SCMT 2103 UARK Final
The objective of Walmart's early network design strategy was to - Answer- locate
stores close to distribution centers
Some companies do not outsource because they do not want to - Answer- Lose their
ability to manage the activity
The term ___ today refers to affirm that supplies logistics and possibly other supply
chain management services - Answer- Third party logistics provider
Economies of scale is defined as a reduction in ___ when volumes are increased -
Answer- Average cost per unit
Safety stock is ___ - Answer- The expected number of units on hand just before a
replenishment is received and available for use or sale
____ is the idea that there are many other costs then just the acquisition cost that
should be accounted for in a purchase - Answer- Total cost of ownership
The ___ component of customer service includes such factors as availability of spare
parts technical support feedback and complaint processes etc - Answer- post
transaction
___ Is when a real retailer thinks there is more inventory than there actually is -
Answer- Phantom inventory
___ tells you the percentage of demand for filled from on hand inventory - Answer-
The percentage Item fill rate
ROA is profit divided by ___ - Answer- Assets
One of the direct effects of an increase in transportation costs is to reduce - Answer-
ROA
Inventory turns is ___ divided by ___ - Answer- Sales of COGS; inventory
Logistics leadtime is the time ___ - Answer- From when an order is placed until it's
actually received and ready for use or sale.
As the planning horizon increases forecast error is expected to ___ - Answer-
Increase
Which component of demand represents the degree to which the data is increasing
or decreasing over time? - Answer- Trend
Noises random variation in demand that ___ - Answer- Cannot be explained
, Time series methods are quantitative methods based on assumptions that ___
demand is reflected in ___ demand patterns - Answer- Future; past
causal models may best be used for ___ forecasting wild time series models are
mostly used for ___ forecasting - Answer- Long term; short term
As the number of periods included in a moving average forecast model ___, the
forecast becomes ___ responsive - Answer- Decrease; more
Adjusting last periods forecast by a fraction of the last periods forecast error is called
___ - Answer- Exponential smoothing
The RSFE and MFE are used to measure ___ in forecast error - Answer- Bias
Which forecast error metric is commonly used because it can be easily use for
comparability forecast errors across different product lines? - Answer- Mean
absolute percent error (MAPE)
This question is part of what S&OP process "if there were no constraints from the
supply side what could we actually sell" - Answer- Demand review
CPFR is a process to ___ the forecasting and replenishment processes between
suppliers and retailers - Answer- Integrate
When faced with the stock out which behavior is least likely? - Answer- Do not
purchase item
A ___ is a set of three or more organizations directly wait by one or more of the
upstream and downstream flows of product services finances and information from a
source to a customer - Answer- Supply chain
A strategic alliance relationship is characterized as having: - Answer- heavy resource
commitments and high switching cars
A supply chain manager working for Apple is wearing some trade-offs of a new
product to be in a deuce a marketing manager is proposing the new product to be
made available in 40 different colors with 820 different features that can be part of
the final product just supply chain manager knows that all these different choices will
add complexity and cost of the product to make a decision on the colors and features
the supply chain manager must evaluate which type of supply chain trade off? -
Answer- Product variety inventory
An arm's length relationship is characterized as having: - Answer- little or no
collaboration and low switching costs
An Index: - Answer- combines two or more metrics into a single indicator
As a firm increases spending per transportation services the cost of lose sales
should - Answer- decrease
The objective of Walmart's early network design strategy was to - Answer- locate
stores close to distribution centers
Some companies do not outsource because they do not want to - Answer- Lose their
ability to manage the activity
The term ___ today refers to affirm that supplies logistics and possibly other supply
chain management services - Answer- Third party logistics provider
Economies of scale is defined as a reduction in ___ when volumes are increased -
Answer- Average cost per unit
Safety stock is ___ - Answer- The expected number of units on hand just before a
replenishment is received and available for use or sale
____ is the idea that there are many other costs then just the acquisition cost that
should be accounted for in a purchase - Answer- Total cost of ownership
The ___ component of customer service includes such factors as availability of spare
parts technical support feedback and complaint processes etc - Answer- post
transaction
___ Is when a real retailer thinks there is more inventory than there actually is -
Answer- Phantom inventory
___ tells you the percentage of demand for filled from on hand inventory - Answer-
The percentage Item fill rate
ROA is profit divided by ___ - Answer- Assets
One of the direct effects of an increase in transportation costs is to reduce - Answer-
ROA
Inventory turns is ___ divided by ___ - Answer- Sales of COGS; inventory
Logistics leadtime is the time ___ - Answer- From when an order is placed until it's
actually received and ready for use or sale.
As the planning horizon increases forecast error is expected to ___ - Answer-
Increase
Which component of demand represents the degree to which the data is increasing
or decreasing over time? - Answer- Trend
Noises random variation in demand that ___ - Answer- Cannot be explained
, Time series methods are quantitative methods based on assumptions that ___
demand is reflected in ___ demand patterns - Answer- Future; past
causal models may best be used for ___ forecasting wild time series models are
mostly used for ___ forecasting - Answer- Long term; short term
As the number of periods included in a moving average forecast model ___, the
forecast becomes ___ responsive - Answer- Decrease; more
Adjusting last periods forecast by a fraction of the last periods forecast error is called
___ - Answer- Exponential smoothing
The RSFE and MFE are used to measure ___ in forecast error - Answer- Bias
Which forecast error metric is commonly used because it can be easily use for
comparability forecast errors across different product lines? - Answer- Mean
absolute percent error (MAPE)
This question is part of what S&OP process "if there were no constraints from the
supply side what could we actually sell" - Answer- Demand review
CPFR is a process to ___ the forecasting and replenishment processes between
suppliers and retailers - Answer- Integrate
When faced with the stock out which behavior is least likely? - Answer- Do not
purchase item
A ___ is a set of three or more organizations directly wait by one or more of the
upstream and downstream flows of product services finances and information from a
source to a customer - Answer- Supply chain
A strategic alliance relationship is characterized as having: - Answer- heavy resource
commitments and high switching cars
A supply chain manager working for Apple is wearing some trade-offs of a new
product to be in a deuce a marketing manager is proposing the new product to be
made available in 40 different colors with 820 different features that can be part of
the final product just supply chain manager knows that all these different choices will
add complexity and cost of the product to make a decision on the colors and features
the supply chain manager must evaluate which type of supply chain trade off? -
Answer- Product variety inventory
An arm's length relationship is characterized as having: - Answer- little or no
collaboration and low switching costs
An Index: - Answer- combines two or more metrics into a single indicator
As a firm increases spending per transportation services the cost of lose sales
should - Answer- decrease
