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QuestionNumber:1Thebasicelementsofthesupplychaininclude:A）supply,manufacture,distribution.B)design,manufacture,inventory.C)engineer,design,manufacture.D)supply,engineer,manufacture.Thecorrectansweris:AEventhoughdifferentcompaniesproducedifferentproducts,thebasicelementsarethesame:supply,manufacture,anddistribution.QuestionNumber:2Inordertomaximizeprofit,acompanymusthaveallofthefollowingobjectivesexcept:A)BestcustomerserviceB)MostaccurateproductionforecastC)LowestinventoryinvestmentD)LowestdistributioncostThecorrectansweris:BAcompany,tomaximizeprofits,musthavethelowestproductioncost,bestcustomerservice,lowestinventoryinvestment,andlowestdistributioncosts.Whileanaccurateproductionforecastwillcontributetolowproductioncosts,itwillnotguaranteethelowestproductioncosts.QuestionNumber:3BASICSOFSUPPLYCHAINMGMT(BSCM):BusinesswideConceptsTheinventoryturnsratiomeasures:theamountofinventoryneededtoA)supportsalesgrowth.B)obsoleteinventoryasapercentofsales.C)howeffectivelyinventoryisbeingused.D)theamountofspaceneededtostoreinventory.Thecorrectansweris:CTheinventoryturnsratiomeasureshoweffectivelyinventoriesarebeingused.Itiscalculatedbydividingannualcostofgoodssoldbyaverageinventoryindollars.QuestionNumber:4Processspecificationscanbebestdefinedasadocumentwhich:A)showshowtheproductwillappear.B)showsthestepsneededtoproducetheenditem.C)detailsthecapacityavailableataworkcenter.D)flowchartsvariousprocesses.Thecorrectansweris:BProcessspecificationsdescribethestepsneededtomakeanendproduct.Theyareusuallyprintedonaroutingsheetorkeptinthedatabaseforonlineaccess.QuestionNumber:5BASICSOFSUPPLYCHAINMGMT(BSCM):BusinesswideConceptsAcompany'sstrategicplan:A)providesthemanufacturingplanforfamiliesofenditems.B)outlinesthesalesplanforthenextyear.C)isastatementofgoalsandobjectivesforalongrangeperiod.D)outlinesnewproductsforthenextyear.Thecorrectansweris:CWhilestrategicplansdoprovideformanufacturing,sales,andnewproductplans,theyreallyprovidetheoveralldirectionforthecompany.Theresultisastatementofgoalsandobjectivesfor2-5years,andsometimes10years.QuestionNumber:6Inwhichofthefollowingmanufacturingenvironmentswouldconsumerproducts,suchasfilm,food,etc.beclassified?A)Assemble-to-orderB)Engineer-to-orderC)Make-to-orderD)Make-to-stockThecorrectansweris:DConsumerproductsaregenerallyconsideredmake-to-stock.Thereareafewstandarditemsassembledfrommanycomponents.QuestionNumber:7Manydifferentenditemsaremadefromasmallnumberofcomponents.Whatmanufacturingenvironmentwouldthisbe?A)Make-to-stockB)Make-to-orderC)Assemble-to-orderD)Engineer-to-orderThecorrectansweris:BMake-to-ordercompaniestypicallymakemanyenditemsfromasmallnumberofcomponents.Thescheduleisdevelopedfromactualcustomerorders.QuestionNumber:8Thepurposeofastrategicbusinessplanisto:planproductionA)byproductfamily.B)planforbusinesschangeswhichtakealongtime.C)establishcustomerrequirementsoverthelongterm.D)establishorderpromisingstrategies.Thecorrectansweris:BStrategicplansareusedforlongtermplanning(2-10years).Theyareusedtoallowtimetoplanforchangeswhichtakealongtimetooccur.Thesemightincludenewplantsordistributioncenters.QuestionNumber:9BASICSOFSUPPLYCHAINMGMT(BSCM):BusinesswideConceptsAggregateinventorymanagementisconcernedwith:A)managinginventoryitemsandhowtheyareused.B)establishingtheproductionplan.C)thecostandbenefitsofcarryingthedifferentclassesofinventory.D)thedistributionnetworkandthemovementofinventory.Thecorrectansweris:CAggregateinventorymanagementisconcernedwiththecostandbenefitofcarryingrawmaterials,work-in-process,andfinishedgoodsinventory.Itisfinanciallyoriented.QuestionNumber:10Whichofthefollowingareobjectivesofinventory?I.MaximizecustomerserviceII.EfficienttransactionIII.LowcostplanoperationsIV.MinimuminventoryinvestmentA)I,II,andIIIB)I,III,andIVC)I,II,andIVD)II,III,andIVThecorrectansweris:BInordertomaximizeprofits,acompanymustmanageinventories,providegreatcustomerservice,andhaveefficientplantoperations,whileminimizingtheamountofcapitalusedforinventory.QuestionNumber:11Whichofthefollowingwouldbeincludedinthecostofcarryinginventory?HeatingandI.lightingawarehouseII.ObsoleteinventoryIII.LabortomovematerialIV.DamagedinventoryA)I,II,andIIIB)II,III,andIVC)I,III,andIVD)I,II,III,andIVThecorrectansweris:DAlloftheabovecostswouldbeincludedinthecostofinventory.Anycostsincurredastheresultofhavinginventoryshouldbeincluded.QuestionNumber:12Whichofthefollowingbestdescribesanormaldistribution?A)MostvaluesclusterednearacentralpointB)WarehousescentrallylocatedtomarketsC)ValuesaccumulatedatsixsigmaD)Acriticalratioof1.0Thecorrectansweris:ANormaldistributionreferstothestatisticaldistributionofvalueswherethemajorityofvalueswillaccumulatearoundthemean.Theresultinggraphisshapedlikeabell.Itisoftenknownasabellcurve.QuestionNumber:13Basedonthefollowinginformation,whatwouldthesafetystockneedtobetoensureproductisinstock99.9999%ofthetime?MAD=100,Onhand=200.Weeklydemand=400A)100B)300C)500D)600Thecorrectansweris:CToensurecoverageofproduct99.9999%ofthetime,itwouldrequire5MADforsafetystock.Therefore:5*100=500.QuestionNumber:14E