Exam (elaborations)
SCM 300 Exam 1 With 100% Correct And Verified Answers
- Course
- Institution
SCM 300 Exam 1 With 100% Correct And Verified Answers
[Show more]
Content preview
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
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
, 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
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii Vendarsol
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Vendarsol. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $17.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67474 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
