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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. Tool created by AT&T for assessing life cycle costs






2. inventory of an item is stored in two different locations






3. The amount of demand that occurs while awaiting receipt of an inventory replenishment order






4. Cycle stocks - safety stocks - managing locations - implementing inventory models






5. The amount that is planned to arrive at the beginning of a period






6. Sophisticated mathematical programs that offer forecasters the ability to evaluate different business scenarios that might yield different demand outcomes






7. Consistent horizontal stream of demands






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






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






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






11. 1) Identify the price breaks on offer 2) Calculate the EOQ at each price break - starting with the lowest 3) Evaluate the feasibility of each EOQ value 4) Calculate the TAC for each feasible EOQ and for the minimum quantity required to attain each p






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






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






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






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






16. inventory classification - info systems - accurate records






17. 1) item number 2) item description 3) Lead time to order and receive the item from a supplier or to produce it internally 4) Preferred order quantity (lot size) 5) Safety stock quantity 6) Other info (cost/process descriptions) 7) Quantity on hand 8)






18. The determination of how many additional units are needed






19. Expenses incurred due to the fact that inventory is held






20. Sum of all relevant inventory costs incurred each year






21. Specifies the production rates - inventory - employment levels - backlogs - possible subcontracting - and other resources needed to meet the sales plan






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






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






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






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






26. Measurement of how closely the forecast aligns with the observations over time






27. 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






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






29. 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






30. Measure of how well the objective of meeting customer demand is met: usually in terms of # or % of inventory items for which there is no inventory on hand






31. The tendency of a forecasting technique to continually overpredict or underpredict demand.






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






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






34. 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






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






36. The general sloping tendency of demand - wither upward or downward - in a linear or nonlinear fashion






37. 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.






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






39. An estimate of the capacity needed at work centers






40. An order for the same amount each time






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






42. A planning system used to ensure the right quantities of materials are available when needed






43. 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






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






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






46. Production processes halted






47. The sum of the inventory held across all of the locations in a company






48. The entire time period covered by the MPS






49. The individual time period for planning






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







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