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BUAD 331 Final Exam 2025 – University of Tennessee
Knoxville (UTK) Business Administration
Comprehensive Study Guide & Practice Test
Ace your BUAD 331 Final Exam at the University of Tennessee, Knoxville (UTK) with this
complete 2025 study guide and practice test. Includes realistic exam questions, detailed
answer explanations, and business administration concepts covering marketing,
management, finance, and operations. Designed to help UTK students master core business
principles, case analyses, and quantitative reasoning for top exam performance.
BUAD 331 Final Exam 2025,
BUAD 331 UTK final exam,
University of Tennessee BUAD 331,
BUAD 331 business administration exam,
Procurement, conversion, and logistics are activities that must be done to fulfill a company's exchange
commitments.
a. True
b. False - ANSWER-a. True
In an end-to-end supply chain, the order cycle begins when __________.
a. a firm is notified of customer need
b. when a customer places an order
c. when a customer recognizes a need
d. when a customer acknowledges the need as being fulfilled
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e. Either a or c - ANSWER-b. when a customer places an order
Stock-outs can result in which of the following?
a. Back orders
b. Lost sales
c. Lost customer
d. All of the above
e. None of the above - ANSWER-d. All of the above
A new company is interested in implementing lean order fulfillment to decrease costs. Which of the
following best describes the strategy the company should follow to take advantage of lean order
fulfillment?
a. Increase variability of demand by running frequent promotional campaigns and discounts for select
products.
b. Purchase off-season products in bulk to take advantage of manufacturers' discounts.
c. Increase complexity in the supply chain to ensure products are made to automobile manufacturers'
strict specifications.
d. Reduce order setup times and integrate across internal functions and externally with key suppliers to
reduce cycle times and variance.
e. Select suppliers based on lowest unit purchase price regardless of delivery reliability. - ANSWER-d.
Reduce order setup times and integrate across internal functions and externally with key suppliers to
reduce cycle times and variance.
The move to lean and then responsive value creation requires a paradigm shift from a _______ mentality
to a customer ________ mentality.
a. hybrid style, retention
b. product-focused push, demand-focused pull
c. demand-focused push, product-focused pull
d. product-order completion, time-saving - ANSWER-b. product-focused push, demand-focused pull
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In high-end restaurants, steaks are generally cooked after the wait staff places the order to the kitchen
with the customers' preference. Which of the following techniques best describes the fulfillment of steak
orders to the final customer?
a. Anticipatory
b. Responsive
c. Postpone
d. Lean - ANSWER-b. Responsive
What negative outcomes can result from large lot-sized, long lead-time operations?
a. Customers don't want the items.
b. The items are in places and at times customers don't want them.
c. Unsold products are sold at reduced prices or scrapped altogether.
d. All of the above - ANSWER-d. All of the above
When ordering large quantities of products ___________ are high and ___________ are low.
a. setup costs; order costs
b. carrying costs; setup costs
c. carrying costs; facility costs
d. setup costs; carrying costs
e. facility costs; handling costs - ANSWER-b. carrying costs; setup costs
When graphed, the intersection of the order/setup cost curve and the carrying cost curve represents
the:
a. ROP
b. TQM
c. EOQ
d. CRM
e. FIFO - ANSWER-c. EOQ
Which of the following are flaws in the Sawtooth model?
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a. It assumes average delivery times do not vary.
b. It assumes average daily sales do not vary.
c. It does not consider the standard deviation of demand or lead time.
d. All of the above
e. a & b - ANSWER-d. All of the above
Lean supply chain value creation is ___________ while responsive supply chain value creation is
_______________.
a. customer-demand-focused; product-focused
b. product-focused; customer-demand-focused
c. a push mentality; a pull mentality
d. Both a & b
e. Both b & c - ANSWER-b. product-focused; customer-demand-focused
The order cycle begins with _______________ and ends when ________________.
a. order receipt/processing; the customer acknowledges their need as fulfilled
b. order shipment; the order is completed
c. customer need recognition; the customer acknowledges their need as fulfilled
d. order receipt/processing; the order is completed
e. customer need recognition; the order is completed - ANSWER-c. customer need recognition; the
customer acknowledges their need as fulfilled
Enterprise systems are primarily designed to address which of the following issues?
a. Business process standardization
b. Information fragmentation
c. Lack of control over personnel work tasks
d. None of the above are correct - ANSWER-b. Information fragmentation
Which ERP vendor entered the enterprise system market nearly 30 years after the first solution was
introduced?
BUAD 331 Final Exam 2025 – University of Tennessee
Knoxville (UTK) Business Administration
Comprehensive Study Guide & Practice Test
Ace your BUAD 331 Final Exam at the University of Tennessee, Knoxville (UTK) with this
complete 2025 study guide and practice test. Includes realistic exam questions, detailed
answer explanations, and business administration concepts covering marketing,
management, finance, and operations. Designed to help UTK students master core business
principles, case analyses, and quantitative reasoning for top exam performance.
BUAD 331 Final Exam 2025,
BUAD 331 UTK final exam,
University of Tennessee BUAD 331,
BUAD 331 business administration exam,
Procurement, conversion, and logistics are activities that must be done to fulfill a company's exchange
commitments.
a. True
b. False - ANSWER-a. True
In an end-to-end supply chain, the order cycle begins when __________.
a. a firm is notified of customer need
b. when a customer places an order
c. when a customer recognizes a need
d. when a customer acknowledges the need as being fulfilled
,2|Page
e. Either a or c - ANSWER-b. when a customer places an order
Stock-outs can result in which of the following?
a. Back orders
b. Lost sales
c. Lost customer
d. All of the above
e. None of the above - ANSWER-d. All of the above
A new company is interested in implementing lean order fulfillment to decrease costs. Which of the
following best describes the strategy the company should follow to take advantage of lean order
fulfillment?
a. Increase variability of demand by running frequent promotional campaigns and discounts for select
products.
b. Purchase off-season products in bulk to take advantage of manufacturers' discounts.
c. Increase complexity in the supply chain to ensure products are made to automobile manufacturers'
strict specifications.
d. Reduce order setup times and integrate across internal functions and externally with key suppliers to
reduce cycle times and variance.
e. Select suppliers based on lowest unit purchase price regardless of delivery reliability. - ANSWER-d.
Reduce order setup times and integrate across internal functions and externally with key suppliers to
reduce cycle times and variance.
The move to lean and then responsive value creation requires a paradigm shift from a _______ mentality
to a customer ________ mentality.
a. hybrid style, retention
b. product-focused push, demand-focused pull
c. demand-focused push, product-focused pull
d. product-order completion, time-saving - ANSWER-b. product-focused push, demand-focused pull
,3|Page
In high-end restaurants, steaks are generally cooked after the wait staff places the order to the kitchen
with the customers' preference. Which of the following techniques best describes the fulfillment of steak
orders to the final customer?
a. Anticipatory
b. Responsive
c. Postpone
d. Lean - ANSWER-b. Responsive
What negative outcomes can result from large lot-sized, long lead-time operations?
a. Customers don't want the items.
b. The items are in places and at times customers don't want them.
c. Unsold products are sold at reduced prices or scrapped altogether.
d. All of the above - ANSWER-d. All of the above
When ordering large quantities of products ___________ are high and ___________ are low.
a. setup costs; order costs
b. carrying costs; setup costs
c. carrying costs; facility costs
d. setup costs; carrying costs
e. facility costs; handling costs - ANSWER-b. carrying costs; setup costs
When graphed, the intersection of the order/setup cost curve and the carrying cost curve represents
the:
a. ROP
b. TQM
c. EOQ
d. CRM
e. FIFO - ANSWER-c. EOQ
Which of the following are flaws in the Sawtooth model?
, 4|Page
a. It assumes average delivery times do not vary.
b. It assumes average daily sales do not vary.
c. It does not consider the standard deviation of demand or lead time.
d. All of the above
e. a & b - ANSWER-d. All of the above
Lean supply chain value creation is ___________ while responsive supply chain value creation is
_______________.
a. customer-demand-focused; product-focused
b. product-focused; customer-demand-focused
c. a push mentality; a pull mentality
d. Both a & b
e. Both b & c - ANSWER-b. product-focused; customer-demand-focused
The order cycle begins with _______________ and ends when ________________.
a. order receipt/processing; the customer acknowledges their need as fulfilled
b. order shipment; the order is completed
c. customer need recognition; the customer acknowledges their need as fulfilled
d. order receipt/processing; the order is completed
e. customer need recognition; the order is completed - ANSWER-c. customer need recognition; the
customer acknowledges their need as fulfilled
Enterprise systems are primarily designed to address which of the following issues?
a. Business process standardization
b. Information fragmentation
c. Lack of control over personnel work tasks
d. None of the above are correct - ANSWER-b. Information fragmentation
Which ERP vendor entered the enterprise system market nearly 30 years after the first solution was
introduced?
