SCMN-3710 Q/A's
In recent years, power in the supply chain is perceived to be held primarily by: -
Answer- retailers
The supply chain concept is described as evolving through _______ stages of
development. - Answer- three
A supply chain is a set of ________ directly linked by one or more of the upstream
and downstream flows of products, services, finances, and information (including
demand) from a source to a customer. - Answer- three or more organizations
Which of the following statements can be used to distinguish Logistics from Supply
Chain Management? - Answer- Logistics deals with the movement and storage of
inventory
Logistics adds value through which form of economic utility? - Answer- time
Mechanical equipment used for short distance moves is the definition of: - Answer-
materials handling
Logistics costs as a percentage of GDP have stabilized in the past decade in what
range? - Answer- 7-8%
Which era of globalization was driven primarily by companies? - Answer- second era
The U.S.' largest trading partner is currently ________. - Answer- china
Carriers must send Customs a complete cargo manifest prior to cargo destined for
the US being loaded in the port of departure. What is the term of this policy? -
Answer- 24-hour rule
"Focused efforts to estimate and manage customers' demand, with the intention of
using this information to shape operating decisions" is the definition of: - Answer-
demand management
__________ may occur in a situation where channel partners over order when they
believe supply will not be able to keep up with initial demand. - Answer- phantom
demand
Companies may attempt to shift demand through price changes when supply of
products is unsure. This process is referred to as: - Answer- demand shaping
An estimate of future results based on the analysis of available information is the
definition of: - Answer- forecasting
Broad, uncontrollable trends related to overall economic conditions. - Answer-
business cycle changes
, Which forecasting method is calculated with the following formula:
Sum of the last n demand periods / n - Answer- simple moving average
Calculate the weighted moving average forecast for June given the following
information:
n=3
March sales = 400, April sales = 200, May sales = 300
Weights = 0.5, 0.3, and 0.2, respectively starting with the most recent prior period. -
Answer- 290
Calculate the simple moving average forecast for August given the following
information:
March sales = 500, April sales = 400, May sales = 200, June sales = 300
n = 4 - Answer- 350
The method of determining forecast accuracy that is the easiest to interpret is: -
Answer- MAD
The larger value for the variable alpha is used in this forecasting method if you
believe recent data is a good predictor of future demand. - Answer- exponential
shooting
"The number of times per year a business is able to use up / sell off their complete
inventory of raw materials / finished goods" is the definition of: - Answer- inventory
turnover
The long term trend for inventory investment described in this module is inventory as
a percentage of GDP has _______, and as a percentage of logistics costs has
_______. - Answer- Decreased, decreased
Inventory a company holds beyond normal needs as a buffer against uncertainty. -
Answer- Safety stock
The calculation of inventory carrying costs requires all of the following except: -
Answer- Federal funds rate
This inventory model assumes a continuous, constant, known and infinite rate of
demand. - Answer- Fixed order quantity with certainty
In the EOQ model the variable A is used to represent: - Answer- Cost of placing an
order
Determine the replenishment order quantity (to the nearest whole number) in the
simple EOQ model given the following information:
Annual demand = 5,000
Cost to place an order = $200Value of one unit = $100Carrying cost % =
20%Replenishment lead-time = 5 days - Answer- 316
In recent years, power in the supply chain is perceived to be held primarily by: -
Answer- retailers
The supply chain concept is described as evolving through _______ stages of
development. - Answer- three
A supply chain is a set of ________ directly linked by one or more of the upstream
and downstream flows of products, services, finances, and information (including
demand) from a source to a customer. - Answer- three or more organizations
Which of the following statements can be used to distinguish Logistics from Supply
Chain Management? - Answer- Logistics deals with the movement and storage of
inventory
Logistics adds value through which form of economic utility? - Answer- time
Mechanical equipment used for short distance moves is the definition of: - Answer-
materials handling
Logistics costs as a percentage of GDP have stabilized in the past decade in what
range? - Answer- 7-8%
Which era of globalization was driven primarily by companies? - Answer- second era
The U.S.' largest trading partner is currently ________. - Answer- china
Carriers must send Customs a complete cargo manifest prior to cargo destined for
the US being loaded in the port of departure. What is the term of this policy? -
Answer- 24-hour rule
"Focused efforts to estimate and manage customers' demand, with the intention of
using this information to shape operating decisions" is the definition of: - Answer-
demand management
__________ may occur in a situation where channel partners over order when they
believe supply will not be able to keep up with initial demand. - Answer- phantom
demand
Companies may attempt to shift demand through price changes when supply of
products is unsure. This process is referred to as: - Answer- demand shaping
An estimate of future results based on the analysis of available information is the
definition of: - Answer- forecasting
Broad, uncontrollable trends related to overall economic conditions. - Answer-
business cycle changes
, Which forecasting method is calculated with the following formula:
Sum of the last n demand periods / n - Answer- simple moving average
Calculate the weighted moving average forecast for June given the following
information:
n=3
March sales = 400, April sales = 200, May sales = 300
Weights = 0.5, 0.3, and 0.2, respectively starting with the most recent prior period. -
Answer- 290
Calculate the simple moving average forecast for August given the following
information:
March sales = 500, April sales = 400, May sales = 200, June sales = 300
n = 4 - Answer- 350
The method of determining forecast accuracy that is the easiest to interpret is: -
Answer- MAD
The larger value for the variable alpha is used in this forecasting method if you
believe recent data is a good predictor of future demand. - Answer- exponential
shooting
"The number of times per year a business is able to use up / sell off their complete
inventory of raw materials / finished goods" is the definition of: - Answer- inventory
turnover
The long term trend for inventory investment described in this module is inventory as
a percentage of GDP has _______, and as a percentage of logistics costs has
_______. - Answer- Decreased, decreased
Inventory a company holds beyond normal needs as a buffer against uncertainty. -
Answer- Safety stock
The calculation of inventory carrying costs requires all of the following except: -
Answer- Federal funds rate
This inventory model assumes a continuous, constant, known and infinite rate of
demand. - Answer- Fixed order quantity with certainty
In the EOQ model the variable A is used to represent: - Answer- Cost of placing an
order
Determine the replenishment order quantity (to the nearest whole number) in the
simple EOQ model given the following information:
Annual demand = 5,000
Cost to place an order = $200Value of one unit = $100Carrying cost % =
20%Replenishment lead-time = 5 days - Answer- 316
