# Project #34449 - Supply Chain Modeling IET 671

BOOK: Supply Chain Management: Strategy, Planning, and Operations,

by Chopra, S. and Meindl, P. (Prentice Hall)

Calculus I & II; Statistical Method I

Question 1

The criteria to use in choosing forecast method and parameter choices include

 formCheckList.addElement(new Check_Answer({ref_label:"1",name:"mc-ans-_15927973_1"})); a. Minimizing MAPE b. Above all c. Tracking signal around the zero (axis) line d. Minimizing MAD, or MSE e. Minimizing bias

2 points

Question 2

A high Level of Product Availability requires large Inventories that ________.

 formCheckList.addElement(new Check_Answer({ref_label:"2",name:"mc-ans-_15927974_1"})); Lower costs Raise costs No change All of the above could raise or lower costs

2 points

Question 3

Autoregressive Integrated Moving Average ARIMA (p, d, q) Models attempt to describe the systematic pattern of a time series by 3 parameters. What is the best statement below.

 formCheckList.addElement(new Check_Answer({ref_label:"3",name:"mc-ans-_15927975_1"})); Autoregressive (AR-terms) provides p Differences to achieve stationarity provides d Moving average terms (MA-terms)provides q Above first, second and third answers Seasonal autoregressive terms (AR-terms) provide p

2 points

Question 4

Collaborative planning, forecasting, and replenishment (CPFR) is a concept that encourages and facilitates collaborative processes between

 formCheckList.addElement(new Check_Answer({ref_label:"4",name:"mc-ans-_15927976_1"})); Members of a value chain Members of a supply chain Members of a distribution chain All of the above None of the above

2 points

Question 5

Just-in-time is an approach that produces or delivers a product or service just at the time primarily because

 formCheckList.addElement(new Check_Answer({ref_label:"5",name:"mc-ans-_15927977_1"})); Supplier wants it Distributor wants it Customer wants it Seller wants it Senior managers want it

2 points

Question 6

Which of the following is not a correct statement for inventory management?

 formCheckList.addElement(new Check_Answer({ref_label:"6",name:"mc-ans-_15927978_1"})); Inventory is the stock of any item or resource used in an organization. An inventory system is the set of policies and controls that monitors levels of inventory or determines what levels should be maintained. Inventory is an asset that company always preserves for future investment Inventory is being acquired or produced to meet the need of customers Inventory relates to independent and dependant demand as well as material requirement planning of a finished product.

2 points

Question 7

Goal of aggregate planning

 formCheckList.addElement(new Check_Answer({ref_label:"7",name:"mc-ans-_15927979_1"})); Maximize profit, Utilize maximum capacity Best meet customers demand Must meet the constraints Improve customer service level All of the above

2 points

Question 8

What is the goal of a customer relationship management system?

 formCheckList.addElement(new Check_Answer({ref_label:"8",name:"mc-ans-_15927980_1"})); To gain customers To eliminate negative interactions with customers To eliminate the need for customers To maximize profit None of the above

2 points

Question 9

A high Level of Product Availability contributes to

 formCheckList.addElement(new Check_Answer({ref_label:"9",name:"mc-ans-_15927981_1"})); Lower cost Raises costs No change None of the above Both the first and third answer above

2 points

Question 10

An appropriate strategy to achieve timely, accurate, paperless information flow is:

 formCheckList.addElement(new Check_Answer({ref_label:"10",name:"mc-ans-_15927982_1"})); Joint activities of all supply chain planning Revision of organization processes supported by information systems Efficient replacement Efficient store assortments None of the above

2 points

Question 11

The upstream supply chain is:

 formCheckList.addElement(new Check_Answer({ref_label:"11",name:"mc-ans-_15927983_1"})); Exclusively inside an organization Involved with procurement of material from suppliers Distribution of products or delivery of services to customers Both the first and third answer above None of the above

2 points

Question 12

The downstream supply chain is:

 formCheckList.addElement(new Check_Answer({ref_label:"12",name:"mc-ans-_15927984_1"})); Exclusively inside an organization Involved with procurement of material from suppliers Distribution of products or delivery of services to customers Both the second and third answer above None of the above

2 points

Question 13

Which is not an appropriate statement that coping with uncertainties in supply chain

 formCheckList.addElement(new Check_Answer({ref_label:"13",name:"mc-ans-_15927985_1"})); Uncertainty in demand Uncertainty in lead time Uncertainty in supply Uncertainty of production capacity Uncertainty of investment risks

2 points

Question 14

The estimate of the random component is the measure of demand _____________

2 points

Question 15

In supply chain management, make plans ___________ because forecasts are always wrong

2 points

Question 16

The bullwhip effect

 formCheckList.addElement(new Check_Answer({ref_label:"16",name:"mc-ans-_15927988_1"})); Is an effective way to motivate warehouse employees Applies to rodeos and has nothing to do with supply chain management Refers to the “swaying” motion associated with triple trailers Refers to variability in demand orders among supply chain participants Is an excellent way to increase market sales

2 points

Question 17

Which of the following is not a way to reduce inventory levels?

 formCheckList.addElement(new Check_Answer({ref_label:"17",name:"mc-ans-_15927989_1"})); Supply-push replenishment Smaller, more frequent orders Use of premium transportation Elimination of slower moving products Just-in-time system

2 points

Question 18

Cooperative supply chain relationships developed to enhance overall business performance of both parties is a definition of:

 formCheckList.addElement(new Check_Answer({ref_label:"18",name:"mc-ans-_15927990_1"})); Third-party logistics Supply chain collaboration Dovetailing Relationship marketing Operational agreement

2 points

Question 19

Which of the following is not a barrier to supply chain management?

 formCheckList.addElement(new Check_Answer({ref_label:"19",name:"mc-ans-_15927991_1"})); Regulatory and political considerations Lack of top management commitment Reluctance to share, or use, relevant data Incompatible corporate cultures All are barriers

2 points

Question 20

Supply chain management includes all except ?

 formCheckList.addElement(new Check_Answer({ref_label:"20",name:"mc-ans-_15927992_1"})); Demand fulfillment Revenue and profit Spend Job security Customer Satisfaction

2 points

Question 21

A supply chain management system automates inventory tracking but still requires that information be transferred manually.

True

False

1 points

Question 22

Forecast error measures provide important information for choosing the best forecasting method for a service or product.

True

False

1 points

Question 23

Research during the last two decades suggests that combining forecasts from multiple sources often does not produce very accurate forecasts.

True

False

1 points

Question 24

Aggregate planning is a process to determine ideal level of capacity and inventory needed

True

False

1 points

Question 25

Collaborative Planning, Forecasting and Replenishment (CPFR) is a business practice that not essentially combines the intelligence of multiple trading partners, but external business activities.

True

False

1 points

Question 26

Some companies are hesitant to enter into long-term relationships because such relationships might be perceived as limiting a company’s operational flexibility.

True

False

1 points

Question 27

Optimal Level of ‘Product Availability’ maximize supply chain profit

True

False

1 points

Question 28

Fill rate increases if safety inventory is increased. This also increases the cycle service level.

True

False

1 points

Question 29

Inventory carried for the purpose of satisfying demand that exceeds the amount forecasted in a given period is called reorder point of inventory

True

False

1 points

Question 30

Given the demand forecast for each period in the planning horizon, the aggregate plan is to determine all of the following: production rate, workforce, overtime, machine capacity level, subcontracting, backlog, inventory level, and capacity level for each period and profit over the planning horizon.

True

False

Question 1

Managing Uncertainty in Supply Chain

Assume the weekly demand for iPad at a B&B Computer World is normally distributed with a mean of 500 and a standard deviation of 150. The manufacturer takes two weeks to fill an order placed by the B&B manager. Suppose B&B manager currently orders 1200 iPads when inventory drops to a Reorder point. B&B is targeting a cycle service level of 95 percent and monitors its inventory continuously. Assume average flow time is average inventory by demand rate.

Question 2

H-D Company has its engine assembly plant in Starkville, MS and its motorcycle assembly plant in Jackson, MS. Engines are transported between the two plants using trucks. Each truck trip costs \$1,000. The motorcycle plant assembles and sells 250 motorcycles each day. Assume 300 operating days. Each engine costs \$500 and H-D Company incurs a holding cost of 20 percent per year.

H-D Company has decided to implement Just-in-Time (JIT) at the motorcycle assembly plant. As part of this initiative it has reduced the number of engines loaded on each truck to 900. If each truck trip still costs \$1,000, it impacts the annual costs at H-D Company?

Question 3

Consider the following forecast and actual demand of an automotive part in a car dealer.

Data set: Demand of an automotive part

 # Forecast Demand 1 1200 1100 2 1400 1220 3 1300 1140 4 1500 1280 5 1600 1350

Evaluate the following Forecasting Error Indexes for the (last) year five.

 Subject Business Due By (Pacific Time) 07/01/2014 06:00 pm
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