UARK SCMT 2103 FINAL EXAM
QUESTIONS WITH COMPLETE
SOLUTIONS
Which are important customer-level information types? - Correct Answers -Point of sale,
forecasts, inventory levels, promotional plans
Data that is captured at retail checkout is referred to as __________________ data. -
Correct Answers -point-of-sale
Advanced shipment notices (ASNs) is a ___________-level information type. - Correct
Answers -supplier
How specific is point-of-sale data? - Correct Answers -SKU-time-location specific
Which are fundamental characteristics of firms with high internal integration? - Correct
Answers -They integrate planning activities, they facilitate information exchange across
functional areas, they ensure functional awareness.
Which organizational factors are needed to leverage supply chain visibility and big
data? - Correct Answers -Clear business case for using the data
For a data scientist to be more effective, he or she should have ________________. -
Correct Answers -Broad analytical skills and high domain knowledge
Which is a new way to accomplish business process re-engineering? - Correct Answers
-Using big data and predictive analytics
Which type of flexibility refers to the ability to manage transitions in production and
delivery across heterogeneous products? - Correct Answers -Variety flexibility
Which company is most likely to be historically considered to be a lean company? -
Correct Answers -Walmart
Which type of flexibility refers to taking core products and making changes to them? -
Correct Answers -Customization flexibility
Which is a key outcome of an agile strategy? - Correct Answers -Satisfied customers
,The increasing volatility shown by the Supply Chain Volatility index indicates which
strategy will become increasingly important? - Correct Answers -Agile
Which supply chain strategy works best in high volume, low variety and predictable
environments? - Correct Answers -Lean
Which company was an early pioneer in customization flexibility of personal computers?
- Correct Answers -Dell
The maker movement will ____________ the speed to markets of new products. -
Correct Answers -Increase
The emergence of omnichannel retailing makes the need for which type of flexibility
particularly important? - Correct Answers -Variety
The ability to vary production dramatically is _________________ flexibility. - Correct
Answers -Volume
Which of the following about the future of data is most likely true? - Correct Answers -
Both the digital universe and the amount of tagged data will increase over the next five
years.
Big data is " bigger" because of which factor? - Correct Answers -More volume, more
variety, more velocity
The number of devices connected to the internet is how many times greater than one
year ago? - Correct Answers -200 times
A bottleneck is the ______________ part of a process. - Correct Answers -Slowest
Which type of inventory is the amount of inventory that is expected to sell during a
replenishment period? - Correct Answers -Cycle stock
Which type of inventory allows a company to take advantage of transportation
utilization? - Correct Answers -Cycle stock
Which type of inventory is used as a buffer against uncertainty in demand and lead
time? - Correct Answers -Safety stock
Which of the following is/are a form of inventory? - Correct Answers -Raw materials
Work-in-process
Finished goods
, Which form of inventory is the most expensive to hold? - Correct Answers -Finished
goods
Which form of inventory is being transformed into a final product? - Correct Answers -
Work-in-process
Which type of inventory is in a transportation unit? - Correct Answers -In-transit
inventory
Which type of inventory is the amount of the expected amount of inventory on-hand
when the next replenishment arrives? - Correct Answers -Safety stock
Which is a clear sign of a bottleneck in a manufacturing process? - Correct Answers -
Work-in-process inventory is building behind.
For which type of product is a shipper likely to be least concerned about transportation?
- Correct Answers -Product with low carrying cost
If the inventory carrying cost percentage is 25%, then how much would it cost to carry
an inventory with a value of $900? - Correct Answers -$225
Taking the value of the item, of the inventory, and ________________ the inventory
carrying cost percentage tells me how much it costs to carry that inventory annually. -
Correct Answers -multiplying it by
The cost associated with inventory shrink is classified as a ________ cost. - Correct
Answers -Risk
Which aspect of inventory carrying cost is usually the largest? - Correct Answers -
Capital
Capital costs can be viewed as the _________________ associated with the money
tied up in inventory. - Correct Answers -Opportunity
Obsolescence is likely a bigger problem for which type of product. - Correct Answers -
Fresh apples
Which is a cost associated with inventory? - Correct Answers -Item cost, ordering or
setup cost, shortage cost
carrying cost
Inventory is good in the right _______________. - Correct Answers -Quantity
Inventory is a supply of goods that are held for purpose of _______________. - Correct
Answers -Future utilization
QUESTIONS WITH COMPLETE
SOLUTIONS
Which are important customer-level information types? - Correct Answers -Point of sale,
forecasts, inventory levels, promotional plans
Data that is captured at retail checkout is referred to as __________________ data. -
Correct Answers -point-of-sale
Advanced shipment notices (ASNs) is a ___________-level information type. - Correct
Answers -supplier
How specific is point-of-sale data? - Correct Answers -SKU-time-location specific
Which are fundamental characteristics of firms with high internal integration? - Correct
Answers -They integrate planning activities, they facilitate information exchange across
functional areas, they ensure functional awareness.
Which organizational factors are needed to leverage supply chain visibility and big
data? - Correct Answers -Clear business case for using the data
For a data scientist to be more effective, he or she should have ________________. -
Correct Answers -Broad analytical skills and high domain knowledge
Which is a new way to accomplish business process re-engineering? - Correct Answers
-Using big data and predictive analytics
Which type of flexibility refers to the ability to manage transitions in production and
delivery across heterogeneous products? - Correct Answers -Variety flexibility
Which company is most likely to be historically considered to be a lean company? -
Correct Answers -Walmart
Which type of flexibility refers to taking core products and making changes to them? -
Correct Answers -Customization flexibility
Which is a key outcome of an agile strategy? - Correct Answers -Satisfied customers
,The increasing volatility shown by the Supply Chain Volatility index indicates which
strategy will become increasingly important? - Correct Answers -Agile
Which supply chain strategy works best in high volume, low variety and predictable
environments? - Correct Answers -Lean
Which company was an early pioneer in customization flexibility of personal computers?
- Correct Answers -Dell
The maker movement will ____________ the speed to markets of new products. -
Correct Answers -Increase
The emergence of omnichannel retailing makes the need for which type of flexibility
particularly important? - Correct Answers -Variety
The ability to vary production dramatically is _________________ flexibility. - Correct
Answers -Volume
Which of the following about the future of data is most likely true? - Correct Answers -
Both the digital universe and the amount of tagged data will increase over the next five
years.
Big data is " bigger" because of which factor? - Correct Answers -More volume, more
variety, more velocity
The number of devices connected to the internet is how many times greater than one
year ago? - Correct Answers -200 times
A bottleneck is the ______________ part of a process. - Correct Answers -Slowest
Which type of inventory is the amount of inventory that is expected to sell during a
replenishment period? - Correct Answers -Cycle stock
Which type of inventory allows a company to take advantage of transportation
utilization? - Correct Answers -Cycle stock
Which type of inventory is used as a buffer against uncertainty in demand and lead
time? - Correct Answers -Safety stock
Which of the following is/are a form of inventory? - Correct Answers -Raw materials
Work-in-process
Finished goods
, Which form of inventory is the most expensive to hold? - Correct Answers -Finished
goods
Which form of inventory is being transformed into a final product? - Correct Answers -
Work-in-process
Which type of inventory is in a transportation unit? - Correct Answers -In-transit
inventory
Which type of inventory is the amount of the expected amount of inventory on-hand
when the next replenishment arrives? - Correct Answers -Safety stock
Which is a clear sign of a bottleneck in a manufacturing process? - Correct Answers -
Work-in-process inventory is building behind.
For which type of product is a shipper likely to be least concerned about transportation?
- Correct Answers -Product with low carrying cost
If the inventory carrying cost percentage is 25%, then how much would it cost to carry
an inventory with a value of $900? - Correct Answers -$225
Taking the value of the item, of the inventory, and ________________ the inventory
carrying cost percentage tells me how much it costs to carry that inventory annually. -
Correct Answers -multiplying it by
The cost associated with inventory shrink is classified as a ________ cost. - Correct
Answers -Risk
Which aspect of inventory carrying cost is usually the largest? - Correct Answers -
Capital
Capital costs can be viewed as the _________________ associated with the money
tied up in inventory. - Correct Answers -Opportunity
Obsolescence is likely a bigger problem for which type of product. - Correct Answers -
Fresh apples
Which is a cost associated with inventory? - Correct Answers -Item cost, ordering or
setup cost, shortage cost
carrying cost
Inventory is good in the right _______________. - Correct Answers -Quantity
Inventory is a supply of goods that are held for purpose of _______________. - Correct
Answers -Future utilization
