SCM 3

in ABC analysis which of the following are true

B and C items generally account for about 80% of the items in units and A items are given the highest priority and attention

the difference between a physical inventory and cycle count is

Cycle counts use a small subsets of inventory that are counted on given day

as a CFO you would like lower inventory turns at your company

False

the difference between TL and LTL is:

LTL is good for companies shipping less weight or volume that can't fill a truck

Which of the following is most likely to use RFID

a large warehouse that receives and ships thousands of different parts and your EZ pass for tolls on highways

Six sigma is described by which of the following statements

a statistics based process to make quality improvement

3PL's can provide which of the following services

act as a customs broker, negotiate and manage transportation services, and manage DC's and Warehouses

all of the following are elements of Just-In-Time (JIT) EXCEPT

additional workforce

if a company wants to make large improvements regarding its inventory turns is should

benchmark other companies in their industry, establish VMI with key suppliers, take ABC analysis seriously

a carrier who offers transportation services to all shippers at published rate is referred to as

common carrier

If my company had unique delivery and handling requirement for my product which would be the best type of carrier to use

contract carrier

a products' Direct Cost consist of

costs directly traceable to the product produced and the labor and material that is used to make the part or the final product

Kanban Cards used in a manufacturing line are meant to do what

create a "pull" system within the production line so parts are only produced when needed and show in a very visible way when parts are needed within the production line

when managing inventory EOQ is used to

determine how many parts to order

indirect costs can be traced directly to the unit produced

false

which is the most expensive category of inventory

finished goods

when dealing internationally freight terms are much more complicated. For that reason there are international terms known as

inco terms

if your company used seasonal weather patterns to forecasts, it is taking into account

independent demand

Six Sigma is a very process driven approach. In DMAIC, which of the following is not part of the process

inspect all parts

a producer has to ship some heavy product (100,000 pounds) from NJ to California. What would most likely be the lowest cost

inter modal

Dependent Demand includes all of the following EXCEPT:

movements in Gross Domestic Product (GDP)

I read a few articles in class about transporting product by rail car. What product were they shipping

oil

if you practice the Kaizen process of improvement which of the following describes your approach to solving problems

slow and steady wins the race

Why would a company want to use ABC analysis when managing their inventory

so they can focus their attention on the parts that have the highest inventory value

I showed 2 slides in class of a river with rocks in it. I was trying to explain:

that inventory can cover up (hide) problems

if a buyer and seller agree that the terms will be FOB origin then the following is true

the buyer owns the product when the seller delivers the product to the trucker

when we refer to "set up" costs in manufacturing we are talking about

the cost associated in making the necessary equipment changes to make a different model or different product on that equipment

reorder point (ROP) formulas are used in determining when to reorder the part. While there are multiple statistical reorder points formulas, what is the person using the formulas trying to accomplish?

the lowest inventory level at which the order must be placed to avoid a stock out

The article titled "Transforming Traditional Lean Principles" was a good example of

using lean principles to solve a service industry problem