UARK SCMT 2103 -EXAM 1
The objective of Walmart's early network design strategy was to: - Answers :Locate
stores close to a Distribution Center
Which of the following is a theme throughout the course? - Answers :How logistics and
supply chain management can be used to create a competitive advantage
The management of the flow and storage of inventory, such that total costs are
minimized and customer service targets are achieved is referred to as: - Answers
:Logistics
What are common elements of the total cost of ownership model: - Answers
:Transportation cost
Acquisition Cost
Operations cost
A leveling of production costs between China, Mexico, and the United States means
that U.S. firms will increasingly focus on _____________ to be competitive. - Answers
:Responsiveness
Flexibility
Agility
% time in stock - Answers :=Days in stock/ total days
perpetual inventory - Answers :=units received-units sold
IFR - Answers :% of demand fulfilled from on hand inventory
PTIS - Answers := # of days in stock/ total days
IFR - Answers := (# sold) / (# demanded)
One approach to estimating the cost of a stockout per unit of lost sale is to calculate an
estimate of the ____________. - Answers :Expected Value
the cost of a stockout per unit lost - Answers :% of people who buy nothing* margin per
unit
Retail shelf is very expensive because ___________: - Answers :the opportunity cost of
alternate products
The objective of Walmart's early network design strategy was to: - Answers :Locate
stores close to a Distribution Center
Which of the following is a theme throughout the course? - Answers :How logistics and
supply chain management can be used to create a competitive advantage
The management of the flow and storage of inventory, such that total costs are
minimized and customer service targets are achieved is referred to as: - Answers
:Logistics
What are common elements of the total cost of ownership model: - Answers
:Transportation cost
Acquisition Cost
Operations cost
A leveling of production costs between China, Mexico, and the United States means
that U.S. firms will increasingly focus on _____________ to be competitive. - Answers
:Responsiveness
Flexibility
Agility
% time in stock - Answers :=Days in stock/ total days
perpetual inventory - Answers :=units received-units sold
IFR - Answers :% of demand fulfilled from on hand inventory
PTIS - Answers := # of days in stock/ total days
IFR - Answers := (# sold) / (# demanded)
One approach to estimating the cost of a stockout per unit of lost sale is to calculate an
estimate of the ____________. - Answers :Expected Value
the cost of a stockout per unit lost - Answers :% of people who buy nothing* margin per
unit
Retail shelf is very expensive because ___________: - Answers :the opportunity cost of
alternate products
