Quiz
SCMT Final
Create a free account to finish this quiz
Save your progress and see your final score.
Already have an account? Sign in
Questions in this quiz (18)
1The objective of Walmart's early network design strategy was to:
- APlace stores in "high potential" markets
- BLocate stores close to a Distribution Center
- CLocate stores close to Bentonville
- DUse supply chain savings to drive temporary price reductions
- EAll of the above
2Which of the following is a theme throughout the course?
- AHow logistics and supply chain management can be used to create a competitive advantage
- BLogistics is just another term for transportation
- CSupply chain management is the same thing as logistics, but just a new term
- DSupply chain management and logistics are not the same and are not even similar
3The management of the flow and storage of inventory, such that total costs are minimized and customer service targets are achieved is referred to as:
- ASupply Chain
- BTransportation
- CLogistics
- DNone of these
4Logistics is the management of the flow and storage of inventory such that total cost is minimized and _______ are achieved.
- ARevenue goals
- BShipment goals
- CCompetitive interactions
- DCustomer service targets
5Process redesign is concerned with improving performance but does so by changing ________.
- AOnly the contraptions on an activity
- BThe order of the activities
- COnly the way an activity is performed
- DOnly the metrics of an activity
6The term _____ today refers to a firm that supplies logistics and possibly other supply chain management services.
- AOutsourcing
- BSupply base rationalization
- CThird-party logistics (3PL) Providers
- DJust-in-time (JIT)
7Economies of scale is defined as a reduction in ______ when volumes are increased.
- AAverage market price per unit
- BAverage margin per unit
- CTotal cost
- DAverage cost per unit
8Which of the following benefits did Walmart achieve from their early network design strategy?
- AReduction in in-transit stock to the stores
- BReduction in transportation costs from the DCs to the stores
- CLower cost per store for the DCs to serve the stores
- DAll of these were benefits
- EReduction in safety stock at the stores
9Resilience in the 4 R’s of supply chain competition is defined as being able to ________
- AConsistently execute an activity or process at a target level of performance.
- BAddress problems consistently in the same way every time
- CDeal with unexpected disruptions in the supply chain
10Safety stock is _________
- AThe coefficient of variation of the number of units on hand just before a replenishment is received and available for use or sale
- BThe expected number of units on hand just before a replenishment is received and available for use or sale
- CThe standard deviation of the number of units on hand just before a replenishment is received and available
- DNone of these
11Which of the following products would you expect to require the most safety stock?
- AProduct A: Standard Deviation of Sales = 30, Standard Deviation of Lead Time = 30
- BProduct B: Standard Deviation of sales = 25, Standard Deviation of Lead Time = 15
- CProduct C: Standard Deviation of Sales = 20, Standard Deviation of Lead Time = 20
- DProduct D: Standard Deviation of Sales = 20. Standard Deviation of Lead Time = 25
12Which of the following are measures of reliability of a logistics process?
- AStandard Deviation
- BCoefficient of variation
- CMean
- DStandard Deviation & Coefficient of variation
- EMedian
13Relationship in the 4 R’s of supply chain competition is defined as being able to
- AChange logistics and supply chain management activities quickly
- BConsistently execute an activity or process at a target level of performance
- CManage the connections, the interactions, and communication, and maintain trust
- DDeliver products to customers that are demanding them
14A company operates 365 days a year. Annual inventory turns is 12. How many days of supply does that represent?
- A55
- B30
- C41
- D95
- E20
15Average inventory last year was $160,000 and turns were 7. What was cost of goods sold last year?
- A$112,000
- B$11,200,000
- CNone of these
- D$1,120,000
- E$22,857
16The inventory holding cost factor is 20% and the average inventory next year is expected to be $130,000. What is the expected inventory holding cost?
- ANot enough information to determine
- B$2,600,000
- C$6,500
- D$26,000
- E$650,000
17Which of the following formulae calculate annual inventory turns?
- ACost of goods sold * Value of inventory
- BUnits sold in a year / average number of units in inventory
- CUnits sold in a year / cost of goods sold
- DNone of these
18Justin’s plumbing supply operates 365 days a year. Annual inventory turns of faucets is 9. How many days of supply does that represent?
- A52
- B90
- C41
- D37
- E46
Information
- Description
- Quiz on SCMT Final, created by Logan Slater on 06/05/2018.
- Author
- Logan Slater
- Language
- English
- Views
- 2
- Rating
- No ratings yet Rate this quiz