SUPPLY CHAIN
MANAGEMENT EXAM 1
VERIFIED QUESTIONS
AND ANSWERS
, SUPPLY CHAIN MANAGEMENT EXAM 1 VERIFIED
QUESTIONS AND ANSWERS
2 Basic Supply Chain Capability Models - - Answer ---Efficient Model: The supply chain is
configured to produce a large volume of product, as quickly as possible, and at lowest possible
cost
-Responsive Model: Configured to be fast and flexible to respond quickly to dynamic market
demand
A quantitative decision model based on the trade-off between annual inventory carrying costs
and annual ordering costs is known as what?
-Sales & Operations Planning (S&OP)
-Economic Order Quantity (EOQ)
-Finished Goods Inventory Management
-Master Production Schedule (MPS) - - Answer --Economic Order Quantity (EOQ)
A supply chain consists of . . . ?
-Suppliers and Customers
-Product flow and Payment flow
-Suppliers, Manufacturers, and Customers
-Suppliers, Manufacturers, and Customers facilitated through the use of Logistics - - Answer --
Suppliers, Manufacturers, and Customers facilitated through the use of Logistics
As the supply chain continues to evolve, it's critical for companies to . . . ?
- increase inventory levels throughout the supply chain.
-Outsource their core competencies to trading partners that they can trust.
-Outsource their non-core competencies to trading partners that they can trust - - Answer --
Outsource their non-core competencies to trading partners that they can trust
Cause and Effect Forecast models use the historical relationship between an independent
variable(s) and a dependent variable to predict the future values of the dependent variable.
T or F - - Answer --True
Cause and Effect Forecasting - - Answer ---A statistical measure that determines the strength of
the relationship between one dependent variable and a series of independent variables
1.) Simple Linear Regression attempts to model the relationship between a single independent
variable and a dependent variable by fitting a linear equation to the observed data
2.) Multiple Linear Regression attempts to model the relationship between 2 or more
independent variables and a dependent variable by fitting a linear equation to the observed data
Collaborative Planning, Forecasting & Replenishment - - Answer --Combines the intelligence of
multiple trading partners who share info to ensure a smooth flow of goods and services across
the supply chain
MANAGEMENT EXAM 1
VERIFIED QUESTIONS
AND ANSWERS
, SUPPLY CHAIN MANAGEMENT EXAM 1 VERIFIED
QUESTIONS AND ANSWERS
2 Basic Supply Chain Capability Models - - Answer ---Efficient Model: The supply chain is
configured to produce a large volume of product, as quickly as possible, and at lowest possible
cost
-Responsive Model: Configured to be fast and flexible to respond quickly to dynamic market
demand
A quantitative decision model based on the trade-off between annual inventory carrying costs
and annual ordering costs is known as what?
-Sales & Operations Planning (S&OP)
-Economic Order Quantity (EOQ)
-Finished Goods Inventory Management
-Master Production Schedule (MPS) - - Answer --Economic Order Quantity (EOQ)
A supply chain consists of . . . ?
-Suppliers and Customers
-Product flow and Payment flow
-Suppliers, Manufacturers, and Customers
-Suppliers, Manufacturers, and Customers facilitated through the use of Logistics - - Answer --
Suppliers, Manufacturers, and Customers facilitated through the use of Logistics
As the supply chain continues to evolve, it's critical for companies to . . . ?
- increase inventory levels throughout the supply chain.
-Outsource their core competencies to trading partners that they can trust.
-Outsource their non-core competencies to trading partners that they can trust - - Answer --
Outsource their non-core competencies to trading partners that they can trust
Cause and Effect Forecast models use the historical relationship between an independent
variable(s) and a dependent variable to predict the future values of the dependent variable.
T or F - - Answer --True
Cause and Effect Forecasting - - Answer ---A statistical measure that determines the strength of
the relationship between one dependent variable and a series of independent variables
1.) Simple Linear Regression attempts to model the relationship between a single independent
variable and a dependent variable by fitting a linear equation to the observed data
2.) Multiple Linear Regression attempts to model the relationship between 2 or more
independent variables and a dependent variable by fitting a linear equation to the observed data
Collaborative Planning, Forecasting & Replenishment - - Answer --Combines the intelligence of
multiple trading partners who share info to ensure a smooth flow of goods and services across
the supply chain
