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Exam 13: Supply Chain Management and Logistics

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Question 1

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In the context of the metrics used to identify improvements to the operation of supply chains,financial measures:

A) include perfect order fulfillment and perfect delivery fulfillment.
B) show how supply chain performance affects the bottom line.
C) calculate order fulfillment lead time in supply chains.
D) show how quickly goods move through supply chains.

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Question 2

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Import tariffs help in preventing the dumping of low-cost products in the domestic economy.

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Question 3

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In the context of measuring supply chain performance,the goal of sustainability measures is to:

TekSupply Inc.,an automobile parts supplier,held an average automobile parts inventory of $4 million last year.Its cost of goods sold was $25 million.Therefore,the automobile parts experienced an inventory turnover of _____ turns last year.

The Pharmaceutical Manufacturers Association defines a _____ as one that,after extensive investigation,is found to provide material of such quality that routine testing on each lot received is unnecessary.

_____ refers to managing the flow of finished goods,materials,or components that may be unusable or discarded through the supply chain from customers toward either suppliers,distributors,or manufacturers for the purpose of reuse,resale,or disposal.

Air shipments have the lowest transportation cost and can carry unlimited weight.

Managing orders,transportation,and distribution to provide goods and services is part of the _____ function of the Supply Chain Operations Reference (SCOR) model.

Electronic data interchange and Internet links decrease the velocity of supply chains.

Josh Smith,the materials manager at a retail store,has determined that a particular product experienced 5 turns last year,with an annual sales volume of $15 million.What was the average inventory value for this product last year?

Which of the following is true of purchasing?

_____ inventory is inventory that has been ordered but is in transit.

ProShopper,a sportswear store,held an average sportswear inventory of $10 million last year and reported an inventory turnover of 5 times per year.What was its cost of goods sold?

_____ is the supply chain function responsible for acquiring raw materials,component parts,tools,services,and other items required from external suppliers.

The _____ function of a supply chain is responsible for selecting transportation carriers and managing company-owned fleets of vehicles.

If an online retail store has cost of goods sold equal to $2 million,has 200 operating days in a year,and has a total average on-hand inventory of $500,000,the cost of goods sold per day is _____.

_____ is the discipline of managing the flow of materials and transportation activities to ensure adequate customer service at reasonable cost.

Which of the following is NOT true about returns of sold goods?

Technology upgrades and backup systems and sites can help mitigate security risks.

A high average inventory value reduces the chances of inventory obsolescence.