BUAD 331 Exam 3 Graded A Q&A Complete

Define order cycle time. - The total elapsed time from when the customer first recognizes need to when that need is ultimately fulfilled The difference between the customer's desired order cycle time and the total supply chain order cycle time is known as: - lead time gap The economic order quantity (EOQ) model aims to: - calculate the optimal amount of inventory to be reordered by balancing ordering costs with carrying costs. If average daily demand for a product is 5 units and average lead time for an order to arrive is 7 days, what is the reorder point (ROP) for the product? - 35 units Ted and his friend Matt start a new company called Crabman Auto Parts. They have heard about agile order fulfillment and are interested in implementing it to decrease costs. Which of the following best describes the strategy Crabman Auto Parts should follow to take advantage of agile order fulfillment? - Synchronize information exchange across the supply chain and form strategic relationships with key customers and suppliers. The move to lean and then responsive value creation requires a paradigm shift from a _______ mentality to a customer ________ mentality. - product-focused push, demand-focused pull In high-end restaurants, steaks are generally cooked after the wait staff place the order to the kitchen with customers' preference. Which of the following techniques best describes the fulfillment of steak orders to the final customer? - Responsive What negative outcomes can result from large lot-sized, long lead-time operations? - All of the above Procurement, conversion, and logistics are activities that must be done to fulfill a company's exchange commitments. - TrueWhich of the following factors typically contribute to increased delays and variability of lead times in the global supply chain? - Complexity required for movement of goods between countries Noodles & Company uses Coca-Cola Freestyle beverage machines that allow people to select from more than 100 regular and low-calorie brands. What kind of order fulfillment technique is Coca-Cola Freestyle beverage machine using? - Hybrid lean and agile What negative impact can result from large lot, long lead-time operations? - The items are in places and at times customers don't want them. What key product type is marked by contribution margins of 20 to 60 percent, one- or two-day lead times, and high product variety? - Innovative What key product type is marked by contribution margins of 5 to 20 percent, six- to twelve-month lead times, and low product variety? - Functional Which of the following is NOT a characteristic of an efficient supply chain? - Select primarily for speed, flexibility, and quality The demand penetration point is the place or stage in the supply chain where ________ are accepted and fulfilled. - Consumer orders Ted's Wicked Dive Shop needs to put together a reorder plan for breathing regulators. Given that this product is high cost and highly customized in order to meet the unique demands of different divers, Ted should utilize which of the following strategies? - Order regulators based on actual customer orders and work with supplier-partners to quickly configure and ship the regulators directly to customers Which of the following is not one of the three questions a manager should ask when making an order fulfillment decision? - How should we price the product? If average daily demand for a product is twelve units and average lead time for an order to arrive is four days, what is the reorder point (ROP) for the product? - 48 unitsWhat is the economic order quantity (EOQ) in this system? - 400 units of inventory Lean order fulfillment differs from traditional order fulfillment in that lean utilizes: - smaller inventory deployment and shorter cycle times What is one major issue that still exists in a lean fulfillment model? - Requirement to hold inventory in anticipation of customer orders Demand for fashion goods are difficult to predict. Zara produces standardized, un-dyed clothes beforehand, and then dyes clothes into different colors once end-customer demand is realized. Why does Zara do this? - Zara postpones the dyeing process to help match supply capacity to uncertain demand. In relation to the overall supply chain, ______ place a priority on cost savings while _______ place a priority on doing whatever necessary to deliver form, time, and place as promised on a specific order. - upstream operations, downstream operations Ted wanted to paint his upstairs hallway. He selected four different colors of brown/beige and chose "Puppy Paws," which Lowe's mixed for him on site. This method of order fulfilment is an example of __________: - Manufacturing or form postponement Ordering supplies twice per year vs. four times per year can result in __________ due to __________? - higher inventory carrying costs, higher average inventory levels Which of the following is not a technique for fulfilling customer orders? - Supply cycle time Which of the following is the primary issue enterprise systems are designed to address? - Information fragmentation Which ERP vendor entered the enterprise system market nearly 30 years after the first solution was introduced? - OracleWhich enterprise system facilitates an organization working more effectively with its supplier pool? - SRM EDI and API are essentially the same thing called by different names. - False _______________ is the physical integration of disparate systems among supply chain ecosystem members to exchange information in a timely and qualitative manner. - Business-to-business integration Electronic linkages help to ensure large businesses and SMBs can more efficiently and effectively execute procurement and fulfillment processes? - True The purpose of a _________ is to observe and document everything he/she sees. - Watcher Warehouse automation is another phrase for WMS. - False The goal of a _____________ is to facilitate the movement of goods and raw materials from origin to destination in an efficient, reliable, and cost-effective manner. - TMS Which of the following is not a common reason organizations invest in IT? - Additional funds allocated to the IT operating budget Approximately 20 percent of supply chain leaders believe the digital supply chain will be the predominant model within the next five years. - False ___________ risks are more about behaviors or perceptions of individuals that can negatively impact the IT solution in question. - Social ___________ represents the most ubiquitous and traditional form of inter-organizational communication systems. - EDI_____________ is the IT adoption approach that is most likely to result in a more rigid IT infrastructure. - Best-of-suite _________________ is an architectural philosophy that can facilitate organizations use of reusable services that enable more seamless and timely information exchange. - Service-oriented architecture DeRoyals's Continuum product is an example of technology push. - FALSE Blockchain is an example of demand pull. - FALSE In the context of a-commerce, always on is equivalent to 24/7 operations. - FALSE Which of the following enterprise systems is considered to be more intra-organizational? - ERP The intersection of which two solutions is vital for effective inventory management? - TMS and WMS The overwhelming majority of organizations understand the value and benefit of analytics to the point that they have a defined analytics strategy? - False A system that enables a company to optimize its procurement strategy is a ____________ system. - SRM