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UARK SCMT 2103 Exam 1 Latest Updated
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UARK SCMT 2103 Exam 1 Latest Updated
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UARK SCMT 2103 Exam 1 Latest Updated$1,200,000 - ANSWER-Average inventory last year was $200,000 and turns were 6.
What was cost of goods sold last year?
$1.20 - ANSWER-Imagine a customer is looking for a giant specialty candy bar in a
store but it is not on the shelf. Suppose that the retail margin on the candy bar is $3 and
that 40% of the customers forgo having the candy bar but the other 60% switch to
another brand. Suppose that the margin the retailer makes on this brand is also $3 per
unit. Then the cost of a stockout per unit of lost sale to the retailer is ____.
$150,000,000 - ANSWER-The inventory holding cost factor is 10% and the average
inventory next year is expected to be $1.5 billion. What is the expected inventory
holding cost?
0 and 1 - ANSWER-In an exponential smoothing model, alpha can take on any value
between ______.
0.50 - ANSWER-Imagine you are a small format grocer and that on average you sell 30
squash per day. Some days you sell more and some days you sell less, but on average
you sell 30. In fact, you have been doing this for a while and have calculated the
probability of selling different quantities of squash, reproduced in the table of discrete
probabilities below.
Quantity Sold Probability
20 0.10
25 0.20
30 0.40
35 0.20
40 0.10
You have decided to stock fewer squash and instead stock more tomatoes. You
decided to stock 35 squash each day. About how many sales of squash do you expect
to lose each day as a result of this decision to stock more tomatoes?
1.85 - ANSWER-Consider the following analysis for four SKUs in a product category.
Which is the best estimate of the turns of the category as a whole?
SKU-Annual Sales-Average Inventory- Inventory Turns
SKU 1 1,600 110 14.55
SKU 2 18,000 10,000 1.80
SKU 3 18,000 10,000 1.80
, SKU 4 18,000 10,000 1.80
Totals 55,600 30,110 ?
10 - ANSWER-Given a sample of weekly sales data of 15, 5, 10, and 10, what is the
four-period moving average sales forecast for the next week?
150 - ANSWER-A distribution center has 180,000 pounds of sugar and the forecast is
1,200 pounds of sugar per day. What is the estimate of the days of supply?
33 - ANSWER-MegaMart operates 365 days a year. Annual inventory turns of a popular
product is 11. How many days of supply does that represent?
40% - ANSWER-Assume an item has a demand of 1 per day and a demand of 6 every
5th day. However, the item is out of stock every 5th day. What would be the item fill rate
(IFR).
75 units - ANSWER-The amount received by a firm is 100 units and it sold 25 units.
Assuming initial inventory is zero, what is the perpetual inventory?
75 units - ANSWER-The amount received by a firm is 200 units and it sold 125 units.
Assuming initial inventory is zero, what is the perpetual inventory?
83% - ANSWER-Hannah's Bakery bakes bread for 100 local supermarkets and sells
them through the supermarkets on a consignment basis, which means she only gets
paid for the bread that sell. She destroys bread that don't sell. People in this city love
her bread. The total delivered cost of bread is $ 0.50 per unit and she sells it to retailers
for $3.00. Given this information, calculate the optimal service level.
89% - ANSWER-Maria's Bakery bakes muffins for 170 local supermarkets and sells
them through the supermarkets on a consignment basis, which means she only gets
paid for the muffins that sell. She destroys muffins that don't sell. People in this city love
her muffins. The total delivered cost of muffins is $ 0.85 per unit and she sells it to
retailers for $8.00. Given this information, calculate the optimal service level.
a) Generate aggregate demand forecast
b) Modify forecast with demand intelligence
c) Create a consensus forecase
d) Create "rough cut" capacity plan
e) Execute at individual item (SKU) level against demand
f) Measure performance - ANSWER-According to the textbook, what is the appropriate
order for the steps of a S&OP process?
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