SCM 300 Davila - Exam 1 Questions with Correct Answers (Grade A+)

SCM 300 Davila - Exam 1 Questions with Correct Answers (Grade
A+)

Question 1: Muscles and Bones of Organization

Answer: Supply Chain


Question 2: Lifeblood of Organization

Answer: IT, Marketing, Accounting, Supply Chain, Finance


Question 3: Supply Chain Visibility Example

Answer: Golden Gate Bridge/Fog Analogy


Question 4: Supply Chain Mantra

Answer: Buy it, Make it, Move it, Sell it, Service it


Question 5: Less Inventory = more resourceful example

Answer: Shampoo


Question 6: Safety Stock

Answer: Extra inventory not meant to be used. Ex. Insurance


Question 7: Anticipation Inventory

Answer: inventory used to absorb uneven rates of demand or supply. Ex. Snowblowers


Question 8: Pipeline Inventory

Answer: inventory that is in transit between suppliers and customers


Question 9: Most Accurate Demand Forecasting and Examples

Answer: Qualitative. Ex. Ox Story with average of guesses, and Scorpion Submarine




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, Question 10: D =

Answer: demand annually


Question 11: S =

Answer: cost to place single order


Question 12: q/2

Answer: Average inventory


Question 13: AHC

Answer: annual holding cost


Question 14: AOC

Answer: Annual Ordering Cost


Question 15: Purchasing Process

Answer: 1. Requisition 2. Supplier Selection 3. Place Order 4. Track Order 5. Receive Order


Question 16: Requisition

Answer: communicate need to purchase


Question 17: Supplier Selection

Answer: Receive quotes


Question 18: Place Order

Answer: Send PO#


Question 19: Make vs. Buy Example

Answer: Decide to make food at home or go out to eat




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