SCMT 2103 FINAL EXAM UARK
THOMAS QUESTIONS AND ANSWERS
Which of the following are common elements of the total cost of ownership model:
a. acquisition cost
b. operation cost
c. transportation cost
d. all of the above are a part of the TCO model - Correct Answers -d. all of the above
are a part of the TOC model
(T/F)?
Phantom inventory is when a retailer thinks there is more inventory than there actually
is. - Correct Answers -True
The amount received by a firm is 240 units and it sold 75 units. Assuming initial
inventory is zero, what is the perpetual inventory?
a. 315 units
b. 165 units
c. 40 units
d. 3 units - Correct Answers -b. 165 units
What is the broader concept?
a. supply chain management
b. logistics - Correct Answers -a. supply chain management
Which mode of transportation makes up the largest part of the US logistics cost?
a. pipeline
,b. rail
c. air
d. motor carrier
e. water - Correct Answers -d. motor carrier
Fill rate is the % of from __.
a. demand fulfilled; on hand inventory
b. Inventory; demand fulfilled.
c. Profit; on hand inventory.
d. losses; on hand inventory - Correct Answers -a. demand fulfilled; on hand inventory
As the number of distribution centers increases, inbound transportation costs
___________ but outbound transportation costs ___________ .
a. increases; increases
b. decreases; decreases
c. increases; decreases
d. decreases; increases - Correct Answers -c. increases; decreases
(T/F)?
If you wanted to assess inventory turns of a category with multiple SKUs, the best way
to do that would be to add up the sales for the category and divide by the total inventory
level for the category. - Correct Answers -True
Whats the cash-to-cash cycle formula? - Correct Answers -days of inventory + days of
receivables - days of payables
Logistics lead time is the time [blank].
a. from when an order is placed until it's actually received and ready for use or sale
b. that a customer is willing to wait for delivery of an anticipated purchase
c. from when an order is manufactured until it's in the customer's hands
, d. all of the above - Correct Answers -a. from when an order is placed until it's actually
received and ready for use or sale
In general, forecasters must consider which of the following?
a. trend
b. seasonality
c. noise
d. promotional activity
e. all of the above - Correct Answers -e. all of the above
Which component of demand represents the degree to which the data is increasing or
decreasing over time?
a. level
b. trend
c. seasonality
d. cyclicality - Correct Answers -b. trend
Time series methods are quantitative methods based on assumption that [blank]
demand is reflected in [blank] demand patterns.
a. present; past
b. future; past
c. future; present
d. future; future - Correct Answers -b. future; past
Forecast [blank] describes whether we are on average forecasting too high or low.
a. bias
b. magnitude - Correct Answers -a. bias
As the prediction error increases, safety stock costs ______.
a. increase
THOMAS QUESTIONS AND ANSWERS
Which of the following are common elements of the total cost of ownership model:
a. acquisition cost
b. operation cost
c. transportation cost
d. all of the above are a part of the TCO model - Correct Answers -d. all of the above
are a part of the TOC model
(T/F)?
Phantom inventory is when a retailer thinks there is more inventory than there actually
is. - Correct Answers -True
The amount received by a firm is 240 units and it sold 75 units. Assuming initial
inventory is zero, what is the perpetual inventory?
a. 315 units
b. 165 units
c. 40 units
d. 3 units - Correct Answers -b. 165 units
What is the broader concept?
a. supply chain management
b. logistics - Correct Answers -a. supply chain management
Which mode of transportation makes up the largest part of the US logistics cost?
a. pipeline
,b. rail
c. air
d. motor carrier
e. water - Correct Answers -d. motor carrier
Fill rate is the % of from __.
a. demand fulfilled; on hand inventory
b. Inventory; demand fulfilled.
c. Profit; on hand inventory.
d. losses; on hand inventory - Correct Answers -a. demand fulfilled; on hand inventory
As the number of distribution centers increases, inbound transportation costs
___________ but outbound transportation costs ___________ .
a. increases; increases
b. decreases; decreases
c. increases; decreases
d. decreases; increases - Correct Answers -c. increases; decreases
(T/F)?
If you wanted to assess inventory turns of a category with multiple SKUs, the best way
to do that would be to add up the sales for the category and divide by the total inventory
level for the category. - Correct Answers -True
Whats the cash-to-cash cycle formula? - Correct Answers -days of inventory + days of
receivables - days of payables
Logistics lead time is the time [blank].
a. from when an order is placed until it's actually received and ready for use or sale
b. that a customer is willing to wait for delivery of an anticipated purchase
c. from when an order is manufactured until it's in the customer's hands
, d. all of the above - Correct Answers -a. from when an order is placed until it's actually
received and ready for use or sale
In general, forecasters must consider which of the following?
a. trend
b. seasonality
c. noise
d. promotional activity
e. all of the above - Correct Answers -e. all of the above
Which component of demand represents the degree to which the data is increasing or
decreasing over time?
a. level
b. trend
c. seasonality
d. cyclicality - Correct Answers -b. trend
Time series methods are quantitative methods based on assumption that [blank]
demand is reflected in [blank] demand patterns.
a. present; past
b. future; past
c. future; present
d. future; future - Correct Answers -b. future; past
Forecast [blank] describes whether we are on average forecasting too high or low.
a. bias
b. magnitude - Correct Answers -a. bias
As the prediction error increases, safety stock costs ______.
a. increase
