MGMT461 Exam 2
Select all the apply: Key performance indicators used for inbound and outbound transportation activities include______
-Damages -Labor productivity -On-time pick up and delivery
Select all that apply: Shippers outsource transportation for which of the following reasons?
-To minimize risk -To enhance revenue -Transportation is not a core competency
Select all that apply: A main purpose of measuring forecast error is to ____
-direct attention to the largest errors -assess the size of the overall error -improve forecasts
Sales forecasts are a(n) ______ of future sales.
Estimate
True or false: Using absolute value for MAD allows positive and negative forecast errors to cancel each other out.
False
How much can a typical DC save on the cost of getting a case of product through the facility, by automating the front end receiving activities?
15 to 30%
What type of public warehouse provides storage for merchandise controlled by the government until they are distributed to the marketplace?
Bonded warehouses
Which method uses joint planning and decision making across supply chain trading partners to synchronize inventory strategies?
CPFR
The definition of sustainable packaging includes which of the following?
Can be recovered and reused
Understanding the carrier's ideal requirements, and using technology to optimize cost and service aspects of the relationship, are minimum requirements to develop a _____
Carrier friendly program
Several trends are impacting transportation. Which trend concerns the need for greater cooperation between supply chain partners from both the demand and supply side?
Collaboration
Which method of forecasting uses a group of experts who jointly decide on a sales forecast?
Consensus panel
In which form of nonowned warehousing do we typically see lower costs for storage?
Contract
The dominant form of nonowned warehousing is ______ warehousing.
Contract
Which form of warehousing typically is least costly to build and maintain?
Cross-docking
One reason we measure forecast error is to ______ forecasts.
Improve
How is economic productivity in American business affected by transportation congestion?
Increased inventory levels
What is the key benefit of automating receiving, sorting and picking activities in material handling systems?
Increased productivity and efficiency
In the United States, which mode of transportation carries over 70% of al freight tonnage?
Motor
The majority of consumer goods are transported by which mode of transportation?
Motor
The final stage in the decision-making process when making mode and carrier selections is _______
Post-choice evaluation
Collaborative planning, forecasting and replenishment encourages ______ to share information, synchronized forecasts, risks, costs and benefits.
Supply chain trading partners
Which mode of transit competes domestically with rail and pipeline, because the majority of commodities it carries are semi-processed or bulk-transport of raw materials?
Water
Which mode of transit is most suited for importing heavy, bulky, low-value-per-unit commodities, where speed is not a primary consideration?
Water
Which of mode of transit is most suited for importing heavy ,bulky, low-value-per-unit commodities, where speed is not a primary consideration?
Water
Which category of order picking groups shipments by a given characteristic, such as common carrier?
Wave picking
In which situation is outsourcing to a 3PL the best option for a firm?
When warehousing expertise is not a firm's core competency
Which category of order picking assigns each order selector to a specific part of a warehouse?
Zone picking
Select all that apply: Warehousing of inventories is necessary to ______.
achieve transportation economies of scale achieve production economies of scale
One KPI used to determine how well an organization is doing in terms of outbound transportation activities is outbound freight costs_____
as a percentage of net sales
The primary reason the sales force estimate method of forecasting is useful is that salespersons are ______.
best able to estimate customer needs and detect trends
In using a sales force estimate, the primary caution is that these estimates are subject to ______.
bias
A warehouse management system (WMS) managers direct warehouse activities and warehouse ______.
business processes
Sales and operations planning is a ______ planning method.
collaborative
One benefit of using public warehousing over private warehousing is ______.
conservation of capital
Three options firms have to store products in the field are public warehousing, private warehousing, and ______ warehousing.
contract
The warehousing option which moves products quickly through a facility to minimize storage time is ______.
cross-docking
Select all that apply: Some of the most importance factors affecting the size of a warehouse include ______.
customer service levels cost of land and buildings
Materials management is the movement, protection, storage and control of materials and products through ______.
disposal of the production
Storage and order-picking equipment in manual material handling systems includes high-density, also called ______ racks.
drive-in
Select all that apply: A quantitative forecasting method is ______.
exponential smoothing moving average
The items that materials management and handling move and store are ______.
financial assets
Automated equipment for materials handling is grouped into ______ categories, the same as non-automated equipment.
five
Warehouses handle most products in ______ cycles, unlike distribution centers, which handle most products in ______.
four; two
When outdoor retailer REI installed solar panels on the roof of its distribution center in Arizona, they demonstrated the use of a ______ strategy.
green
Select all that apply: A problem often faced by firms in choosing to automate materials handling operations is _______.
high initial investment maintenance and repair costs
A typical WMS is able to minimize inventories because it ______.
increases warehouse space utilization
Warehouse management systems have brought about the rapid development of ______ which interconnect computers, peripherals, programmable controllers, and other intelligent devices
industrial networks
Mean squared error allocates more weight to ______ forecast errors.
larger
The question of "where should products be located within a warehouse" is central to warehouse ______.
layout
The type of products being stored, availability of financial resources, level and type of competition, and customer needs will determine the optimal warehouse ______ for an organization.
layout and design
The exponential smoothing forecast is not recommended for ______ forecasts.
long-term
Select all that apply: Generally speaking, manual systems do the best job when there is a ______ level of throughput of products in a warehouse.
low high
One reason to warehouse inventories is to build vendor loyalty by consistency of purchasing, or in other words, to ______.
maintain a source of supply
The basis of transportation outsourcing decisions is a _____ decision
make-or-buy
In site selection decisions for a warehouse, examining what geographic area will improve the sourcing of materials is a ______ perspective.
marco
Select all that apply: Some of the most importance factors affecting the size of a warehouse include ______.
materials handling system used number of products marketed
In site selection decisions for a warehouse, examining the factors which identify specific locations within a larger geographic area is a ______ perspective.
micro
Bar codes and RFID technologies are examples of ______ systems.
real-time location
By reducing the amount of packaging materials used, storage facilities ______
reduce waste
Storage and order-picking equipment in manual material handling systems includes low-density, also called ______ racks.
single-deep
The question of "where should products be placed within the storage facility?" affects receiving, storage, and order picking, and is called ______.
slotting
When a warehouse does everything right and evaluates its business according to a combination of the most popular KPIs, it leads to ______.
the perfect order
Select all that apply: Exponential smoothing methods can incorporate ______.
trend correction seasonality index
Select all that apply: The working definition of productivity for a warehouse must include which element?
utilization real inputs real outputs
A consensus panel needs to watch for what potential problem?
A strong voice that may not have the best estimate
What system maximizes space and minimizes material handling by automating putaway processes?
A warehouse management system
Several trends are impacting transportation. Which trend concerns the now-commonplace delivery of next day and same day delivery?
Amazon factor
What type of flexibility is an advantage of private warehousing?
Designing the warehouse to fit specific customer needs
Which intermodal transport combines the low cost of long-haul movements with the flexibility and convivence of short-haul transportation?
Piggyback service
Shippers have increased their interest in moving liquid, gas, and slurry products to the ________mode of transit because of cost and dependability advantages over other modes
Pipeline
Which of theses is one of the basic forms of international intermodal distribution?
Landbridge
The process of moving a shipment on the final leg of its journey to the customer's door is called _____delivery
Last mile
Packaging organizes, protects, and identifies products and materials, which serves which primary function in the supply chain?
Logistics
An exponential smoothing forecast enables the forecaster to consider a ______ sales history than the moving average method.
Longer
What type of materials handing equipment has been the mainstay of a traditional warehouse?
Manual equipment
The mode of transportation that is most associated with energy products such as coal slurry and natural gas is_____
Pipeline
What are the two basic categories of forecasting?
Qualitative and quantitative
Select all that apply: Which technologies are used in materials handling to identify items quickly and accurately?
RFID Bar codes
Which mode of transportation accounts for just over one-third intercity freight traffic by weight in the United States?
Rail
With recent investments in technology, equipment, and maintenance, service levels have improved significantly and some freight has shifted to which mode of transportation?
Rail
If a materials handling worker spends just 10 minutes a day searching for and gathering needed items, that equates to ______ of wasted labor.
40 hours a year
Slotting has been estimated to represent ______ percent of warehouse operating costs.
50 to 70
What is the element of "performance" when defining warehouse productivity?
Actual output over standard output
Which mode of transport is viewed as a premium, emergency service because of its higher cost?
Air
Which mode of transport offers the shortest time-in-transit for delivering products to a distant location?
Air
In contrast to the consensus method, the ______ arrives at a consensus anonymously
Delphi method
Which forecasting method uses a panel of experts to anonymously reach a consensus?
Delphi method
Which statement is true about warehouses and distribution centers?
Distribution centers can serve as warehouses, but warehouses cannot serve as distribution centers.
Which ancillary mode of transportation is most suitable for deliveries in congested and/or confined urban areas?
Drones
Which ancillary mode of transportation should be able to achieve same-day delivery of packages?
Drones
Piggyback service is ______transportation because it allows products to remain in the original container while shifting between transportation methods
Dual-service
What is the most common form of public warehousing?
General merchandise warehouses
Select all that apply: Sustainable packaging should achieve which of these criteria?
Is designed to optimize materials and energy Meets market criteria for performance and cost
Which statement about automated equipment for materials handling is true?
It can be grouped into the same categories as non-automated equipment.
Which statement is true about materials management as an aspect of supply chain management?
It includes inbound and outbound logistics.
Why is last-mile delivery so crucial in the retail environment?
It is necessary in achieving customer satisfaction.
How does MAD avoid the likelihood of positive and negative errors canceling each other out when it calculates average forecast error?
It uses absolute value
Packaging provides information about the product, such as ingredients and directions for use, which serves which primary function in the supply chain?
Marketing
Which error-checking measure does not treat all sizes of errors equally?
Mean Squared Error (MSE)
Which international intermodal method provides door-to-door transportation from ports on the U.S. West Coast?
Micro-bridge
What is the most frequently used KPI for warehouse executives?
Percentage of on-time shipments
Which form of warehousing provides a firm the greatest degree of control over storage, handling and management of their goods?
Private warehousing
The first stage in the decision-making process when making mode and carrier selections is _____
Problem recognition
Which statement about public vs. private warehousing is true?
Public warehousing increases a firm's ability to manage seasonality of demand.
Long term relationships between shippers and carriers are often referred to as ____.
Strategic partnerships
Which statement is true about sales forecasting?
They are expected to haver errors
What is the major reason to outsource warehousing to 3PLs?
To improve a firm's asset turnover and return on asset ratios
Which infrastructure has not kept pace with the growth in domestic and global trade?
Transportation
True or false: One issue firms may face in automating materials handling operations is employee retention.
True
True or false: Sales and operations planning integrates data from across the organization to increase forecast accuracy
True
