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Exam 2: Supply Chain Management

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Question 21

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The average inventory at Hamilton Industries,comprising raw materials,work-in-process,and finished goods,was found to be $17.2 million last year.If the cost of goods sold per week averaged $1.32 million,what was the inventory turnover experienced by Hamilton Industries? Assume the company had 50 working weeks per year.

A) less than or equal to 3.50
B) greater than or equal to 3.50 but less than 3.75
C) greater than or equal to 3.75 but less than 4.00
D) greater than or equal to 4.00

E) A) and B)
F) B) and C)

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Question 22

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Which location movement would fall under forward placement?

A) from the wholesaler to the manufacture
B) from the retailer to the manufacturer
C) from the manufacturer to a distribution center
D) from the retailer to the wholesaler

E) A) and D)
F) All of the above

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Question 23

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Which of the following is an advantage of the postponement technique?

Manufacturing firms typically enter into contracts with Tier 2 suppliers with the expectation that these suppliers will then incorporate the guidelines of these contracts into the agreements they in turn enter into with Tier 1 suppliers.

A catalog hub is a central distribution point where buyers may purchase items directly from manufacturers before the items are shipped to retailers.

The order fulfillment process produces and delivers the service or product to the firm's customers.

What term do we use for a company arranging payments to suppliers and distributors to provide needed services and materials in order to perform those processes the organization does not perform itself?

The bull-whip effect is the general tendency toward increasing variation in demand and inventory levels as you move further away from the end customer in the supply chain.

In presourcing,suppliers are selected early in the concept development stage.

Some manufacturers and service providers want to measure the performance of supply chain by the percentage of on-time deliveries.The main reason for this measure is

A firm may choose to use members of the distribution channel as if they were assembly stations in the factory.Such an approach is known as

The objective of a firm in a responsive supply chain is likely to be realized if it has a

Centralized purchasing is more likely to be followed for commodity-based purchases than for specialized parts and services.

A cooperative orientation to supplier relations views negotiations between buyer and seller as a zero-sum game.

Make-to-stock firms tend to use the postponement tactic.

Of the following measures of supply chain performance,which is likely to have the most direct and measurable impact on a company's financial performance based on the reduction in the level of working capital required?

Which one of the following statements about the relation between financial and supply chain performance measures is TRUE?

Work-in-process inventory is considered an input to the transformation processes of the firm.

In presourcing,suppliers are selected early in the concept-development stage.

Inventory is a stock of material used to satisfy customer demand or support the production of goods and services.