Chapter 11 example #37510

30 June 2024
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57 test answers
question
The cost to produce the goods or services sold for a given period is referred to as
answer
cost of goods sold.
question
Which of the following statements is NOT​ true?
answer
An increased sales effort may help a firm reach its profit goals more easily than would effective cost cutting.
question
Inventory turnover is equal to
answer
cost of goods sold​ / inventory investment.
question
A fried chicken​ fast-food chain that acquired feed mills and poultry farms has performed which of the​ following?
answer
backward integration
question
Which of the following describes using one supplier for a component and a second supplier for another​ component, where each supplier acts as a backup for the​ other?
answer
cross-sourcing
question
Which of the following devices represents an opportunity for technology to improve security of container​ shipments?
answer
devices that measure radiation or temperature devices that can communicate the breaking of a container lock or seal devices that sense motion devices that identify truck and container location All of the above
question
Local optimization is a​ supply-chain complication best described​ as:
answer
optimizing​ one's local area without full knowledge of supply chain needs.
question
What is the practice of keeping a product generic as long as possible before​ customizing?
answer
postponement
question
In queuing​ problems, which of the following probability distributions is typically used to describe the time to perform the​ service?
answer
negative exponential
question
The common measures of a queuing​ system's performance​ include:
answer
. average time each customer spends in the​ system, probability that the service system will be​ idle, and average time each customer spends in the queue.
question
The shopper who says to​ himself, "I've waited too long in this line. I​ don't really need to buy this product​ today," and leaves the store is an illustration of which element of arrival​ behavior?
answer
renege
question
Which of the following industries has the highest supply chain cost as a percentage of​ sales?
answer
petroleum
question
A response strategy requires suppliers be selected based primarily on
answer
capacity, speed, and flexibility.
question
Which of the following statements is NOT one of the differentiation strategy​ decisions?
answer
Use buffer stocks to ensure speedy supply.
question
Prior to embarking on supply chain​ design, operations managers must first consider
answer
"make-or-buy" and outsourcing decisions.
question
What is transferring a​ firm's activities that have traditionally been internal to external​ suppliers?
answer
outsourcing
question
Which of the following statements is NOT one of the response strategy​ decisions?
answer
gather and communicate market research data
question
The advantage of having few suppliers is to
answer
form a​ long-term relationship.
question
The advantage of having many potential suppliers is their willingness to
answer
offer lower prices in the short term.
question
What is developing the ability to produce goods or services previously purchased or actually buying a supplier or a​ distributor?
answer
vertical integration
question
Which of the following strategies is part​ collaboration, part purchasing from few​ suppliers, and part vertical​ integration?
answer
keiretsu networks
question
Which of the following could reduce distribution​ risk?
answer
careful​ selection, monitoring and effective contracts with penalties
question
Which of the following mitigation tactics could reduce economic​ risk?
answer
purchasing contracts that address price fluctuations
question
Which of the following mitigation tactics is NOT designed to reduce the risk of information loss or​ distortion?
answer
alternate sourcing
question
Which of the following statements is true regarding​ cross-sourcing?
answer
Cross-sourcing uses one supplier for a component and a second supplier for another​ component, where each supplier acts as a backup for the other.
question
Which of the following statements is NOT true regarding the bullwhip​ effect?
answer
The bullwhip effect occurs as order are relayed from​ retails, to​ distributors, to​ wholesalers, to​ manufacturers, with fluctuations decreasing at each step in the sequence.
question
What is a​ long-term purchase commitment to a supplier for items that are to be delivered against​ short-term releases to​ ship?
answer
blanket order
question
A lawnmower assembly plant uses a variety of​ nuts, bolts,​ screws, and other fasteners in its operation. Its supplier delivers these items directly to the point of use on the assembly line and ensures that there are always sufficient quantities of fasteners to maintain the production schedule. This is an example of
answer
vendor-managed inventory.
question
The​ do-it-yourselfer plucked a gallon can of base paint from the shelf of the local hardware store and handed it to​ Keith, the cheerful clerk at the paint counter. Their eyes met briefly and the​ do-it-yourselfer silently handed over sample​ 150C-1, Musical​ Mist, to the clerk. It was impractical to keep several gallons of every possible color on the shelves at the hardware​ store, so the paint manufacturer had created clever workaround. The workaround was a​ computer-based system that added predetermined quantities of pigments to a gallon can of base paint depending on the desired​ shade, in this​ case, Musical Mist. The hardware store now needed to stock only the base​ paint, this​ machine, and a small supply of paint pigments in order to create the thousands of colors in its catalog. This scenario is a prime example of
answer
postponement.
question
Which of the following is the first stage of supplier​ selection?
answer
supplier evaluation
question
Which negotiation strategy bases price on a​ published, auction, or index​ price?
answer
market-based price model
question
With regard to the​ cost-based price model negotiation​ strategy, which of the following is​ true?
answer
Prices are based upon supplier costs.
question
Which of the following is NOT one of the benefits accrued from a centralized purchasing​ function?
answer
Increase the duplication of tasks.
question
Trucking
answer
is increasingly using computers to manage its operations.
question
Airfreight
answer
is the fastest growing mode of shipping
question
Supply chain managers outsource logistics to meet three​ goals:
answer
drive down inventory​ investment, lower delivery​ costs, and improve delivery reliability and speed.
question
Which of the following statements is NOT true regarding channel​ assembly?
answer
Channel assembly sends individual​ components, modules, and finished​ products, to the distributor.
question
Three criteria for designing distribution networks to meet customer expectations​ are:
answer
rapid​ response, product​ choice, and service.
question
Which of the following statements is NOT generally an implication stemming from an increase in the number of​ facilities?
answer
decreased total logistics cost
question
When determining the optimal number of​ facilities, logistics-related costs do NOT usually include which of the following​ costs?
answer
purchasing
question
Which of the following statements is NOT​ true?
answer
Finding the optimal number of facilities represents a critical and static decision.
question
Which of the following statements is NOT​ true?
answer
A​ closed-loop supply chain is a designed to optimize only reverse flows.
question
Which of the following is NOT true about reverse logistics as compared to foward​ logistics?
answer
speed is often very important
question
What is a supply chain designed to optimize both forward and reverse​ flows?
answer
closed-loop supply chain
question
Which organization has developed principles and standards to be used as guidelines for ethical​ behavior?
answer
Institute for Supply Management
question
Three common measures of supply chain performance​ are:
answer
percentage invested in​ inventory, inventory​ turnover, and weeks of supply.
question
a supply chain ends with
answer
a satisfied customer
question
which of the following best describes vertical integration
answer
produce goods or services previously purchased
question
what event in 2011 caused manufacturers in several industries worldwide to wait 6 months or longer to see their supply chains working normally again
answer
Japanese earthquake and tsunami
question
Which of the following is NOT a remedy for the bullwhip effect
answer
allocate orders based on forecasts
question
which of the following is TRUE regarding the bullwhip effect measure?
answer
variance amplification is present if the bullwhip measure is greater than one
question
which of the following statements is NOT true about the factor weighting techniques
answer
factors are scored using DIFFERENT scales -- meaning factors are scored using the same scale
question
Which of the following statements is NOT true?
answer
the factor weighting approach involve subjective judgement -- truth it does
question
faster shipping usually means
answer
a more expensive shipper and lower holding costs
question
which of the following statements is NOT true
answer
a less expensive shipper tends to result in slower shipments and lower holding costs -- HIGHER holding actually
question
efficiency in a warehouse is primarily improved by
answer
reducing worker travel time
question
given a set of items needing to be stored in a warehouse in which the number of daily trips and blocks of storage space needed are both known for all items, the item with which of the following should be placed furthest from the dock
answer
the lowest value of TRIPS / BlOCKS
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question
The cost to produce the goods or services sold for a given period is referred to as
answer
cost of goods sold.
question
Which of the following statements is NOT​ true?
answer
An increased sales effort may help a firm reach its profit goals more easily than would effective cost cutting.
question
Inventory turnover is equal to
answer
cost of goods sold​ / inventory investment.
question
A fried chicken​ fast-food chain that acquired feed mills and poultry farms has performed which of the​ following?
answer
backward integration
question
Which of the following describes using one supplier for a component and a second supplier for another​ component, where each supplier acts as a backup for the​ other?
answer
cross-sourcing
question
Which of the following devices represents an opportunity for technology to improve security of container​ shipments?
answer
devices that measure radiation or temperature devices that can communicate the breaking of a container lock or seal devices that sense motion devices that identify truck and container location All of the above
question
Local optimization is a​ supply-chain complication best described​ as:
answer
optimizing​ one's local area without full knowledge of supply chain needs.
question
What is the practice of keeping a product generic as long as possible before​ customizing?
answer
postponement
question
In queuing​ problems, which of the following probability distributions is typically used to describe the time to perform the​ service?
answer
negative exponential
question
The common measures of a queuing​ system's performance​ include:
answer
. average time each customer spends in the​ system, probability that the service system will be​ idle, and average time each customer spends in the queue.
question
The shopper who says to​ himself, "I've waited too long in this line. I​ don't really need to buy this product​ today," and leaves the store is an illustration of which element of arrival​ behavior?
answer
renege
question
Which of the following industries has the highest supply chain cost as a percentage of​ sales?
answer
petroleum
question
A response strategy requires suppliers be selected based primarily on
answer
capacity, speed, and flexibility.
question
Which of the following statements is NOT one of the differentiation strategy​ decisions?
answer
Use buffer stocks to ensure speedy supply.
question
Prior to embarking on supply chain​ design, operations managers must first consider
answer
"make-or-buy" and outsourcing decisions.
question
What is transferring a​ firm's activities that have traditionally been internal to external​ suppliers?
answer
outsourcing
question
Which of the following statements is NOT one of the response strategy​ decisions?
answer
gather and communicate market research data
question
The advantage of having few suppliers is to
answer
form a​ long-term relationship.
question
The advantage of having many potential suppliers is their willingness to
answer
offer lower prices in the short term.
question
What is developing the ability to produce goods or services previously purchased or actually buying a supplier or a​ distributor?
answer
vertical integration
question
Which of the following strategies is part​ collaboration, part purchasing from few​ suppliers, and part vertical​ integration?
answer
keiretsu networks
question
Which of the following could reduce distribution​ risk?
answer
careful​ selection, monitoring and effective contracts with penalties
question
Which of the following mitigation tactics could reduce economic​ risk?
answer
purchasing contracts that address price fluctuations
question
Which of the following mitigation tactics is NOT designed to reduce the risk of information loss or​ distortion?
answer
alternate sourcing
question
Which of the following statements is true regarding​ cross-sourcing?
answer
Cross-sourcing uses one supplier for a component and a second supplier for another​ component, where each supplier acts as a backup for the other.
question
Which of the following statements is NOT true regarding the bullwhip​ effect?
answer
The bullwhip effect occurs as order are relayed from​ retails, to​ distributors, to​ wholesalers, to​ manufacturers, with fluctuations decreasing at each step in the sequence.
question
What is a​ long-term purchase commitment to a supplier for items that are to be delivered against​ short-term releases to​ ship?
answer
blanket order
question
A lawnmower assembly plant uses a variety of​ nuts, bolts,​ screws, and other fasteners in its operation. Its supplier delivers these items directly to the point of use on the assembly line and ensures that there are always sufficient quantities of fasteners to maintain the production schedule. This is an example of
answer
vendor-managed inventory.
question
The​ do-it-yourselfer plucked a gallon can of base paint from the shelf of the local hardware store and handed it to​ Keith, the cheerful clerk at the paint counter. Their eyes met briefly and the​ do-it-yourselfer silently handed over sample​ 150C-1, Musical​ Mist, to the clerk. It was impractical to keep several gallons of every possible color on the shelves at the hardware​ store, so the paint manufacturer had created clever workaround. The workaround was a​ computer-based system that added predetermined quantities of pigments to a gallon can of base paint depending on the desired​ shade, in this​ case, Musical Mist. The hardware store now needed to stock only the base​ paint, this​ machine, and a small supply of paint pigments in order to create the thousands of colors in its catalog. This scenario is a prime example of
answer
postponement.
question
Which of the following is the first stage of supplier​ selection?
answer
supplier evaluation
question
Which negotiation strategy bases price on a​ published, auction, or index​ price?
answer
market-based price model
question
With regard to the​ cost-based price model negotiation​ strategy, which of the following is​ true?
answer
Prices are based upon supplier costs.
question
Which of the following is NOT one of the benefits accrued from a centralized purchasing​ function?
answer
Increase the duplication of tasks.
question
Trucking
answer
is increasingly using computers to manage its operations.
question
Airfreight
answer
is the fastest growing mode of shipping
question
Supply chain managers outsource logistics to meet three​ goals:
answer
drive down inventory​ investment, lower delivery​ costs, and improve delivery reliability and speed.
question
Which of the following statements is NOT true regarding channel​ assembly?
answer
Channel assembly sends individual​ components, modules, and finished​ products, to the distributor.
question
Three criteria for designing distribution networks to meet customer expectations​ are:
answer
rapid​ response, product​ choice, and service.
question
Which of the following statements is NOT generally an implication stemming from an increase in the number of​ facilities?
answer
decreased total logistics cost
question
When determining the optimal number of​ facilities, logistics-related costs do NOT usually include which of the following​ costs?
answer
purchasing
question
Which of the following statements is NOT​ true?
answer
Finding the optimal number of facilities represents a critical and static decision.
question
Which of the following statements is NOT​ true?
answer
A​ closed-loop supply chain is a designed to optimize only reverse flows.
question
Which of the following is NOT true about reverse logistics as compared to foward​ logistics?
answer
speed is often very important
question
What is a supply chain designed to optimize both forward and reverse​ flows?
answer
closed-loop supply chain
question
Which organization has developed principles and standards to be used as guidelines for ethical​ behavior?
answer
Institute for Supply Management
question
Three common measures of supply chain performance​ are:
answer
percentage invested in​ inventory, inventory​ turnover, and weeks of supply.
question
a supply chain ends with
answer
a satisfied customer
question
which of the following best describes vertical integration
answer
produce goods or services previously purchased
question
what event in 2011 caused manufacturers in several industries worldwide to wait 6 months or longer to see their supply chains working normally again
answer
Japanese earthquake and tsunami
question
Which of the following is NOT a remedy for the bullwhip effect
answer
allocate orders based on forecasts
question
which of the following is TRUE regarding the bullwhip effect measure?
answer
variance amplification is present if the bullwhip measure is greater than one
question
which of the following statements is NOT true about the factor weighting techniques
answer
factors are scored using DIFFERENT scales -- meaning factors are scored using the same scale
question
Which of the following statements is NOT true?
answer
the factor weighting approach involve subjective judgement -- truth it does
question
faster shipping usually means
answer
a more expensive shipper and lower holding costs
question
which of the following statements is NOT true
answer
a less expensive shipper tends to result in slower shipments and lower holding costs -- HIGHER holding actually
question
efficiency in a warehouse is primarily improved by
answer
reducing worker travel time
question
given a set of items needing to be stored in a warehouse in which the number of daily trips and blocks of storage space needed are both known for all items, the item with which of the following should be placed furthest from the dock
answer
the lowest value of TRIPS / BlOCKS