UARK SCMT 2103 STEPHANIE
THOMAS EXAM QUESTIONS AND
ANSWERS
The objective of Walmart's early network design strategy was to? - Correct Answers -
locate stores close to a distribution center
which of the following is a theme throughout the course? - Correct Answers -how
logistics and supply chain management can be used to create competitive advantage
The management of the flow and storage of inventory, such that total costs are
minimized and customer service targets are achieved is referred to as: - Correct
Answers –logisitcs
To avoid making a weighted moving average forecast model less responsive, the
forecaster should not _____________________. - Correct Answers -increase number
of periods included
Adjusting last period's forecast by a fraction of last period's forecast error is called
_______. - Correct Answers -exponetial smoothing
In an exponential smoothing model, alpha can take on any value between ______. -
Correct Answers -0 and 1
As alpha is increased in an exponential smoothing model, the forecast becomes more
______. - Correct Answers -reactive
Logistics is the management of the flow and storage of inventory such that total cost is
minimized and ____________ are achieved. - Correct Answers -customer service
targets
Process redesign is concerned with improving performance but does so by changing
______. - Correct Answers -the order of activities
The term ____________________ today refers to a firm that supplies logistics and
possibly other supply chain management services. - Correct Answers -third-party
logistics (3PL)
, Economies of scale is defined as a reduction in ________ when volumes are increased.
- Correct Answers -average cost per unit
Which of the following benefits did Walmart achieve from their early network design
strategy? - Correct Answers -they are all benefits
Resilience in the 4 R's of supply chain competition is defined as being able to
_________________. - Correct Answers -deal with unexpected disruptions in the
supply chain
Safety stock is _______________. - Correct Answers -the expected number of units on
hand just before a replenishment is received and available for use or sale
Which of the following products would you expect to require the most safety stock?
Product A: Standard Deviation of Sales = 18, Standard Deviation of Lead Time = 23
Product B: Standard Deviation of Sales = 20, Standard Deviation of Lead Time = 20
Product C: Standard Deviation of Sales = 30, Standard Deviation of Lead Time = 31
Product D: Standard Deviation of Sales = 29, Standard Deviation of Lead Time = 15 -
Correct Answers -Product C
Which of the following are measures of reliability of a logistics process? - Correct
Answers -standard deviation and coefficient of variation
Which of the following formulae calculate annual inventory turns? - Correct Answers -
units sold in a year/ average number of units in inventory
Which of the following are common elements of the total cost of ownership model: -
Correct Answers -acquisition cost, transportation cost and operational cost
The ___________ component of customer service includes common metrics of
customer service such as percentage of items in stock, percentage of time an item is in
stock, fill rate, lead time, et cetera. - Correct Answers -transaction
A leveling of production costs between China, Mexico, and the United States means
that U.S. firms will increasingly focus on _____________ to be competitive. - Correct
Answers -agility, flexibility and responsiveness
Which of the following is true of the item fill rate? - Correct Answers -All of these are
true
The item fill rate is the number of units of demand fulfilled from inventory divided by the
total amount of demand.
Item fill rate (IFR) is the percentage of demand fulfilled from on-hand inventory.
Two different SKUs can have the same IFRs and yet have different PTIS.
THOMAS EXAM QUESTIONS AND
ANSWERS
The objective of Walmart's early network design strategy was to? - Correct Answers -
locate stores close to a distribution center
which of the following is a theme throughout the course? - Correct Answers -how
logistics and supply chain management can be used to create competitive advantage
The management of the flow and storage of inventory, such that total costs are
minimized and customer service targets are achieved is referred to as: - Correct
Answers –logisitcs
To avoid making a weighted moving average forecast model less responsive, the
forecaster should not _____________________. - Correct Answers -increase number
of periods included
Adjusting last period's forecast by a fraction of last period's forecast error is called
_______. - Correct Answers -exponetial smoothing
In an exponential smoothing model, alpha can take on any value between ______. -
Correct Answers -0 and 1
As alpha is increased in an exponential smoothing model, the forecast becomes more
______. - Correct Answers -reactive
Logistics is the management of the flow and storage of inventory such that total cost is
minimized and ____________ are achieved. - Correct Answers -customer service
targets
Process redesign is concerned with improving performance but does so by changing
______. - Correct Answers -the order of activities
The term ____________________ today refers to a firm that supplies logistics and
possibly other supply chain management services. - Correct Answers -third-party
logistics (3PL)
, Economies of scale is defined as a reduction in ________ when volumes are increased.
- Correct Answers -average cost per unit
Which of the following benefits did Walmart achieve from their early network design
strategy? - Correct Answers -they are all benefits
Resilience in the 4 R's of supply chain competition is defined as being able to
_________________. - Correct Answers -deal with unexpected disruptions in the
supply chain
Safety stock is _______________. - Correct Answers -the expected number of units on
hand just before a replenishment is received and available for use or sale
Which of the following products would you expect to require the most safety stock?
Product A: Standard Deviation of Sales = 18, Standard Deviation of Lead Time = 23
Product B: Standard Deviation of Sales = 20, Standard Deviation of Lead Time = 20
Product C: Standard Deviation of Sales = 30, Standard Deviation of Lead Time = 31
Product D: Standard Deviation of Sales = 29, Standard Deviation of Lead Time = 15 -
Correct Answers -Product C
Which of the following are measures of reliability of a logistics process? - Correct
Answers -standard deviation and coefficient of variation
Which of the following formulae calculate annual inventory turns? - Correct Answers -
units sold in a year/ average number of units in inventory
Which of the following are common elements of the total cost of ownership model: -
Correct Answers -acquisition cost, transportation cost and operational cost
The ___________ component of customer service includes common metrics of
customer service such as percentage of items in stock, percentage of time an item is in
stock, fill rate, lead time, et cetera. - Correct Answers -transaction
A leveling of production costs between China, Mexico, and the United States means
that U.S. firms will increasingly focus on _____________ to be competitive. - Correct
Answers -agility, flexibility and responsiveness
Which of the following is true of the item fill rate? - Correct Answers -All of these are
true
The item fill rate is the number of units of demand fulfilled from inventory divided by the
total amount of demand.
Item fill rate (IFR) is the percentage of demand fulfilled from on-hand inventory.
Two different SKUs can have the same IFRs and yet have different PTIS.
