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. inconsistencies in the plan causes by changes to the MPS






2. An order for an amount that covers a fixed period of time






3. 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






4. Replan each period (month or quarter) - for a given number of periods into the future






5. Demand that depends upon decisions made by internal operations managers






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






7. Model used to determine the order size for a one-time purchase






8. Specification of the amount of risk of incurring a stockout that a firm is willing to incur






9. A strategy that includes some elements of level production and some elements of chase production strategies






10. The longest lead-time path in the BOM






11. Forecasting techniques that use input from high-level experienced managers






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






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






14. Software that consolidates all of the business planning systems and data throughout an organization






15. Unit selling price - unit cost






16. 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






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






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


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






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






21. Minimum level of inventory that triggers the need to order more






22. The firm produces at a constant rate over the year






23. An order for the same amount each time






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






25. Regular demand patterns of repeating highs and lows






26. Administrative expenses and the expenses of rearranging a work center to produce an item






27. Forecasting model that computes a forecast ast he average of demands over a number of immediate past periods






28. The part of panned production that is not committed to a customer






29. File that contains detailed inventory and procurement records






30. The portion of average inventory determined as order quantity divided by two






31. Item ID system for finished goods sold to consumers (e.g. UPC. 12 or 14 digits)






32. Difference between a forecast and the actual demand






33. A parameter indicating the weight given to the most recent demand






34. The amount of an item that is planned to be ordered in a period






35. The individual time period for planning






36. Process to develop tactical plans by integrating customer-focused marketing plans for new and existing products with the operational management of the supply chain






37. Production rate is changed in each period to match the amount of expected demand






38. 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.






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






40. items in transit from ont location to another






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






42. The number of days of business operations that can be supported with the inventory on hand = Current inventory/Expected daily demand






43. An order for the exact amount needed






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






45. 1) Determine each item's annual useage/sales (in units and/or value) 2) Determine % of total useage/sales by each item 3) Rank items from highest to lowest percentage 4) Classify the items into ABC categories






46. 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






47. Production processes halted






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






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






50. An estimate of the capacity needed at work centers