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Microsoft Word REVIEW SCM docx 1 REVIEW SUPPLY CHAIN MANAGEMENT COURSE 1 Predictable variablity is a change in demand that can be forecast b change in demand that cannot be forecast c change in demand that has been planned d change in demand that has been scheduled 2 Which statement is most accurate with regard to seasonal demand? a Seasonal demand can be met by maintaining enough manufacturing capacity to meet demand in any period b Seasonal demand can be met by building up inventory during the.
REVIEW SUPPLY CHAIN MANAGEMENT COURSE Predictable variablity is c price promotions and inventory a change in demand that can be forecast d production capacity and inventory promotions b change in demand that cannot be forecast c change in demand that has been planned d change in demand that has been scheduled Which statement is most accurate with regard to seasonal demand? The capacity management approach where a firm builds facilities to produce a relatively stable output of products over time in a very efficient manner, and facilities to produce a widely varying volume and variety of products, but at a higher unit cost, is a time flexibility from workforce a Seasonal demand can be met by maintaining enough manufacturing capacity to meet demand in any period b the use of seasonal workforce b Seasonal demand can be met by building up inventory during the off season to meet demand during peak seasons d the use of dual facilities – specialized and flexible c Seasonal demand can be met by offering a price promotion during periods of low demand to shift some of the demand into a slow period d All of the above statements A firm can vary supply of product by controlling a demand c the use of subcontracting Which of the following is an approach that firms can use when managing inventory to meet predictable demand variability? a time flexibility from workforce b use of seasonal workforce c using common components across multiple products d use of subcontracting b pricing Supply chain can influence demand by using c inventory a production capacity and inventory d revenue b pricing and other promotions A firm can vary supply of product by controlling c price promotions and inventory a production capacity and inventory b production promotions capacity and price d production capacity and inventory promotions Pricing decisions based only on revenue considerations often result in a a decrease in overall profitability b an increase in overall profitability c a decrease in overall revenue d a decrease in supply chain revenue Customers substituting the firm’s product for a competitor’s product is known as d decreases if a promotion is run during the off-peak period 13 Which factor favors promotion during low-demand periods? a high margin b high ability to steal market share c low margin a market growth d high ability to increase overall market b stealing share 14 Coordinating the management of both supply and demand across the supply chain c forward selling d forward buying 10 Customers moving up future purchases to the present is a market growth b stealing share c forward selling d forward buying a should be avoided at all costs b leads to increased costs all round c requires large amounts of human capital d enables predictable variablity to be handled in a way that maximizes profits 11 Offering a promotion during a peak period that has significant forward buying 15 Which of the following is needed when coordination between groups requires them to act against their traditional operating methods a creates a desirable demand pattern a good supplier relations b creates a demand pattern less costly to serve b round table meetings c creates a demand pattern even more costly to serve d everyone having the same goals c high level support d shifts demand from the peak period to the slow period 16 In general, traditional brick and mortar retail sales outperform online sales along the dimension of 12 Average inventory a product variety a increases if a promotion is run during the peak period b request fulfillment b increases if a promotion is run during the off-peak period d order status tracking c time to market for a new product c decreases if a promotion is run during the peak period 17 In order to reap the greatest return from the online channel for physical goods, firms should bypassing the retailer (who takes the order and initiates the delivery request)? a maximize the return for each distinct supply chain member a Manufacturer storage with direct shipping b minimize interations between the buyer and the other supply chain members b Manufacturer storage with direct shipping and in-transit merge c integrate it with their existing supply chain networks c Distributor storage with package carrier delivery d ensure that they have total ownershop of the supply chain d Distributor storage with last mile delivery 18 Where does distribution occur in the supply chain? 22 Which of the following is an advantage of manufacturer storage with direct shipping? a Between production and the retailer b Everywhere production downstream from c Between every pair of stages d Between suppliers and retailers 19 Which of the following would NOT be the result of a poor/inappropriate distribution network? a High profitability b Unsatisfactory customer experience c Increased cost d Poor profitablity 20 The ability of the customer to track their order from placement to delivery is a customer experience b order visibility c product availability d response time 21 In which distribution network design is product shipped directly from the manufacturer to the end customer, a Transportation costs are low because the average outbound distance to the end consumer is small and package carriers are used to shipping the product b Supply chains save on the fixed cost of facilities, because the need for other warehousing space in the supply chain has been eliminated c Response times tend to be small because the order has to be transmitted from the retailer to the manufacturer d Order tracking is easy to implement because of the complete integration of information systems at both the retailer and the manufacturer 23 The main advantage of in-trasit merge over drop-shipping is a the ability to reduce cost of inventory by centralizing inventories at the manufacturer b supply chains save on the fixed cost of facilities, because the need for other warehousing space in the supply chain has be eliminated c somewhat lower transportation cost and improved customer experience a Response time d order tracking is easy to implement because of the complete integration of information systems at both the retailer and the manufacturer c Customer experience 24 Which of the following is a disadvantage of distributor storage with last mile delivery? a Transportation cost is higher than any other distribution option b Informtion cost is similar to distributor storage with package carrier delivery c Customer experience is very good, particularly for bulky items d Returnability is easier to implement than other options 25 Distributors add value to a supply chain between a supply stage and a customer stage b Product variety d Time to market 27 Which of these statements about channel activity is most accurate? a Product is usually exchanged via the same channel as funds b The three flows usually occur in three different channels during the same transaction c Information is usually exchanged via the same channel as product d Funds are usually exchanged via the same channel as information 28 Online sales increase when compared to the performance of traditional brick and mortar retail stores a if there is a small number of customers requiring a large amount of product a outbound transportation costs b if there is a large number of customers requiring a large amount of product c the cost of builiding and maintaining facilities in a supply chain network c if there are many small players at the customer stage, each requiring a small amount of the product at a time d overall supply chain costs d if there are a few large players at the customer stage, each requiring a large amount of the product at a time 26 _is a service factor performance characteristic of manufacturer or distributor storage with customer pickup that is lower than other options because of the lack of home delivery Experience is very sensitive to capability of pickup location b the inventory holding cost 29 An online grocery store has a distinct advantage over a traditional model in the area of a processing costs b transportation costs c facility costs d information costs 30 Which of these statements about distribution networks is most accurate? a A manufacturer that owns their own distribution network cannot control the network’s actions 34 The is the party that moves or transports the product b Customers are willing to have a relationship built around high value, specialized products b producer c Distribution networks that have identical physical flows but different ownership structures have identical performance d consumer d It is important to have static distribution networks a Air 31 Serving a low density of customers at a long distance is best done using c Rail a shipper c carrier 35 carriers offer a very fast and fairly expensive mode of transportation for cargo b Truck a a less than truckload (LTL) carrier d Water b a cross-dock distribution center with milk runs 36 Which mode of transportation is the most expensive? c a package carrier a Rail d a private fleet with milk runs b Truck 32 The key players in any transportation that takes place within a supply chain are c Air d Water b the shipper and the supplier 37 Which mode of transportation is the dominant form of domestic freight transportation? c the shipper and the manufacturer a Air d the shipper and the carrier b Truck 33 Which of the following uses transportation to minimize the total cost (transportation, inventory, information, and facility) while providing and appropriate level of responsiveness to the customer? c Rail a The shipper b Truck b The supplier c Rail c The manufacturer d Water a the shipper and the reeiver d Water 38 Which mode of transportation is the least expensive? a Air d The carrier 39 When infrastructure is publicly owned, it is important to price usage to reflect a the cost of rebuilding the infrastructure once it is fully depreciated b the incremental profit from the use of the infrastructure d a private fleet with milk runs 43 The competnet supply chain manager decided to aggregate all inventories and, as required, use fast mode of transportant for filling customer orders of his a high-value and high-demand product c the marginal impact on the cost of society b high-value and low-demand product d the market clearing price d low-value and low-demand product 40 Which transportation network design option has the elimination of intermediate warehouses and its simplicity of operation and coordination as its major advantage? 44 Managers should ensure that a firm’s transportation strategy a Direct shipping network c supports its competitive strategy b Direct shipping with milk runs d is separate from competitive strategy c All shipping via central distribution center (DC) 45 The total amount paid to various carriers for moving products to customers is d Shipping via distribution center (DC) using milk runs c low-value and high-demand product a involves cost minimization b involves profit maximization a transportation cost 41 Temporal aggregation b inventory cost a is the process of combining orders across multiple locations c facility cost b increases a firm’s responsiveness d processing cost c decreases transportation costs because of economies of scale 46 The entire set of business processes required to purchase goods and services is d is purely a theoretical concept: no practical business examples of this exist a procurement 42 Serving a high density of customers at a long distance is best done using c supplier scoring and assessment b sourcing a a less than truckload carrier d supplier selection b a cross-dock distribution center with milk runs 47 Effective sourcing processes within a firm can c a package carrier a improve profits for the firms and total supply chain surplus b reduce profits for the firm and total supply chain surplus c reduce total supply chain surplus d reduce profits for the firm 48 The selection of suppliers, design of supplier contracts, product design collaboration, procurement of material, and evaluation of supplier performance are a part of a procurement b sourcing c supplier scoring and assessment d supplier selection 49 The role of sourcing, planning, and analysis is a to analyze spending across various suppliers and component categories to identify opportunities for decreasing the total cost b to analyze spending across various suppliers and component categories to identify opportunities for increasing the total cost c to enable orders to be placed and delivered on schedule at the lowest possible overall cost d to enable orders to be placed and delivered on schedule regardless of cost 50 The procurement process for direct materials should primarily focus on a improving coordination and visibility with the supplier b decreasing the transaction cost for each order c consolidation of orders to take advantage of economies of scale and quantity discounts d minimizing communication with the supplier 51 The procurement process for indirect materials should primarily focus on a improving coordination and visibility with the supplier b decreasing the transaction cost for each order c consolidation of orders to take advantage of economies of scale and quantity discounts d minimizing communication with the supplier 52 Sales efforts and orders peak near the end of any month, quarter, or other evaluation period This is commonly referred to as a the hockey stick phenomenon b the student syndrome c Murphy’s Law d the Centra; Limit Theorem 53 Understanding the impact of incentives on the actions of a supply chain partner is especially important when a there are two or more members in the supply chain b the third part’s actions are not fully observable c more than two firms are competing for the same poll of customers d the supply chain uses outsourcing 54 A contract that allows a retailer to return unsold inventory up to a specified amount, at an agreed-upon price, is a a buyback or returns contract b revenue-sharing contract c quantity flexibility contract d quantity discount contract 58 Which of the following is a traditional logistics driver of sourcing? a Pricing b Inventory c Sourcing d Information 59 Sourcing a product overseas may have 55 A contract where the buyer pays a minimal amount for each unit purchased from the supplier, but shares a fraction of the revenue for each unit sold is a a higher product cost and will generally incur a higher inbound transportation cost a buyback or returns contract c lower product cost and will generally incur a lower inbound transportation cost b revenue-sharing contract b higher product cost but will generally incur a lower inbound transportation cost d quantity discount contract d lower product cost but will generally incur a higher inbound transportation cost 56 Which of the following is a traditional logistics driver of sourcing? 60 Revenue-sharing contracts usually result in a Pricing b Inventory a the supply chain producing to consumer demand c Sourcing b higher cost of returns d Information c lower retailer profit 57 When designing a sourcing strategy, it is important for a firm to d lower retailer effort c quantity flexibility contract a develop a process that will procure materials at the lowest possible cost b maintain a record of all contracts, receipts, issues, and other transactions in the event of lawsuits c maximize the profitablity of the distributor within the supply chain d be clear on the factors that have the greatest influence on performance and target improvement on those areas 61 Cycle inventory exists because producing or purchasing in large lots allows a stage of the supply chain to a exploit economies of scale and raise cost b exploit economies of scale and lower cost c exploit customers and raise cost 62 The price paid per unit is referred to as a the material cost and is denoted by C b the fixed ordering cost and is denoted by S c the holding cost and is denoted by H 67 The practice where a firm charges differential prices to maximize profits is d the purchase price and is denoted by P a lot pricing 63 The cost of carrying one unit in inventory for a specified period of time, usually one year, is referred to as b marginal pricing a the material cost and is denoted by C 68 Replenishment orders in multiechelon supply chains should be b the fixed ordering cost and is denoted by S c the holding cost and is denoted by H d the purchase price and is denoted by P 64 Inventory holding costs would include which of the following? a Obsolescence cost b Buyer time c Transportation cost d Receiving cost 65 A key to reducing cycle inventory is a the reduction of holding cost b the reduction of manufacturing cost c the reduction of lot size d the reduction of warehouse space c price incrimination d price discrimination a synchronized to increase inventory and order costs cycle b synchronized to facilitate supplier evaluation and selection c synchronized to keep cycle inventory and order costs low d separated to increase cycle inventory and order costs 69 Manufacturers use trade promotions to offer a discounted price to retailers and a try to get greater discounts from retailers b guarantee to buy back any stock that is left 66 Quantity discounts lead to c try to meet the expected upturn in demand a a significant buildup of cycle inventory in the supply chain d set a time period over which the discount is effective b a slight buildup of cycle inventory in the supply chain 70 The key goals (from the manufacturer’s perspective) of a trade promition are c a decrease in cycle inventory in the supply chain d minor fluctuations of cycle inventory in the supply chain a to induce retailers to use price discounts b to show the competition you are winning suppliers c to select a new marketing plan d to show retailers your product range 71 A forward buy helps reduce the retailer’s future shifting it from peak to low-demand periods c it decreases their own total cost a storage needs d the first and third options above b cost of goods for product sold after the promotion ends 76 Which factor has proven LEAST successful in encouraging sustainability? c delivery and purchase intentions d reliance on a supplier 72 A key to reducing lot size is the a good relations with the suppliers b ability to reduce the number of orders c need to find new suppliers d reduction of the fixed cost incurred per lot 73 Other ways to achieve aggregation include a having a single delivery coming from multiple suppliers b having multiple deliveries into one warehouse a Increased revenue for sustainability initiatives b Customer demand c Attracting sustainability customer who value d Reducing risk and improving the financial performance of the supply chain 77 Almost 40% of could be achieved at negative marginal costs, meaning that investing in these options would generate postive economic returns over their life cycle a greenhouse gas abatement b fuel consumption initiatives c using the company’s own transport c increased customer base d requiring all suppliers to communicate d improved company reputation 74 When considering fixed costs, one cannot ignore the 78 Which of these statements is most accurate? a internal administration costs a Benefits and costs of sustainability programs fall equally across all supply chain members throughout most initiatives b human resource cost c company strategy d receiving or loading costs 75 The retailer can justify forward buying when a they have inadvertenly built up a lot of excess inventory b the forward buy allows the manufacturer to smooth demand by b Customers tend to be vocal about sustainability and back up those words with their puschaase decisions c It is more diffult to maintain a focus on sustainability for a supply chain than for an individual firm 10 d Sustainability programs typically offer a clear and substantive return on investment (ROI) figure throghout their development and deployment 79 In the short to medium term, an improved focus on sustainability provides benefits that a are shared but costs that may be local to a firm b are local to firms but a cost that is global c are shared and costs that are global d are local and costs that are global 80 _ is a mechanism that constrains the aggregate emissions by creating a limited number of tradable emission allowances, which emission sources must be secure and surrender in proportion to their emissions c absolute d statistical 83 In the context of greenhous gas emission, direct emissions a are controlled by the reporting entity b are created through waste disposal c come from utility-based services d come frome employee business travel 84 The disadvantage of using a(n) measure is that a drop in supply chain sales and production (for example in a downturn) will show an improved absolute measure of energy comsumption even though the company may not have changed anything a scope b relative a Command-and-control c absolute b Cap-and-trade d statistical c Cap-and-control d Emissions tax 85 Which is an example of balancing peak-load demand? 81 Corporate social responsibility (CSR)reports typically contain this/these metrics: a Car dealers offer rebates in July and August, just before the next year’s models are shipped to their lots a Revenue b An assisstant dean signs all of the course substitution requests on Friday afternoon b Social and historical c Environmental and staffing d Social and environmental 82 A(n) measure of performance is more effective at capturing sustainability improvement a scope c Aire conditioners and freezers are turned on across a chain of convenience stores at staggered intervals d The insurance agent sends in all claim forms on the last working day of the monthe b relative 11 86 What type of inventory is one of the most damaging from a sustainability perspective? c the fear exists that remanufactured products will be purchased instead of newly-produced products a Raw materials d two distinct segments of demand exist for the product: one for new and one for old products b Work in process c Finished goods d Landfill 87 The goal of every supply chain should be to track its a water consumption b transportation utilization c landfill inventory d invoices 88 Remanufacturing helps improve profits as long as a the comparatively low margin of remanufactured to newly-produced products exists b the comparatively high cost of remanufacturing to newly-produced products exists 89 tend to be significant consumers of energy and water and emitters of waste and greenhouse gases, and thus offer significant opportunities for profitatble improvement a Employees b Shareholders c Facilities d Vehicles 90 Arguably, the most significant waste in any supply chain occurs when a the doors to the buildings are open repeatedly b a product is thrown into a landfill c products sit on store shelves waiting to be purchased d employees are terminated Exercises Chapter [1,2,3,4,5,6,7,8] – page 234 - Chopra, S and Meindl P (2016) Supply Chain Management, Strategy, Planning, and Operation, 6th edition, Pearson Exercises Chapter 11 – [1,2,4,10,13,14,16] - Chopra, S and Meindl P (2016) Supply Chain Management, Strategy, Planning, and Operation, 6th edition, Pearson 12