Elaborate APICS CSCP Test Prep Questions
with Exact Answers.
General export license - Correct answer-allows export of most goods without restrictions
validation export license - Correct answer-required for shippers who wish to sell
strategically sensitive items abroad
TIR Carnet - Correct answer-"transport international routier"
enables sealed road transport trailers and containers to avoid customs inspections until
the destination country is reached
EU only uses it when the shipment originate or ends outside of EU customs territory, or if
the shipment is temporarily brought out of and into EU customs territory
because UK left EU, UK must now use it in order to conduct EU trade
CMR / eCMR Waybill - Correct answer-or consignment note
helps regulate carrier liability and requires standardized information about the shipment,
origin, destination, dangerous good, etc.
also requires carriers to give prompt notice of damages
ATA Carnet - Correct answer-"Admission Temporaire/Temporary Admission"
can cross several boundaries duty- and tax-free without customs inspection
originally intended to apply to items merely passing through a jurisdiction, not being
imported into it
now cover almost any type of goods, excluding disposable and consumable items, and is
used worldwide
, demand-driven material requirements planning (DDMRP) - Correct answer-highlights the
strategic positioning of inventory (acting as a decoupling point) in a bill of material or a
supply chain
dynamically determines the best places to position inventory and dynamically adjusts the
size of buffer inventories to maximize return on investment for the inventory by performing
daily reviews that account for how long customers will wait for their orders, whether faster
lead time would generate new sales, and whether certain inventory positions would leave
the organization with more options for dynamic lead time compression
steps in the sourcing process include - Correct answer-1) Develop/validate supply plan
2) Research supply market
3) Create/refine categories and category strategy
4) Do spend and portfolio analyses
5) Segment suppliers
6) Conduct procurement processes
7) Continuously improve
calculating inventory turnover ratio (manufacturing) - Correct answer-Inventory Turnover
Ratio = Cost of Goods Sold / Average Inventory
calculating inventory turnover ratio - Correct answer-Inventory Turnover Ratio = Sales /
Average Inventory
calculating Cost of Goods Sold - Correct answer-COGS = Direct Material + Direct Labor +
Overhead
calculating Cash-To-Cash cycle time - Correct answer-Cash-To-Cash Cycle Time = Days'
Sales Outstanding + Inventory Days of Supply - Days' Payables Outstanding
calculating percentages for a probability and impact matrix - Correct answer-For each
assessed item, multiply the impact and probability
Then divide by 100 to get the percentage
calculating Expected Monetary Value of a risk after the response is factored in - Correct
answer-EMV = Probability x (Impact + Cost)
with Exact Answers.
General export license - Correct answer-allows export of most goods without restrictions
validation export license - Correct answer-required for shippers who wish to sell
strategically sensitive items abroad
TIR Carnet - Correct answer-"transport international routier"
enables sealed road transport trailers and containers to avoid customs inspections until
the destination country is reached
EU only uses it when the shipment originate or ends outside of EU customs territory, or if
the shipment is temporarily brought out of and into EU customs territory
because UK left EU, UK must now use it in order to conduct EU trade
CMR / eCMR Waybill - Correct answer-or consignment note
helps regulate carrier liability and requires standardized information about the shipment,
origin, destination, dangerous good, etc.
also requires carriers to give prompt notice of damages
ATA Carnet - Correct answer-"Admission Temporaire/Temporary Admission"
can cross several boundaries duty- and tax-free without customs inspection
originally intended to apply to items merely passing through a jurisdiction, not being
imported into it
now cover almost any type of goods, excluding disposable and consumable items, and is
used worldwide
, demand-driven material requirements planning (DDMRP) - Correct answer-highlights the
strategic positioning of inventory (acting as a decoupling point) in a bill of material or a
supply chain
dynamically determines the best places to position inventory and dynamically adjusts the
size of buffer inventories to maximize return on investment for the inventory by performing
daily reviews that account for how long customers will wait for their orders, whether faster
lead time would generate new sales, and whether certain inventory positions would leave
the organization with more options for dynamic lead time compression
steps in the sourcing process include - Correct answer-1) Develop/validate supply plan
2) Research supply market
3) Create/refine categories and category strategy
4) Do spend and portfolio analyses
5) Segment suppliers
6) Conduct procurement processes
7) Continuously improve
calculating inventory turnover ratio (manufacturing) - Correct answer-Inventory Turnover
Ratio = Cost of Goods Sold / Average Inventory
calculating inventory turnover ratio - Correct answer-Inventory Turnover Ratio = Sales /
Average Inventory
calculating Cost of Goods Sold - Correct answer-COGS = Direct Material + Direct Labor +
Overhead
calculating Cash-To-Cash cycle time - Correct answer-Cash-To-Cash Cycle Time = Days'
Sales Outstanding + Inventory Days of Supply - Days' Payables Outstanding
calculating percentages for a probability and impact matrix - Correct answer-For each
assessed item, multiply the impact and probability
Then divide by 100 to get the percentage
calculating Expected Monetary Value of a risk after the response is factored in - Correct
answer-EMV = Probability x (Impact + Cost)
