SCMT 2103 UARK Final Review Exam
Questions With Correct Answers
The |objective |of |Walmart's |early |network |design |strategy |was |to |- |CORRECT |ANSWER✔✔-
locate |stores |close |to |distribution |centers
Some |companies |do |not |outsource |because |they |do |not |want |to |- |CORRECT |ANSWER✔✔-Lose
|their |ability |to |manage |the |activity
The |term |___ |today |refers |to |affirm |that |supplies |logistics |and |possibly |other |supply |chain |
management |services |- |CORRECT |ANSWER✔✔-Third |party |logistics |provider
Economies |of |scale |is |defined |as |a |reduction |in |___ |when |volumes |are |increased |- |CORRECT |
ANSWER✔✔-Average |cost |per |unit
Safety |stock |is |___ |- |CORRECT |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 |- |CORRECT |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 |- |CORRECT |ANSWER✔✔-post |
transaction
___ |Is |when |a |real |retailer |thinks |there |is |more |inventory |than |there |actually |is |- |CORRECT |
ANSWER✔✔-Phantom |inventory
, ___ |tells |you |the |percentage |of |demand |for |filled |from |on |hand |inventory |- |CORRECT |
ANSWER✔✔-The |percentage |Item |fill |rate
ROA |is |profit |divided |by |___ |- |CORRECT |ANSWER✔✔-Assets
One |of |the |direct |effects |of |an |increase |in |transportation |costs |is |to |reduce |- |CORRECT |
ANSWER✔✔-ROA
Inventory |turns |is |___ |divided |by |___ |- |CORRECT |ANSWER✔✔-Sales |of |COGS; |inventory
Logistics |leadtime |is |the |time |___ |- |CORRECT |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 |___ |- |CORRECT |ANSWER✔✔-
Increase
Which |component |of |demand |represents |the |degree |to |which |the |data |is |increasing |or |
decreasing |over |time? |- |CORRECT |ANSWER✔✔-Trend
Noises |random |variation |in |demand |that |___ |- |CORRECT |ANSWER✔✔-Cannot |be |explained
Time |series |methods |are |quantitative |methods |based |on |assumptions |that |___ |demand |is |
reflected |in |___ |demand |patterns |- |CORRECT |ANSWER✔✔-Future; |past
causal |models |may |best |be |used |for |___ |forecasting |wild |time |series |models |are |mostly |used |
for |___ |forecasting |- |CORRECT |ANSWER✔✔-Long |term; |short |term
As |the |number |of |periods |included |in |a |moving |average |forecast |model |___, |the |forecast |
becomes |___ |responsive |- |CORRECT |ANSWER✔✔-Decrease; |more
Questions With Correct Answers
The |objective |of |Walmart's |early |network |design |strategy |was |to |- |CORRECT |ANSWER✔✔-
locate |stores |close |to |distribution |centers
Some |companies |do |not |outsource |because |they |do |not |want |to |- |CORRECT |ANSWER✔✔-Lose
|their |ability |to |manage |the |activity
The |term |___ |today |refers |to |affirm |that |supplies |logistics |and |possibly |other |supply |chain |
management |services |- |CORRECT |ANSWER✔✔-Third |party |logistics |provider
Economies |of |scale |is |defined |as |a |reduction |in |___ |when |volumes |are |increased |- |CORRECT |
ANSWER✔✔-Average |cost |per |unit
Safety |stock |is |___ |- |CORRECT |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 |- |CORRECT |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 |- |CORRECT |ANSWER✔✔-post |
transaction
___ |Is |when |a |real |retailer |thinks |there |is |more |inventory |than |there |actually |is |- |CORRECT |
ANSWER✔✔-Phantom |inventory
, ___ |tells |you |the |percentage |of |demand |for |filled |from |on |hand |inventory |- |CORRECT |
ANSWER✔✔-The |percentage |Item |fill |rate
ROA |is |profit |divided |by |___ |- |CORRECT |ANSWER✔✔-Assets
One |of |the |direct |effects |of |an |increase |in |transportation |costs |is |to |reduce |- |CORRECT |
ANSWER✔✔-ROA
Inventory |turns |is |___ |divided |by |___ |- |CORRECT |ANSWER✔✔-Sales |of |COGS; |inventory
Logistics |leadtime |is |the |time |___ |- |CORRECT |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 |___ |- |CORRECT |ANSWER✔✔-
Increase
Which |component |of |demand |represents |the |degree |to |which |the |data |is |increasing |or |
decreasing |over |time? |- |CORRECT |ANSWER✔✔-Trend
Noises |random |variation |in |demand |that |___ |- |CORRECT |ANSWER✔✔-Cannot |be |explained
Time |series |methods |are |quantitative |methods |based |on |assumptions |that |___ |demand |is |
reflected |in |___ |demand |patterns |- |CORRECT |ANSWER✔✔-Future; |past
causal |models |may |best |be |used |for |___ |forecasting |wild |time |series |models |are |mostly |used |
for |___ |forecasting |- |CORRECT |ANSWER✔✔-Long |term; |short |term
As |the |number |of |periods |included |in |a |moving |average |forecast |model |___, |the |forecast |
becomes |___ |responsive |- |CORRECT |ANSWER✔✔-Decrease; |more
