supply chain
B. Always purchasing materials with the lowest per unit cost
C. Sharing information between supply chain partners
D. Issuing ultimatums to your supply chain partners - ANSWER C. Sharing
information between supply chain partners
In the future companies will focus on?
A. Relationships
,B. Sustainability
C. Social Responsibility
D. All of the above
E. B & C only - ANSWER D. All of the above
The Qualitative forecasting method is based on opinion & intuition. T/F -
ANSWER true
Forecasts are most accurate for long time periods. T/F - ANSWER false
Cause-and-Effect Models can have multiple independent variables. T/F -
ANSWER true
Which one of the following is not a type of qualitative forecasting?
A. Sales force composite
B. Consumer survey
C. Jury of executive opinion
D. Naïve method - ANSWER D. Naïve method
What does the acronym CPFR represent?
A. Coordinated Planning & Forecasting Relationships
B. Collaborative Planning, Forecasting, & Replenishment
C. Centralized Purchasing & Forecasting Relationships
D. Collaborative Purchasing, Forecasting, & Receivables - ANSWER B.
Collaborative Planning, Forecasting, & Replenishment
, The goal of resource planning is to minimize the discrepancy between an
organization's capacity and demand results. T/F - ANSWER true
Material Requirement Planning is the system intended to develop long-range
plans (more than a year away) concerning product families manufactured by
the organization. T/F - ANSWER false
The three basic production strategies for addressing the aggregate planning
problem are the chase production strategy, the level production strategy,
and the mixed production strategy. T/F - ANSWER true
The Chase Production Strategy relies on a constant output rate and capacity
while varying inventory and backlog levels to handle the fluctuating demand
pattern. T/F - ANSWER false
Which of the following is an engineering document that shows an inclusive
listing of all the component parts and assemblies making up the final
product?
A. Master Production Schedule
B. Bill of Materials
C. Distribution Requirement Plan
