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
all of the following are elements of Just-In-Time (JIT) EXCEPT
additional workforce
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
when managing inventory EOQ is used to
determine how many parts to order
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
Dependent Demand includes all of the following EXCEPT:
movements in Gross Domestic Product (GDP)
if you practice the Kaizen process of improvement which of the following describes your approach to solving problems
slow and steady wins the race
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
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
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
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
indirect costs can be traced directly to the unit produced
false
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
I read a few articles in class about transporting product by rail car. What product were they shipping
oil
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
