UARK SCMT 2103
The objective of Walmart's early network design strategy was to: - Answer- Locate stores close to a Distribution Center
Which of the following is a theme throughout the course? - Answer- How logistics and supply chain management can be used to create a competitive advantage
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UARK SCMT 2103
The objective of Walmart's early network design strategy was to: - Answer- Locate
stores close to a Distribution Center
Which of the following is a theme throughout the course? - Answer- How logistics
and supply chain management can be used to create a competitive advantage
The management of the flow and storage of inventory, such that total costs are
minimized and customer service targets are achieved is referred to as: - Answer-
Logistics
Which of the following is a fundamental concept of logistics management? - Answer-
There are tradeoffs among many of the logistics costs and customer service targets.
A process is an ordered set of _____. - Answer- activities
The term ____________________ today refers to a firm that supplies logistics and
possibly other supply chain management services. - Answer- third-party logistics
(3PL) providers
Economies of scale is defined as a reduction in ________ when volumes are
increased. - Answer- average cost per unit
Which of the following benefits did Walmart achieve from their early network design
strategy? - Answer- Reduction in transportation costs from the DCs to the stores
Reduction in safety stock at the stores
Reduction in in-transit stock to the stores
Lower cost per store for the DCs to serve the stores
Responsiveness in the 4 R's of supply chain competition is defined as being able to
_________________. - Answer- change logistics and supply chain management
activities quickly
Safety stock is _______________. - Answer- the expected number of units on hand
just before a replenishment is received and available for use or sale
Which of the following products would you expect to require the most safety stock?
Product A: Standard Deviation of Sales = 18, Standard Deviation of Lead Time = 23
Product B: Standard Deviation of Sales = 20, Standard Deviation of Lead Time = 20
Product C: Standard Deviation of Sales = 30, Standard Deviation of Lead Time = 31
Product D: Standard Deviation of Sales = 29, Standard Deviation of Lead Time = 15
- Answer- Product C
, Which of the following are measures of reliability of a logistics process? - Answer-
Standard deviation & Coefficient of variation
Resilience in the 4 R's of supply chain competition is defined as being able to
_________________. - Answer- deal with unexpected disruptions in the supply
chain
Which of the following products would you expect to require the most safety stock?
Product A: Standard Deviation of Sales = 30, Standard Deviation of Lead Time = 30
Product B: Standard Deviation of Sales = 25, Standard Deviation of Lead Time = 15
Product C: Standard Deviation of Sales = 20, Standard Deviation of Lead Time = 20
Product D: Standard Deviation of Sales = 20, Standard Deviation of Lead Time = 25
- Answer- Product A
Ron's Sports operates 365 days a year. Annual inventory turns of basketballs is 10.
How many days of supply does that represent? - Answer- 37
Average inventory last year was $200,000 and turns were 6. What was cost of goods
sold last year? - Answer- $1,200,000
A distribution center has 110,000 pounds of grain and the forecast is 1,000 pounds
of grain per day. What is the estimate of the days of supply? - Answer- 110
The inventory holding cost factor is 25% and the average inventory next year is
expected to be $185,000. What is the expected inventory holding cost? - Answer-
$46,250
Which of the following formulae calculate annual inventory turns? - Answer- Units
sold in a year / average number of units in inventory
A company operates 365 days a year. Annual inventory turns is 12. How many days
of supply does that represent? - Answer- 30
Average inventory last year was $160,000 and turns were 7. What was cost of goods
sold last year? - Answer- $1,120,000
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 - Answer- 150
The inventory holding cost factor is 30% and the average inventory next year is
expected to be $200,000. What is the expected inventory holding cost? - Answer-
$60,000
Which of the following are common elements of the total cost of ownership model: -
Answer- Acquisition cost
Operation cost
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