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






3. Items bought from suppliers to use in the production of a product






4. Maintenance - repair and operating supplies






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






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






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






8. An estimate of the capacity needed at work centers






9. 1) Produce all units internally by hiring workers in high-demand monts and firing/laying off workers in low-demand months 2) Produce internally the quantity required to meet demand in the lowest-demand month and use overtime production to meet demand






10. items that are ready for sale to customers






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






12. 1) Sales volume up 2) Risk of obsolescence or having to make discounts down 3) Holding expenses down 4) Asset investment down 5) Asset productivity up






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






14. 1) Asset productivity issues: measured by inventory turnover and days of supply 2) Effectiveness in meeting demand requriements - a.k.a. service level






15. A combination of common sense inputs from frontline personnel and a computer simulation process






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






17. Forecasting technique that bases forecastis on the purchasing patterns and attitutdes of current or potential customers






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






19. The rule that a small percentage of items account for a large percentage of sales - profit - or importance to a company

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






21. 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






22. Production processes halted






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






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






25. Sum of all relevant inventory costs incurred each year






26. Ratio between average inventory and the level of sales: = COGS/Average inventory@cost = Net sales/Average inventory@sales price = Unit sales/Average inventory in units






27. Simple forecasting approach that assumes that recent history is a good predictor of the near future






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






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






30. 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






31. Comparison of production needs to actual capacity






32. 1) Improve information accuracy and timeliness 2) Reduce lead time 3) Redesign the product 4) Collaborate and share information






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






34. The individual time period for planning






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






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






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






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






40. The total amount of an end item that is required






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






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






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






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






45. The ranking of all items of inventory acording to importance






46. Order costs are associated with replenishing inventories - while setup costs are associated with producing inventory internally. Both are often considered "fixed" regardless of batch size - although this is not strictly true.






47. Regular demand patterns of repeating highs and lows






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






49. inventory classification - info systems - accurate records






50. Expenses incurred in placing receiving orders from suppliers - including order preparation - transmittal - receiving - and A/P processing