SCMT FINAL EXAM QUESTIONS AND ANSWERS
Tells you lost sales using the percentage of demand fulfilled from on hand inventory -
Answers :the item fill rate (IFR)
Perpetual inventory is one of the major ways that ____________________ and
percentage of items in stock are measured.
Item fill rate
None of these
Percentage of time in stock
Standard deviation - Answers :percentage of time in stock
Which of the following are common elements of the total cost of ownership model:
None of these is part of the TCO model
All of these are part of the TCO model
Operation cost
Transportation cost
Acquisition cost - Answers :All of these are part of the TCO mode
The ___________ component of customer service includes such factors as availability
of spare parts, technical support, feedback and complaint processes, et cetera.
Pre-transaction
Mid-transaction
,Transaction
Post-transaction - Answers :post-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.
Responsiveness
None of these
All of these
Flexibility
Agility - Answers :all of these
____________ is when a retailer thinks there is more inventory than there actually is.
Phantom inventory
Estimated inventory
Item fill rate
Inaccurate inventory - Answers :phantom
____________________tells you lost sales using the percentage of demand fulfilled
from on hand inventory.
The item fill rate (IFR)
The percentage of time in stock (PTIS)
,The percentage of items in stock
None of these - Answers :item fill rate
When a shopper in a retail store encounters an out-of-stock, there are a number of
reactions that are possible. Which of the following are options discussed in this lesson?
Switch to another size, flavor, or type, within the same brand
All of these are options
Switch to another category but same product type
Switch to another brand
None of these are options - Answers :all of these are options
One approach to estimating the cost of a stockout per unit of lost sale is to calculate an
estimate of the ____________.
Probability
None of these
Internal rate of return
Net present value
Expected value - Answers :expected value
____ and ____ of variation are best measures of reliability of a logistics process -
Answers :SD and Coefficient
, Retail shelf is very expensive because ___________:
The opportunity cost of alternate products
The land is expensive
The shelf is expensive
It takes lots of time to put products on the shelf. - Answers :the opportunity cost of
alternate products
_____________ is the idea that there are many other costs than just the acquisition
cost that should be accounted for in a purchase. - Answers :Total cost of ownership
The _____________ component of customer service concerns how the policies,
organizational structure, and culture of a company affect customer service.
Pre-transaction
Post-transaction
Transaction
Mid-transaction - Answers :pre transaction
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.
Mid-transaction
Pre-transaction
Transaction
Post-transaction - Answers :transaction
Assume an item is in stock for 2 weeks but out of stock on the third week. We could use
this information to calculate __________________.
The item fill rate (IFR)
The percentage of items in stock
The percentage of time in stock (PTIS)
None of these - Answers :the percentage of time in stock (PTIS)
The product's dollar value and weight density typically affect the cost of logistics
activities. Which is not one of these affected logistics costs? - Answers :promotion costs
According to the most recent State of Logistics report how would you describe the 2016
logistics costs as a percentage of GDP? - Answers :logistics cost as a percent of GDP
is at its lowest since 2009
Tells you lost sales using the percentage of demand fulfilled from on hand inventory -
Answers :the item fill rate (IFR)
Perpetual inventory is one of the major ways that ____________________ and
percentage of items in stock are measured.
Item fill rate
None of these
Percentage of time in stock
Standard deviation - Answers :percentage of time in stock
Which of the following are common elements of the total cost of ownership model:
None of these is part of the TCO model
All of these are part of the TCO model
Operation cost
Transportation cost
Acquisition cost - Answers :All of these are part of the TCO mode
The ___________ component of customer service includes such factors as availability
of spare parts, technical support, feedback and complaint processes, et cetera.
Pre-transaction
Mid-transaction
,Transaction
Post-transaction - Answers :post-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.
Responsiveness
None of these
All of these
Flexibility
Agility - Answers :all of these
____________ is when a retailer thinks there is more inventory than there actually is.
Phantom inventory
Estimated inventory
Item fill rate
Inaccurate inventory - Answers :phantom
____________________tells you lost sales using the percentage of demand fulfilled
from on hand inventory.
The item fill rate (IFR)
The percentage of time in stock (PTIS)
,The percentage of items in stock
None of these - Answers :item fill rate
When a shopper in a retail store encounters an out-of-stock, there are a number of
reactions that are possible. Which of the following are options discussed in this lesson?
Switch to another size, flavor, or type, within the same brand
All of these are options
Switch to another category but same product type
Switch to another brand
None of these are options - Answers :all of these are options
One approach to estimating the cost of a stockout per unit of lost sale is to calculate an
estimate of the ____________.
Probability
None of these
Internal rate of return
Net present value
Expected value - Answers :expected value
____ and ____ of variation are best measures of reliability of a logistics process -
Answers :SD and Coefficient
, Retail shelf is very expensive because ___________:
The opportunity cost of alternate products
The land is expensive
The shelf is expensive
It takes lots of time to put products on the shelf. - Answers :the opportunity cost of
alternate products
_____________ is the idea that there are many other costs than just the acquisition
cost that should be accounted for in a purchase. - Answers :Total cost of ownership
The _____________ component of customer service concerns how the policies,
organizational structure, and culture of a company affect customer service.
Pre-transaction
Post-transaction
Transaction
Mid-transaction - Answers :pre transaction
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.
Mid-transaction
Pre-transaction
Transaction
Post-transaction - Answers :transaction
Assume an item is in stock for 2 weeks but out of stock on the third week. We could use
this information to calculate __________________.
The item fill rate (IFR)
The percentage of items in stock
The percentage of time in stock (PTIS)
None of these - Answers :the percentage of time in stock (PTIS)
The product's dollar value and weight density typically affect the cost of logistics
activities. Which is not one of these affected logistics costs? - Answers :promotion costs
According to the most recent State of Logistics report how would you describe the 2016
logistics costs as a percentage of GDP? - Answers :logistics cost as a percent of GDP
is at its lowest since 2009
