UARK SCMT 2103 Exam 1 Questions
With Correct Answers
Average |inventory |last |year |was |$200,000 |and |turns |were |6. |What |was |cost |of |goods |sold |last |
year? |- |CORRECT |ANSWER✔✔-$1,200,000
The |inventory |holding |cost |factor |is |10% |and |the |average |inventory |next |year |is |expected |to |
be |$1.5 |billion. |What |is |the |expected |inventory |holding |cost? |- |CORRECT |ANSWER✔✔-
$150,000,000
MegaMart |operates |365 |days |a |year. |Annual |inventory |turns |of |a |popular |product |is |11. |How |
many |days |of |supply |does |that |represent? |- |CORRECT |ANSWER✔✔-33
Which |of |the |following |is |a |theme |throughout |the |course? |- |CORRECT |ANSWER✔✔-How |
logistics |and |supply |chain |management |can |be |used |to |create |a |competitive |advantage
The |objective |of |Walmart's |early |network |design |strategy |was |to: |- |CORRECT |ANSWER✔✔-
Locate |stores |close |to |a |Distribution |Center
Which |of |the |following |products |would |you |expect |to |require |the |most |safety |stock?
Product |A: |Standard |Deviation |of |Sales |= |30, |Standard |Deviation |of |Lead |Time |= |30
Product |B: |Standard |Deviation |of |Sales |= |25, |Standard |Deviation |of |Lead |Time |= |15
Product |C: |Standard |Deviation |of |Sales |= |20, |Standard |Deviation |of |Lead |Time |= |20
Product |D: |Standard |Deviation |of |Sales |= |20, |Standard |Deviation |of |Lead |Time |= |25 |- |CORRECT
|ANSWER✔✔-Product |A
Which |of |the |following |products |would |you |expect |to |require |the |most |safety |stock?
Product |A: |Standard |Deviation |of |Sales |= |25, |Standard |Deviation |of |Lead |Time |= |19
, Product |B: |Standard |Deviation |of |Sales |= |29, |Standard |Deviation |of |Lead |Time |= |25
Product |C: |Standard |Deviation |of |Sales |= |15, |Standard |Deviation |of |Lead |Time |= |20
Product |D: |Standard |Deviation |of |Sales |= |25, |Standard |Deviation |of |Lead |Time |= |20 |- |CORRECT
|ANSWER✔✔-Product |B
Responsiveness |in |the |4 |R's |of |supply |chain |competition |is |defined |as |being |able |to |
_________________. |- |CORRECT |ANSWER✔✔-change |logistics |and |supply |chain |management |
activities |quickly
Economies |of |scale |is |defined |as |a |reduction |in |________ |when |volumes |are |increased. |- |
CORRECT |ANSWER✔✔-average |cost |per |unit
Suppose |a |company |orders |10 |pallets |of |bottled |water, |14 |oz. |per |bottle, |and |$0.05 |per |bottle.
|There |are |2,000 |bottles |per |pallet. |Suppose |they |use |a |truckload |carrier |and |it |costs |a |flat |rate
|of |$1,000 |for |the |transportation. |So |the |purchase |cost |is |$0.05 |per |bottle |X |2,000 |bottles |per |
pallet |X |10 |pallets |= |$1,000. |So |the |purchase |cost |plus |the |transportation |cost |is |$2,000, |
hence, |the |total |cost |per |bottle |is |$2,000 |/ |20,000 |bottles |= |$0.10 |per |bottle. |In |this |example, |
the |company |only |ordered |10 |pallets |but |a |truck |load |has |a |capacity |of |about |20 |pallets |of |
bottled |water. |Instead, |suppose |they |ordered |20 |pallets |of |bottled |water, |the |transportation |
cost |will |be |the |same |but |the |purchase |cost |will |now |be |$0.05 |per |bottle |X |2,000 |bottles |per |
pallet |X |20 |pallets |= |$2,000. |Hence |the |purchase |cost |plus |the |transportation |cost |is |$3,000, |
so |the |total |cost |per |bottle |is |$3,000 |/ |40,000 |bottles |˜ |$0.08 |per |bottle |(rounded |- |CORRECT |
ANSWER✔✔-Economies |of |scale
Supply |chain |management |is |the |management |of |the |_______ |of |business |processes |between |
functions |in |a |firm |and |with |suppliers |and |customers. |- |CORRECT |ANSWER✔✔-integration
Process |improvement |is |concerned |with |increasing |the |speed |of |the |process, |reducing |the |
cost |of |the |process, |or |increasing |the |reliability |of |the |process, |without |changing |
____________. |- |CORRECT |ANSWER✔✔-the |order |of |activities
With Correct Answers
Average |inventory |last |year |was |$200,000 |and |turns |were |6. |What |was |cost |of |goods |sold |last |
year? |- |CORRECT |ANSWER✔✔-$1,200,000
The |inventory |holding |cost |factor |is |10% |and |the |average |inventory |next |year |is |expected |to |
be |$1.5 |billion. |What |is |the |expected |inventory |holding |cost? |- |CORRECT |ANSWER✔✔-
$150,000,000
MegaMart |operates |365 |days |a |year. |Annual |inventory |turns |of |a |popular |product |is |11. |How |
many |days |of |supply |does |that |represent? |- |CORRECT |ANSWER✔✔-33
Which |of |the |following |is |a |theme |throughout |the |course? |- |CORRECT |ANSWER✔✔-How |
logistics |and |supply |chain |management |can |be |used |to |create |a |competitive |advantage
The |objective |of |Walmart's |early |network |design |strategy |was |to: |- |CORRECT |ANSWER✔✔-
Locate |stores |close |to |a |Distribution |Center
Which |of |the |following |products |would |you |expect |to |require |the |most |safety |stock?
Product |A: |Standard |Deviation |of |Sales |= |30, |Standard |Deviation |of |Lead |Time |= |30
Product |B: |Standard |Deviation |of |Sales |= |25, |Standard |Deviation |of |Lead |Time |= |15
Product |C: |Standard |Deviation |of |Sales |= |20, |Standard |Deviation |of |Lead |Time |= |20
Product |D: |Standard |Deviation |of |Sales |= |20, |Standard |Deviation |of |Lead |Time |= |25 |- |CORRECT
|ANSWER✔✔-Product |A
Which |of |the |following |products |would |you |expect |to |require |the |most |safety |stock?
Product |A: |Standard |Deviation |of |Sales |= |25, |Standard |Deviation |of |Lead |Time |= |19
, Product |B: |Standard |Deviation |of |Sales |= |29, |Standard |Deviation |of |Lead |Time |= |25
Product |C: |Standard |Deviation |of |Sales |= |15, |Standard |Deviation |of |Lead |Time |= |20
Product |D: |Standard |Deviation |of |Sales |= |25, |Standard |Deviation |of |Lead |Time |= |20 |- |CORRECT
|ANSWER✔✔-Product |B
Responsiveness |in |the |4 |R's |of |supply |chain |competition |is |defined |as |being |able |to |
_________________. |- |CORRECT |ANSWER✔✔-change |logistics |and |supply |chain |management |
activities |quickly
Economies |of |scale |is |defined |as |a |reduction |in |________ |when |volumes |are |increased. |- |
CORRECT |ANSWER✔✔-average |cost |per |unit
Suppose |a |company |orders |10 |pallets |of |bottled |water, |14 |oz. |per |bottle, |and |$0.05 |per |bottle.
|There |are |2,000 |bottles |per |pallet. |Suppose |they |use |a |truckload |carrier |and |it |costs |a |flat |rate
|of |$1,000 |for |the |transportation. |So |the |purchase |cost |is |$0.05 |per |bottle |X |2,000 |bottles |per |
pallet |X |10 |pallets |= |$1,000. |So |the |purchase |cost |plus |the |transportation |cost |is |$2,000, |
hence, |the |total |cost |per |bottle |is |$2,000 |/ |20,000 |bottles |= |$0.10 |per |bottle. |In |this |example, |
the |company |only |ordered |10 |pallets |but |a |truck |load |has |a |capacity |of |about |20 |pallets |of |
bottled |water. |Instead, |suppose |they |ordered |20 |pallets |of |bottled |water, |the |transportation |
cost |will |be |the |same |but |the |purchase |cost |will |now |be |$0.05 |per |bottle |X |2,000 |bottles |per |
pallet |X |20 |pallets |= |$2,000. |Hence |the |purchase |cost |plus |the |transportation |cost |is |$3,000, |
so |the |total |cost |per |bottle |is |$3,000 |/ |40,000 |bottles |˜ |$0.08 |per |bottle |(rounded |- |CORRECT |
ANSWER✔✔-Economies |of |scale
Supply |chain |management |is |the |management |of |the |_______ |of |business |processes |between |
functions |in |a |firm |and |with |suppliers |and |customers. |- |CORRECT |ANSWER✔✔-integration
Process |improvement |is |concerned |with |increasing |the |speed |of |the |process, |reducing |the |
cost |of |the |process, |or |increasing |the |reliability |of |the |process, |without |changing |
____________. |- |CORRECT |ANSWER✔✔-the |order |of |activities
