3344 CHAP 12

After considerable investigation and analysis, a _______ is found to provide material of such quality that routine testing on each batch is unnecessary. This term is designated by the Pharmaceutical Manufacturers Association. a. licensed franchisor b. return facilitator c. certified supplier d. contract manufacturer

C

Which supply chain function incorporates acquiring tools, services, raw materials, component parts, and any other items necessary from external suppliers? a. Integration b. Scheduling c. Procurement d. Job design

C

Which term below refers to managing the flow of completed goods, materials, or components which may be unusable or discarded through the supply chain from customers toward either distributors, suppliers, or manufacturers for the purpose of reuse, resale, or disposal? a. Process design b. Response management c. Reverse logistics d. Scheduling

C

Who specializes in dealing with all aspects of customers returning a manufactured good or delivered service and requesting a refund? Other responsibilities of this entity may also include repairing the manufactured good and returning it back to the customer, and/or invoking the service guarantee. a. Process designers b. Certified suppliers c. Return facilitators d. Demand forecasters

C

Barry White is the materials manager at a retail store. He has discovered a particular product experienced five turns last year with an annual sales volume of $15,000,000. Determine the mean inventory value for this product last year. a. $1 million b. $4.5 million c. $3 million d. $2.5 million

C 15,000,000/5

Nicki Minaj gets bored one day and decides to consider the metrics used to identify ways to improve the operation of supply chains. Within the context of these metrics, financial measures _______. a. show how quickly goods move through supply chains b. calculate order fulfillment lead time in supply chains c. include perfect order fulfillment and perfect delivery fulfillment d. show how supply chain performance affects the bottom line

D

Which function of a supply chain includes the elements of managing company-owned vehicle fleets and selecting transportation carriers? a. Procurement b. Integration c. Scheduling d. Logistics

D

Bark Bits, a dog treats store, has cost of goods sold equivalent to $1,200,000. The dog treats store also has $450,000 in total average on-hand inventory. Considering the business has 250 operating days in a year, what is the cost of goods sold per day? a. $2,500 b. $7,500 c. $9,200 d. $4,800

D $1,200,000/250 days

SouthernWidgets Inc., a motorcycle parts supplier, held an average motorcycle parts inventory of $10 million during the previous year, and their cost of goods sold was $45 million. Given this information, the motorcycle parts experienced how many turns in its inventory turnover? a. 2.5 b. 5.5 c. 3.5 d. 4.5

D 45,000,000/10,000,000

Choose the most accurate statement as it pertains to order amplification. a. Order amplification in the supply chain leads to the bullwhip effect. b. Increasing price fluctuations can help manage order amplification. c. Order amplification decreases as one moves back up the supply chain away from the retail customer. d. Large order sizes can help manage order amplification.

A

Choose the remark that best describes a drawback of vendor-managed inventory (VMI). a. It often results in higher customer inventories than necessary. b. It prevents vendors from making production decisions using downstream customer demand data. c. It does not allow vendors to view inventory needs from the customer's perspective. d. It prohibits the use of customer information, which leads to poor control of inventory and capacity.

A

Considering supply chain performance, the primary objective of sustainability measures is to _______. a. have a carbon-neutral supply chain b. reduce the order cycle time for all customers c. minimize the time taken to fill a customer's order d. have a byproduct-free production process

A

Define inventory turnover. a. It is a measure of how quickly goods are moving through the supply chain. b. It is a measure of the number of perfect orders. c. It is the time taken to fill a customer's order. d. It is the cost associated with repairs of goods that have been returned.

A

Select the statement that is most representative of purchasing. a. It can have a significant impact on total supply chain costs. b. The delivery of goods and services is the responsibility of the purchasing function of a supply chain. c. The principal goal of purchasing is to source products from a single supplier to avoid capacity risks. d. It is critical to satisfy employees' needs and expectations.

A

BentNails, a hardware store, held, on average, $10,000,000 worth of hardware inventory last year. Further, they reported an inventory turnover of five times per year. Determine the cost of goods sold in this scenario. a. $50 million b. $10 million c. $40 million d. $20 million

A $10,000,000 × 5

Fermi, a nuclear-powered bicycle company, has an annual sales volume of $6,000,000. Other potentially relevant information to solving for Fermi's daily revenue earned include the $3 million in cost of goods sold and $600,000 in total on-hand inventory, on average. Assume there are 300 business days in a year. Thus, what is the daily revenue earned by Fermi? a. $20,000 b. $40,000 c. $30,000 d. $10,000

A $6,000,000/300 days

Consider the Supply Chain Operations Reference (SCOR) model. Which function of this model includes managing orders, transportation, and distribution to provide goods and services? a. Plan b. Deliver c. Make d. Source

B

Which discipline manages the flow of materials and transportation activities, ensuring satisfactory customer service at a reasonable cost? a. Scheduling b. Logistics c. Procurement d. Integration

B

Which kind of inventory is the type that has been ordered but is in transit? a. Buffer inventory b. Pipeline inventory c. Anticipation inventory d. Decoupling inventory

B

Which of the following is the entity engaged in coordinating and sharing information between sellers and buyers? This entity can be either virtual or real. a. Investor b. Intermediary c. Franchisor d. Manufacturer

B