Test your basic knowledge |

Supply And Logistics

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. The number of days of business operations that can be supported with the inventory on hand = Current inventory/Expected daily demand






2. Comparison of production needs to actual capacity






3. The assumption that there is an infinite amount of capacity available






4. A product designed so that it can be configured to its final form quickly and inexpensively once actual customer demand is known






5. Process that adjusts prices as demand for a service occurs (or does not occur)






6. Order quantity that minimizes the sum of annual inventory carrying cost and annual ordering cost






7. 1) Improved forecast accuracy 2) Higher customer service with lower finished goods inventory levels due to better forecasts and coordination fo supply with demand 3) More stable supply rates -> Higher productivity for purchasing - suppliers and oper






8. Technique that seeks inputs from people who are in close contact with customers and products






9. Combination of the choice of which customer segment the firm will target with a specific value proposition and the supply chain capabilities used to deliver it






10. Systems that integrate materials and capacity planning into one system






11. Demand that is created by customers






12. Management systems used when the demand for an item is derived from the demand for some other item






13. inventory classification - info systems - accurate records






14. 1) Rapid technological change 2) Increasing importance of sustainability 3) Growing roles of national and corporate cultures






15. Vendor is responsible for managing the inventory located at a customer's facility






16. Regular demand patterns of repeating highs and lows






17. Management system built around checking and ordering inventory at some regular interval






18. 1) Short-term forecasts are usually more accurate than long-term forecasts 2) Forecasts of aggregated demand are usually more accurate than forecasts of demand at detailed levels 3) Forecasts developed using multiple information sources are usually






19. Forecasting technique that usees data and experience from similar products to foreast the demand for a new product






20. Decision process in which managers predict demand and make operational plans accordingly






21. Primary reports (schedules of the planned order releases that are used to trigger purchases and production of items on time) - and secondary reports (cost - inventory and schedule attainment information that helps judge how well the operation is pe






22. Correlation of current demand values with past demand values






23. 1) Extra resources expand and contract capacity to meet varying demand 2) Backlogging of certain orders to smooth out demand fluctuations 3) Customer dissatisfaction with inability to meet all demands 4) Buffering the system with safety stocks - saf






24. How much should be ordered and when?






25. Forecasting model model that assigns a different weight to each period's demand according to its importance






26. Times series models use only past demand values as indicators of future demand. Causal models use other independent - observed data to predict demand.






27. 1) Balancing supply and demand 2) Buffering uncertainty in supply/demand 3) Enabling economies of buying 4) Enabling geographic specialization






28. Difference between a forecast and the actual demand






29. Average size of forecast errors - irrespective of their directions.






30. 1) Extraction 2) Production 3) Packaging and Transport 4) Usage 5) Disposal/Recycling






31. Approach used to evaluate the costs generated by wastes produced throughout a product's life cycle






32. A method of estimating the impact of changing the number of lcoations on the quantity of inventory held






33. Small disturbance generated by a customer produces sucessively larger disturbances at each upstream stage in the supply chain






34. A method by which supply chain partners periodicaly hsare forecasts - demand palns - and resource plans in order to reduce uncertainty and risk in meeting customer demand






35. Cost incurred when inventory is not available to meet demand - cost of lost current and future sales






36. An illustration of the pattern of ordering and inventory levels






37. An estimation of the availability of the critical resources needed to support the MPS






38. Built upon estimates and opinions of people - e.g. experts. Attempt to incorporate factors of demand that are difficult to capture in a purely statistical model.






39. An estimate of the capacity needed at work centers






40. Lot size is the "batch size" of an order - e.g. you must order in increments of fifty - you should order the increment with the lowest TAC.






41. Forecasting models that compute forecasts using historical data arranged in the order of occurrence






42. A mathematical approach for fitting an equation to a set of data






43. An order for the exact amount needed






44. A moving average approach that applies exponentially decreasing weights to each demand that occurred farther back in time






45. 1) Opportunity cost - including cost of capital 2) Owning/maintaining storage space 3) Taxes 4) Insurance 5) Obsolescence and loss 6) Materials handling - tracking - management






46. Consistent horizontal stream of demands






47. Unique ID for a part used by a specific company






48. 1) Influence the timing or quantity of demand through pricing changes - promotions - or sales incentives 2) Manage the timing of order fulfillment 3) Substitute by encouraging customers to shift their orders from one product to another - or from o






49. Determination of replenishement and postioining of finished goods in the distribution network






50. Computing power will double every 18 months while computing cost will decrease by half

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183



Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests