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SCM 300 Exam 1 With 100% Correct And Verified Answers
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SCM 300 Exam 1 With 100% Correct And Verified Answers
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SCM 300 Exam 1 With 100% Correct AndVerified Answers
3 branches of supply chain - Correct Answer-
procurement (purchasing), operation, logistics,
reverse
Procurement (purchasing) - Correct Answer-the
branch of supply chain where deals happen,
negotiations for the best price on materials,
equipment, goods, and services. acquiring
materials and placing orders.
Operations - Correct Answer-the branch
responsible for making business processes effective
and efficient (help create high quality
products/services using fewest resources possible).
Logistics - Correct Answer-is concerned with
transportation, finding the right partners or best
ways to get the product or service from origin to
consumption.
Key variable in elementary inventory calculations -
Correct Answer-Q - lot size
D - annual demand
C - cost to purchase one unite
H - cost to hold on unit of inventory in one year
S - cost to place a single order
Annual cost to purchase inventory - Correct
Answer-DC
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, Annual Holding Cost (AHC) - Correct
Answer-(Q/2)*H
Annual Ordering Cost (AOC) - Correct
Answer-(D/Q)S
Equation for total cost - Correct Answer-DC + AHC
+ AOC
Economic Order Quantity (EOQ) - Correct Answer-
the lot size that minimizes total annual inventory
holding and ordering costs, making it the optimal
lot size
= SQRT (2DS/H)
if a manager is looking to minimize inventory costs
and maximize total annual savings then he would
calculate optimal lot size through this formula.
Cycle time - Correct Answer-the pace at which
product must move through the assembly line in
order for the assembly line to keep pace with
demand.
= Operating Time/D
Theoretical Minimum number of workstations
calculations (TM) - Correct Answer-total task time /
cycle time
3 Supply Chain Flows - Correct Answer-Money,
material, information
downstream supply chain - Correct Answer-the
direction that points towards the end customer
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