BUAD 331 UTK FINAL EXAM QUESTIONS AND ANSWERS LATEST UPDATE 2024/2025 | 100% CORRECT

BUAD 331 UTK FINAL EXAM QUESTIONS AND ANSWERS LATEST UPDATE 2024/2025 | 100% SOLVED. Focus on creating supply chains that deliver the specific form, time and place utility that each customer segment is looking for, at a price that each segment is willing to pay - ANSWER 3. Two kinds of customers walk into grizzly fly fishing shop: college freshman taking a first time class and high end professionals with fishing experience, in order to deliver most value to each of these customers, john should B. Australian grocery store provides food in remote towns - ANSWER 4. Among the following examples, which refers mostly to the place utility that SC provides? c. Transportation and other Distribution costs would likely increase44 - ANSWER 5. Chuck from sales department wants to increase volume of sales for a product. To do this, he wants to service a client in a new market that is three times as far from your current DC as current markets. although chuck might be happy because his sales numbers go up, total overall profit might not improve because: Distance to other DHL operations is important since they do not operate in isolation - ANSWER 6. A WSJ article discussed in class regards DHLs decision to locate/expand an operation in cincinatti/north Kentucky (CVG airport) what does this example imply about the DHL Greenfield/brownfield site location decision 7. b. Employees should expect safe working environment, and companies should take the steps to maintain one - ANSWER 7. The safety management process is important to Supply chain professionals because: b. Improving how they deliver value to different customer segments - ANSWER 8. In today's competitive business environment, the most successful firms focus mainly on improving customer satisfaction by: e. Stay the same - ANSWER 9. Recall that firms may seek to gain comp adv through superior SC mgmt. refer to the value adv/productivity adv matrix (figure 1) to answer question below CHART: QUESTION: COMPANIES LOCATED IN THE COMMMODITY AMRKET QUADRANT C SHOULD TRY TO DO ANY OF THE FOLLOWING EXCEPT BUAD 331 UTK FINAL EXAM QUESTIONS AND ANSWERS LATEST UPDATE 2024/2025 | 100% SOLVED 10. Supply chain management: - ANSWER is the systematic coordination of purchasing, manufacturing management and distribution upstream with suppliers and downstream to customers b. Is pulled closer to actual time (Shortens), improves - ANSWER 11. As the time horizon for planning SC activities ____< the accuracy of the planning ___ c. Creating a production- oriented focus across SC - ANSWER 12. Firms have been talking about the GREAT DIVIDE as one of their biggest challenges, among the following approaches, which would NOT help a business deal with the great divide? the top 20% of products and customers by sales or profitability are considered the A category and should receive the highest levels of customer service - ANSWER 13. According to the Pareto or 80/20 rule shown above: c. Establishing a standard customer service policy for all customers - ANSWER 14. Establishing a segmented customer service policy involves all of the following EXCEPT: to enable john to serve his best customers at a higher level and promote his best products - ANSWER 15. In GRIZZLY FF shop divides their products and customers into 3 categories based on profitability: "A"- these are the top 20 % of products and customers "B"- these are the next 50% of products and customers "C" these are the bottom 40% of products and customers WHAT WAS THE PURPOSE OF THIS ACTIVITY? c. Visibility and velocity - ANSWER According to the textbook author, in order to create SC responsiveness to customer demands a firm should focus on what two primary capabilities? b. Weighted moving avg - ANSWER A safety incident rate (RIR) measures the number of annual serious incidents in a manner that is similar to___? a. CORRECT: 75% = 1500/2000 - ANSWER Of 2000 deliveries from proctor and gamble to Walmart last year, 1500 fulfilled all 12 requirements of the perfect order, 300 fulfilled 11 out of 12 and 100 filled 10 out of 12 and 100 filled 9 out of 12. What was p and gs perfect order score b. illustrating how SC activities impact the components of the income statement and balance sheet that lead to the ROA ratio - ANSWER The strategic profit Model (Dupont model) can be used to illustrate the impact of logistics and supply chain management on ROA by: b. cash-to-cash cycle time - ANSWER The time it takes to convert a payment from raw materials into collection of revenue for the finished goods into which those raw materials where built is known as: a. Overestimate their competitive abilities - ANSWER Companies that do not benchmark their processes and companies that use limited SC benchmarking have been shown to? b. small improvements in SC activities can yield large improvements In ROA - ANSWER The strategic profit or Dupont model as discussed in class demonstrates the following principle: d. total cost of ownership - ANSWER If you take into account things such as maintenance, disposal, returns management and training when calculating the true cost of a product/service you are employing the concept of: a. correct: 13% - ANSWER 26. Given the pareto chart above, approx. how many of the customers are losing profit for the firm? CHART 13% fixed asset cost - ANSWER 27. A firm decides to outsource its warehousing to a 3rd party logistics providers, what financial component does this decision have the biggest impact on? a. best in class benchmarking - ANSWER 28. when a company in the electronics industry benchmarks the customer service processes used at Disney they are using?: Satisfy demand by putting the right product in customers' hands at the right time, right place, right quality, and right price. - ANSWER 28. when a company in the electronics industry benchmarks the customer service processes used at Disney they are using?: either provide lower levels or service to reduce cost-to-serve or raise product price - ANSWER 30. If Grizzly Fly-Fishing Shop realizes that they always lose money when selling to one segment of the current customer base, what is the best thing they could do regarding those customers in the future? Increase Return on Assets - ANSWER 31. To create financial value in a firm, managers should seek supply chain improvements that: Enhance cash flow amounts, accelerate cash flow timing, and improve the cash-to-cash cycle ( ALL OF THE ABOVE) - ANSWER 33. Since the ultimate value of a firm may be represented by the net present value of its future cash flows (Warren Buffet), firms should seek to implement logistics and supply chain practices that: Uncertainty makes this forecasting very difficult and all forecasting errors result in some kind of inventory problem - ANSWER 34. In a conventional organization, the only way to close the Lead Time Gap is to attempt to forecast and carry just in case inventory to protect against uncertainty. What is true about the relationship between this uncertainty in forecasting and the related inventory? Satisfy demand by putting the right product in customers' hands at the right time, right place, right quality, and right price. - ANSWER 35. It is said today that marketing is responsible for identifying needs and creating demand, while supply chain management's role is to: b. The holding costs of inventory average 15-40% annually - ANSWER 36. Decreasing average inventory held by a firm, while maintaining sales levels, should be a managerial objective because: c. Achieving customer value - ANSWER 37. What overarching goal should drive the design and executions of the supply chain? Get information on real end customer demand to the upstream supply chain, in order to move the decoupling point as close to the point of origin as possible - ANSWER 38. In managing the Demand Penetration Point (Decoupling Point), a firm should seek to: The amount of time the customer is willing to wait - ANSWER 39. -The Lead Time Gap is an expression of the difference between the amount of time it takes for the supply chain to deliver the product/service and: A. answer: 65% = biggest gap between curves - ANSWER 40. To maximize the profit, service level should be set at: (CHART QUESTION)65% a. 80 units - ANSWER 1. Average daily demand for a product is 8 units, average lead time for an order to arrive is 10 days, and the economic order quantity is 80 units. What is the reorder point? a. it accounts for lead time variance and demand variance b. true answers i. it balances order costs against inventory carrying costs to determine order quantity ii. it takes into account for order and set up costs iii. it attempts to minimize the cost activity in a firm's inventory management process iv. it is the order quantity at the point where the slope of the total inventory cost curve is zero - ANSWER 2. which of the following is an incorrect statement about the Naïve EOQ process? a. EOQ - ANSWER 3. in the figure above, the point where the inventory carrying cost curve the order/set up cost curve cross represents which of the following EOQ a. Shorten the cash to cash cycle and decrease overall business process variability - ANSWER 4. If you wanted to best improve your firm's overall cash flow position, you would try to a. Calculate the optimal amount of inventory to be reordered by balancing ordering costs with carrying costs - ANSWER 5. The EOQ model attempts to a. Visibility that allows managers to see through the water and solve inventory problems - ANSWER 6. The instructor discussed the rocks in the river analogy. This concept includes a. Lower cycle stock by reducing ordering/set up costs and lower safety stock by reducing demand and supply variance - ANSWER 7. In the EOQ model, the manager wants to optimize fulfillment. As a SCM consultant, what will you suggest to the manager a. Decrease variation - ANSWER 8. The best way to decrease safety stock is to a. Both a and b i. The retailer ii. The manufacturer who supplies the retailer - ANSWER 9. Reducing count or down counting products adds complexity to the supply chain and can be induced by a. Bullwhip effect - ANSWER 10. An increase in the variation of demand from the customer level up through the manufacturer to the suppliers that results in greater amounts of wasted inventory and increased cost in the supply chain is called a. 6-7% or less - ANSWER 11. For many products, researchers have shown that out of the whole order cycle, on average how much time is actually value added time a. required suppliers to invest capital and paid suppliers after cars were sold - ANSWER 12. in your October work on you own time assignment, VW did 2 things with modular production that were different than traditional auto manufacturers. They were: a. focus on continuous quality improvement - ANSWER 13. W Edwards Deming told leaders in post war Japan that the best way to improve their economy was to a. used new technology to develop an agile response in a market that has historically been served by only lean manufacturing - ANSWER 14. the instructor gave an example about Sony's BlueRay disc demand response strategy. Sony did something that was innovative which was: a. How should we price the product b. The 3 question i. How much should we produce or purchase ii. Where should we position the product iii. What should we produce/purchase - ANSWER 15. which of the following is not one of the 3 questions you should ask when making an order fulfillment decision? a. The vendor is responsible for responding to the customer's purchase order b. Associated with vendor managed inventories i. Vendor receives data about the customers' sale and stock level ii. Vendor is responsible for conforming to the inventory plan