SCM 300 MODULE 2 ASU WITH ALL CORRECT
& VERIFIED ANSWERS
Inventory Correct answer-Stock of any item or resource used in an organization.
Types of inventory Correct answer--Raw materials, Work-In-Process, Finished goods
-Spare and/or replacement parts
-Capital equipment & MRO (maintenance, repair, and operations)
Supply Chain Risk Correct answer-Who is at Risk? Whose Risk is it?
How can everybody protect themselves?
Why is Risk assessment important?
Types of Risk Correct answer--Loss, damage, theft, breakdowns
-HR
-Fluctuating Demand (Electricity)
-Market Changes (innovation, growth)
-Environmental, political, criminal...
Independent Demand Item Correct answer-Items for which demand is influenced by market
conditions. Demand is not related to demand for other items in stock or produced.
Dependent Demand Item Correct answer-Items that are required as components or inputs to
other products or services.
Lead Time Correct answer-Time between customer placing order, and company fulfilling order.
SKU Correct answer-Stock Keeping Unit/ Number associated with barcodes.
Insurance Importance to Inventory Correct answer-Protects against many risks and uncertainties
that companies take.
Managing Costs/Economies of Scale Correct answer-Quantity Discounts could offset other
inventory related costs.
Manufacturing (some items can be made in batches which makes build to order not economical)
Long-Term Inventory Correct answer-Items that can be sold now or later; paper, nails etc...
Seasonal Inventory Correct answer-These items must sell quickly. High demand period is brief.
Christmas trees, Halloween Candy.
Perishable Correct answer-Items that must be sold within the day. Food, newspapers, airline
tickets.
Surplus Inventory Correct answer-Protects against uncertainty in demand, lead time, supply etc..
Not intended to be used; cushion or buffer.
Anticipation Inventory Correct answer-Used to absorb uneven rates of demand or supply.
Seasonal demands, holidays, quantity discounts.
Market Inventory Correct answer-Inventory readily available on the shelf.
& VERIFIED ANSWERS
Inventory Correct answer-Stock of any item or resource used in an organization.
Types of inventory Correct answer--Raw materials, Work-In-Process, Finished goods
-Spare and/or replacement parts
-Capital equipment & MRO (maintenance, repair, and operations)
Supply Chain Risk Correct answer-Who is at Risk? Whose Risk is it?
How can everybody protect themselves?
Why is Risk assessment important?
Types of Risk Correct answer--Loss, damage, theft, breakdowns
-HR
-Fluctuating Demand (Electricity)
-Market Changes (innovation, growth)
-Environmental, political, criminal...
Independent Demand Item Correct answer-Items for which demand is influenced by market
conditions. Demand is not related to demand for other items in stock or produced.
Dependent Demand Item Correct answer-Items that are required as components or inputs to
other products or services.
Lead Time Correct answer-Time between customer placing order, and company fulfilling order.
SKU Correct answer-Stock Keeping Unit/ Number associated with barcodes.
Insurance Importance to Inventory Correct answer-Protects against many risks and uncertainties
that companies take.
Managing Costs/Economies of Scale Correct answer-Quantity Discounts could offset other
inventory related costs.
Manufacturing (some items can be made in batches which makes build to order not economical)
Long-Term Inventory Correct answer-Items that can be sold now or later; paper, nails etc...
Seasonal Inventory Correct answer-These items must sell quickly. High demand period is brief.
Christmas trees, Halloween Candy.
Perishable Correct answer-Items that must be sold within the day. Food, newspapers, airline
tickets.
Surplus Inventory Correct answer-Protects against uncertainty in demand, lead time, supply etc..
Not intended to be used; cushion or buffer.
Anticipation Inventory Correct answer-Used to absorb uneven rates of demand or supply.
Seasonal demands, holidays, quantity discounts.
Market Inventory Correct answer-Inventory readily available on the shelf.
