UARK SCMT 2103 FINAL EXAM
QUESTIONS WITH CORRECT
ANSWERS
safety stock is _______ - Correct Answers -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 than just the acquisition cost that
should be accounted for in a purchase - Correct Answers -total cost of ownership
the _______ component of customer service includes such factors as availability of
spare parts, technical support, feedback and compliant processes, etc - Correct
Answers -post-transaction
________ is when a retailer thinks there is more inventory than there actually is -
Correct Answers -phantom inventory
________ tells you the percentage of demand fulfilled from on hand inventory - Correct
Answers -the percentage item fill rate (IFR)
ROA is profit divided by _____ - Correct Answers -assets
one of the direct effects of an increase in transportation cost is to reduce _______ -
Correct Answers -ROA
Inventory turns is ________ divided by ________ - Correct Answers -sale or COGS;
inventory
logistics lead time is the time __________ - Correct Answers -from when an order is
placed until it's actually received and really for use or sale
which component of demand represents the degree to which the data is increasing or
decreasing over time? - Correct Answers -trend
Noise is random variation in demand that __________ - Correct Answers -cannot be
explained
Time series methods are quantitative methods based on assumption that ______
demand is reflected in _____ demand patterns - Correct Answers -future; past
,casual models might best be used for _____ forecasting while time series model are
mostly used for _____ forecasting - Correct Answers -long term; short term
as the number of periods included in a moving average forecast model ____, the
forecast becomes ____ responsive - Correct Answers -decreases; more
when faced with a stock-out, which behavior is least likely? - Correct Answers -do not
purchase item
a ___________ is a set of 3 or more organizations directly inked. by one or more of the
upstream and downstream flows of products services, finances, and information from a
source to a customer - Correct Answers -supply chain
a strategic alliance relationship is characterized as having: - Correct Answers -heavy
resource commitments and high switching costs
a supply chain manager working for apple is weighing some trade-offs of a new product
to be introduced. A marketing manager is proposing the new product be made available
in 40 different colors with a 20 different features that can be part of the final product.
The puppy chain manager knows that all these different choices will add complexity and
cost to the product. To make a decision on the colors and features, the supply chain
manager must evaluate which type of supply trade-off? - Correct Answers -product
variety-inventory
an arm's length relationship is characterized as having - Correct Answers -little or no
collaboration and low switching costs
As a firm increases spending for transportation services, the cost of lose sales should -
Correct Answers -decrease
which is a key outcome of a lean strategy - Correct Answers -reduced waste
which supply chain strategy is needed in less predictable environments - Correct
Answers -agile
full collaboration is the dynamic combination of - Correct Answers -buyers, sellers,
retailers, 3PLs, and appropriate government agencies
gross margin equals - Correct Answers -sales-COGS
based on the following numbers, please calculate walmarts cash to cash cycle for the
fiscal year ended in January 2018. Days payables = 45.06, days Inventory = 42.44,
Days Receivables = 4.1 - Correct Answers -1.48 days
which type of flexibility refers to the ability to manage transitions in production and deli
very across heterogeneous products - Correct Answers -variety flexibility
, if General Mills is forced to increase their order cycles from 7 days to 14 days what
should be the impact on overall inventory levels? - Correct Answers -inventory levels
will increase
lean ______ provides the full value the consumers desire for their goods and services
with the greatest efficiency and least pain - Correct Answers -consumption
logistics creates which utility through productions forecasting, production scheduling
and inventory control - Correct Answers -quantity utility
what is often the largest component of logistics costs? - Correct Answers -transportation
costs
which company was an early pioneer in customization flexibility of personal computers -
Correct Answers -Dell
when logistics costs increases, profit will - Correct Answers -decrease
which of the following is NOT one of the flows of supply chain management? - Correct
Answers -transportation
which the following is the 7 R's definition of logistics - Correct Answers -getting the right
product to the right customer in the right quantity, in the right condition, at the right
place, at the right time, and the right cost
a candy bar has a retail price of $1.25. The COGS for the candy bar is $0.65. What is
the margin percentage for the candy bar - Correct Answers -48.00%
ABC company is looking for develop a successful supply chain relationship with another
organization. When looking to develop this relationship, ABC company should start by: -
Correct Answers -perform a strategic assessment of their organizational objectives and
needs
based on the cash to cash cycle reading, which industry (an average) has the fastest
cash to cash cycle - Correct Answers -High-tech and electronics
the emergence of omnichannel retailing makes the need for which type of flexibility
particularly important - Correct Answers -variety
what is the most commonly used DC metric - Correct Answers -on-time shipments
If a company uses the Panama Canal instead of sailing around South America, which
type of logistics utility are the focusing on? - Correct Answers -Time
QUESTIONS WITH CORRECT
ANSWERS
safety stock is _______ - Correct Answers -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 than just the acquisition cost that
should be accounted for in a purchase - Correct Answers -total cost of ownership
the _______ component of customer service includes such factors as availability of
spare parts, technical support, feedback and compliant processes, etc - Correct
Answers -post-transaction
________ is when a retailer thinks there is more inventory than there actually is -
Correct Answers -phantom inventory
________ tells you the percentage of demand fulfilled from on hand inventory - Correct
Answers -the percentage item fill rate (IFR)
ROA is profit divided by _____ - Correct Answers -assets
one of the direct effects of an increase in transportation cost is to reduce _______ -
Correct Answers -ROA
Inventory turns is ________ divided by ________ - Correct Answers -sale or COGS;
inventory
logistics lead time is the time __________ - Correct Answers -from when an order is
placed until it's actually received and really for use or sale
which component of demand represents the degree to which the data is increasing or
decreasing over time? - Correct Answers -trend
Noise is random variation in demand that __________ - Correct Answers -cannot be
explained
Time series methods are quantitative methods based on assumption that ______
demand is reflected in _____ demand patterns - Correct Answers -future; past
,casual models might best be used for _____ forecasting while time series model are
mostly used for _____ forecasting - Correct Answers -long term; short term
as the number of periods included in a moving average forecast model ____, the
forecast becomes ____ responsive - Correct Answers -decreases; more
when faced with a stock-out, which behavior is least likely? - Correct Answers -do not
purchase item
a ___________ is a set of 3 or more organizations directly inked. by one or more of the
upstream and downstream flows of products services, finances, and information from a
source to a customer - Correct Answers -supply chain
a strategic alliance relationship is characterized as having: - Correct Answers -heavy
resource commitments and high switching costs
a supply chain manager working for apple is weighing some trade-offs of a new product
to be introduced. A marketing manager is proposing the new product be made available
in 40 different colors with a 20 different features that can be part of the final product.
The puppy chain manager knows that all these different choices will add complexity and
cost to the product. To make a decision on the colors and features, the supply chain
manager must evaluate which type of supply trade-off? - Correct Answers -product
variety-inventory
an arm's length relationship is characterized as having - Correct Answers -little or no
collaboration and low switching costs
As a firm increases spending for transportation services, the cost of lose sales should -
Correct Answers -decrease
which is a key outcome of a lean strategy - Correct Answers -reduced waste
which supply chain strategy is needed in less predictable environments - Correct
Answers -agile
full collaboration is the dynamic combination of - Correct Answers -buyers, sellers,
retailers, 3PLs, and appropriate government agencies
gross margin equals - Correct Answers -sales-COGS
based on the following numbers, please calculate walmarts cash to cash cycle for the
fiscal year ended in January 2018. Days payables = 45.06, days Inventory = 42.44,
Days Receivables = 4.1 - Correct Answers -1.48 days
which type of flexibility refers to the ability to manage transitions in production and deli
very across heterogeneous products - Correct Answers -variety flexibility
, if General Mills is forced to increase their order cycles from 7 days to 14 days what
should be the impact on overall inventory levels? - Correct Answers -inventory levels
will increase
lean ______ provides the full value the consumers desire for their goods and services
with the greatest efficiency and least pain - Correct Answers -consumption
logistics creates which utility through productions forecasting, production scheduling
and inventory control - Correct Answers -quantity utility
what is often the largest component of logistics costs? - Correct Answers -transportation
costs
which company was an early pioneer in customization flexibility of personal computers -
Correct Answers -Dell
when logistics costs increases, profit will - Correct Answers -decrease
which of the following is NOT one of the flows of supply chain management? - Correct
Answers -transportation
which the following is the 7 R's definition of logistics - Correct Answers -getting the right
product to the right customer in the right quantity, in the right condition, at the right
place, at the right time, and the right cost
a candy bar has a retail price of $1.25. The COGS for the candy bar is $0.65. What is
the margin percentage for the candy bar - Correct Answers -48.00%
ABC company is looking for develop a successful supply chain relationship with another
organization. When looking to develop this relationship, ABC company should start by: -
Correct Answers -perform a strategic assessment of their organizational objectives and
needs
based on the cash to cash cycle reading, which industry (an average) has the fastest
cash to cash cycle - Correct Answers -High-tech and electronics
the emergence of omnichannel retailing makes the need for which type of flexibility
particularly important - Correct Answers -variety
what is the most commonly used DC metric - Correct Answers -on-time shipments
If a company uses the Panama Canal instead of sailing around South America, which
type of logistics utility are the focusing on? - Correct Answers -Time
