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110 Multiple choice questions

  1. supplying materials and component parts whose demand depends on the demand for a specific end product
  2. High variable and low fixed cost
  3. Cost of placing order which may have both fixed and variable components
  4. Capital Cost = Carry Inventory
    Storage space cost is not relevant
    Insurance requires special analysis
    Obsolescence is not as important
  5. includes insurance and taxes
  6. many situations were dominated by a relatively few vital elements.
  7. Balancing supply and demand.

    Protecting against uncertainty.

    Allowing quantity purchase discounts.

    Supporting production requirements.

    Promoting transportation economies.
  8. 1.2%
  9. A static approach, and the solution is optimum for only one point in time.
    The technique assumes linear transportation rates, whereas actual transportation rates increase with distance but less than proportionally.
    The technique does not consider the topographic conditions.
  10. Short-term horizon
    Too little or too much detail
    Thinking in two dimensions
    Using published costs
    Inaccurate or incomplete costs
    Use of erroneous analytical techniques
    Lack of appropriate robustness analysis
  11. Air, rail, and water
  12. Routing and scheduling
    Load planning
    Load tendering
    Status tracking
    Appointment scheduling
  13. High variable and low fixed cost
  14. Master production schedule (MPS)
    Bill of materials file (BOM)
    Inventory status file (ISF)
    MRP program
    Outputs and reports
  15. time associated with transportation and the inventory costs that are associated with it.
  16. Costs incurred by inventory at rest and waiting to be used.
  17. Most important
  18. Least Important
  19. The supplier and its customer agree on which products are to be managed using in the customer's distribution centers.
    Also called "pull" data
  20. Producing and acquiring goods.
  21. Finance
    Marketing
    Manufacturing
  22. 4.6%
  23. Focus on available inventory.
  24. Inventory Status File
  25. bill of lading
  26. Goods flow from receiving to shipping with minimal interim sorting
  27. Positioning of inventories located at "market-facing" logistics facilities
    Greater use of "customer direct" delivery
    "Cross-docking"
    Due diligence for location and site selection
    Greater use of third-party-logistics services
  28. Truck
    Rail
    Air
    Water
    Pipeline
    Intermodal transportation
  29. Air and motor carriage
  30. Inventory control
    Safety, maintenance, and sanitation
    Security
    Performance analysis
    Information technology
  31. Procurement, Production, Transportation
  32. Logistics
    Procurement
    Marketing
  33. reflects the possibility that inventory value might decline for reasons beyond firm's control
  34. refers to the expense of placing an order for additional inventory, not including product cost
  35. Simplicity and its ability to provide a starting point for location analysis.
    Provides a starting point for making a location decision.
  36. Water carriers and rail carriers
  37. Zero Inventories
    Short, consistent lead times
    small, frequent replenishment quantities
    high quality, or zero deficits
  38. U.S. population shifts

    Service/cost requirements of JIT manufacturing

    European Union

    Continuing searches for lower-cost manufacturing
    growing economic importance of China and the
    Asia-Pacific
    sourcing of raw materials from offshore suppliers
  39. Air and motor carriage
  40. Minimum rate of return on new investments.
  41. Direct shipment of goods

    Movement of goods through distribution facilities to customers
  42. Can occur in the supply of raw materials, in the demand for finished product, or in both. There is a need to know the proper inventory level to have. Can impact transportation.
  43. Change in Corporate Ownership
    Cost Pressures
    Competitive Capabilities
    Corporate Organizational Change
  44. originates the shipment
    provides all the information the carrier needs
    stipulates the contract terms, including carrier's liability for loss and damage
    acts as a receipt for the goods the shipper tenders to the carrier
    in some cases, shows certificate of title to the goods
  45. a geographic area into which importers can enter a product and hold it without paying duties—and only paying duties or customs when is it shipped into U.S. customs territory.
  46. Includes handling costs associated with moving products into and out of inventory, as well as such costs as rent, heat, and light
  47. Arises in Demand and obtaining materials from suppliers.
  48. Rail and water
  49. Cost of distribution centers and inventory vs. cost of transportation

    Cost of additional facilities vs. level of customer service

    Space vs. equipment

    Equipment vs. people

    People vs. space
  50. Vendor-Managed Inventory
  51. associated with manufacturing; how long it takes to get from raw materials to finished goods, and the costs associated.
  52. carrier's invoice for carrier charges
  53. Back order, which has variable costs. Loss of sales. Loss of customers
  54. Air and motor carriage
  55. recoup monetary losses
  56. specific blanket area, the transportation definition of a particular city or town.
  57. software control system that improves product movement and storage operations
  58. Owner of product while it is in transit will incur resulting carrying costs.
  59. generate performance reports
    support paperless processes
    enable integration of materials handling equipment
    picking systems
    sorting systems
    leverage wireless communication
  60. Accumulation

    Sortation

    Allocation

    Assortment
  61. High fixed versus low variable.
    Product moves through it in high volume
  62. Assigns inventory items to one of three groups according to the relative impact or value of the items
  63. expenses incurred each time an organization modifies a production or assembly line to produce a different item for inventory
  64. Distribution cost efficiency
    Aggregate cost efficiency
    Asset utilization
    Resource productivity
    Resource efficiency
  65. 4.7%
  66. relies on customer orders to move product through a logistics system
  67. cost efficiency
    inventory accuracy
    order fill rates
    capacity utilization
  68. delivered to the right place
    at the right time
    in defect-free condition
    with the correct documentation, pricing, and invoicing
  69. the exact products and quantities that they ordered
  70. -Supply chain complexity
    -Competing goals among supply chain partners
    -Changing customer requirements
    -Limited information availability
    -Synchronizing transportation
    -Capacity constraints
    -Rising transportation rates
    -Governmental requirements
    -Regulation
  71. 80%
  72. Motor carriage
  73. 6.7%
  74. uses inventory replenishment techniques in anticipation of demand to move products.
  75. Reflects the direct debt service cost of having capital tied up in inventory.
  76. the process of designing a model of a real system and conducting experiments with this model for the purpose either of understanding the behavior of the system or of evaluating various strategies within the limits imposed by a criterion or set of criteria for the operation of the system
  77. are able to accommodate broad problem definitions, but they do not provide an optimum solution.

    help to reduce a problem to a manageable size and search automatically through various alternatives in an attempt to find a better solution.
  78. Labor availability

    Demand variation

    Increasing customer requirements
  79. Time, Place
  80. Air and motor carriage
  81. Materials requirement Planning
  82. Widely Used, Low fixed cost, high variable
  83. GDP increased at a higher rate than inventory costs. It created higher revenues with less assets.
  84. a firm's logistics/supply chain network and the locations of its key facilities are fixed.
  85. Rail, water, and pipeline
  86. involves the physical movement of goods between origin and destination points.
    The transportation system links geographically separated partners and facilities in a company's supply chain.
  87. High fixed, low variable
  88. Master Production Schedule
  89. Lesser Importance
  90. Transportation Management Systems
  91. Opportunity Cost. Cost of capital tied up in inventory.
  92. Product Handling Functions

    Support Functions

    Distribution Metrics

    Customer Facing Measures

    Internal Measures
  93. likely products together. Bread and Jelly
  94. Transportation costs
    Cost of lost sales
    Warehousing costs
    Inventory costs
  95. when it is directly related, or derives from, the demand for another inventory item or product
  96. permits the shipper to stop a shipment in transit and to perform some function that physically changes the product's characteristic.
  97. when such demand is unrelated to the demand for other items
  98. When an organization anticipates that an unusual event might occur that will negatively impact its source of supply.
  99. Like product together.
  100. is to more accurately forecast demand and to explode that information back to develop production schedules
  101. Optimizing

    Heuristic

    Simulation
  102. Bill of Materials
  103. varies greatly
  104. Product characteristics must drive the design of the distribution process such as product value, durability, temperature sensitivity, obsolescence, volume, and other factors
  105. key performance indicators
  106. determine the size of each operation within the network
  107. Distribution Requirements Planning
  108. Site availability, leases, contracts, and investments make changing facility locations
  109. an asset on the balance sheet and a variable expense on the income statement.
  110. Precise mathematical procedures that are guaranteed to find the "best" solution