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UARK Supply Chain Management Final 2024 Exam!! $12.99   Add to cart

Exam (elaborations)

UARK Supply Chain Management Final 2024 Exam!!

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UARK Supply Chain Management Final 2024 Exam!!

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  • September 4, 2024
  • 39
  • 2024/2025
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94 Multiple choice questions

Definition 1 of 94
Tracks the number of days between your company receiving a purchase order and completing
customer delivery.

Run out time


Customer order cycle time

Jit - just in time

Inventory turnover

Definition 2 of 94
• Shipments between 10,000 and 48,000 pounds

Delivery shipment sizes: parcel

Eoq (economic order quantity)

Fob destination (just extra information)

Delivery shipment sizes: truckload (TL)

,Term 3 of 94
Moving Average Method

Perpetual inventory method where the company computes a new average cost after each
purchase by dividing the cost of goods available for sale by the units on hand.


• Generally, a company seeks to narrow down the number of suppliers it does business with:
purchasing power,
• Consider: Risk of centralized supplier power


In-full delivery = [(total orders - orders that aren't complete or are incorrect in first
shipment) / total orders] x 100


Production scheduling allocates available capacity [equipment, labor, and facilities] to the
work that needs to be done.The goal is to use available capacity in the most efficient and
profitable manner

Definition 4 of 94
The percentage of orders that arrive as scheduled

In full delivery


Run out time

Supply chain visibility

On time delivery

Term 5 of 94
In full delivery: objective

A measure of a dimension of customer service

The act of delivering a product without any missing items

The time taken to manufacture a product


The process of ordering a product online

,Term 6 of 94
Logistic strategy: capital reduction

Recognizing that revenues depend on the level of logistics services provided

Minimizing the level of investment in the logistics system
Maximizing return on logistic assets


•Items instock across all items in a category
•Calculated: Items Instock/items in Category
•50 out of 100 items in stock = 50% PIIS

(Number of Days Out of StockAverage Units Sold per DayPrice per Unit (Profit per Unit is
also used) + Cost of Consequences

Term 7 of 94
Goal of SCM

Achieve both efficiency and effectiveness

The percentage of orders that arrive as scheduled

Shape, volume, weight

Achieve both competitve advantage and cost reduction

Term 8 of 94
Transportation advantage

Minimizing the variable cost associated with movement and storage

Having a lower combined inbound and outbound transportation cost vs another company

• Production runs in small batches [frequent]
• Low levels of inventory
• Higher production costs [frequent set ups]

Forecasting method that assumes next period's forecast is equal to the current period's
actual value

, Term 9 of 94
GMROII (gross margin return on investment)

*Sales or Cost of Goods Sold/ Inventory (Average)

*Example:
- $10, 000 iPhones per year
- Average Inventory = $1,000
- Turn = $10,000/$1,000 = 10

- Supplier records a sale at that point
(Customer's receiving dock)
- Customer records shipment to inventory (Inventory increases upon receipt at receiving
dock)

*Ownership of product is not transferred until it reaches its destination
*seller is liable for any damages
Seller is responsible for paying shipping costs as well as any liability's or any damages to
the product

A gross margin return on investment (GMROI) is an inventory profitability evaluation ratio
that analyzes a firm's ability to turn inventory into cash above the cost of the inventory.

Definition 10 of 94
* Minimize Costs + Maximize Service
* Allocation of Scarce Resources

Logistic strategy: capital reduction

Logistics Mgmt Focus

Inventory turn performance

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