Supply And Logistics
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Avg score: 42% • Most missed: “Measure of how well the objective of meeting customer demand is met:”
Supply And Logistics
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25 Questions

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

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

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

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

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

6. 1) Stockout risk up 2) COGS up because of inability to purchase or produce in quantity 3) Purchasing - ordering & receiving time - effort and cost up

7. 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

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

9. 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

10. Consistent horizontal stream of demands

11. An event that occurs when no inventory is available

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

13. 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.

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

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

16. Proactive approach in which managers attempt to influence either the pattern or consistency of demand

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

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

19. An order for the exact amount needed

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

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

22. 1) Enhanced teamwork at executive & operating levels 2) Better decisions with less effort and time 3) Better alignment of operational - marketing and financial plans 4) Greater accountability for results 5) Ability to see potential problems sooner

23. 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

24. Maintenance - repair and operating supplies

25. Unit selling price - unit cost

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