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E1P2

Demand management includes
flows of products
flow of services
flows of capital
(all of these)
The internal balancing method deals with
inventory and production flexibility
Four types of forecast error measures can be used. Which one of the following is not one of the four types?
exponential smoothing for trends
activity based costing
can be combined with customer segmentation
Applying Internet technology to the order management process has allowed organizations to not only take time out of the process but also to
increase the velocity of cash back to the selling organization
which is not part of dependability
consistent pricing
JIT is a ______ system
Pull
the two fundamental decisions required to manage a stock point are
how much to order (quantity) and when to order (period)
The EOQ model provides the decision maker with a “near optimal”
total cost minimizing order quantity
A faster, move expensive transportation mode can “pay for itself” in the EOQ model by
reducing in-tranit inventories, resulting in smaller optimum Q size
Transportation efficiency promotes _____ in the supply chain
competition
railroads fall into a group called
natural monopolies
which management area in an organization does not normally have transportation responsibility
manufacturing
The calculation of transportation rates typically includes some lower bound or limit based on ______ and some upper bound or limit based on _________
cost of service; value of service
Federal regulatory initiatives intiallly focused on
economic issues, to ensure competition and fair pricing for shippers
The motor carrier act of 1980
allowed trucking companies to compete against each other in the basis of rates and prices
Oversupply is created by
phantom demand
Many industry initiatives have attempted to create efficiency and effectiveness through the integration of supply chain activities and processes. Among the various initiatives is/are
efficient consumer response (ECR)
Vendor-managed inventory (VMI)
quick response (QR)
all of these answers
The term replenishment cycle refers to
the acquisition of additional inventory
WIP inventories
are associated with manufacturing
Using the Fixed Order Quantity Model in conditions of uncertainty, an organization must reformulate a reorder point in order to:
allow for safety stock
Challenges for the trucking industry include
competition
The emphasis in the federal regulation of transportation took a major shift toward
economic deregulation in the 1970s
The Federal Motor Carrier Safety Administration (FMCSA) works with, but is independent from, the ______ in improving the safety of the motoring public on our nations highways
NTSB
The term functional silos refers to:
lack of coordination between departments
Those customers who are in the “Danger Zone” segment are
the least profitable
Which department does not have any impact on inventory?
corporate governance
The main strategy behind routing guides is to
promote supply chain excellence
exponential smoothing
is one of the most commonly used techniques
One type of demand fluctuations is caused by random variation. What is random variation:
A development that cannot normally be anticipated
Inventory and the GDP grew by _____ amounts between 1994 and 2010:
different
Ordering cost refers to the expense of placing an order an:
Does not include the cost of the product.
An organization selling its products FOB destination holds the title to the goods until:
Products reach the customers facility.
The fixed order quantity model works well in a ___ based inventory replenishment system
All of the above: push, pull, and perpetual.
Economic deregulation sparked competition among carriers in several areas. Which of these is not an area of competition
Accessibility
Trade imbalances affect
Water carriers.
Air carriers were historically looked upon as
Emergency only carriers.
Two broad areas of involvement by the federal government in domestic transportation include
Safety and economic activity.
The Airline Deregulation Act of 1978
Allowed air carriers to set their own prices for tickets and cargo.
The U.S. Coast Guard (USCG) is “dual-hatted” with responsibilities under both
The Department of Defense and the Department of Transportation.
Order management system represents the principal means by which
Buyers and sellers communicate information relating to individual orders of product.
Batching economies or cycle stocks usually arise from 3 sources. Which is NOT a source
Demand.
WIP inventories are associated with
Manufacturing.
There are many assumptions built in to the “basic” EOQ model. Among them are
All demands satisfied.
Two of the most common adjustments to the “basic” EOQ model involve correcting for:
Price breaks (quantity discounts) and transportation (in-transit inventory and rate breaks).
The fixed interval model does NOT require close or constant surveillance of:
Inventory.
Desirability refers to:
Characteristics that influence modal selection.
Which of these is not a freight document:
Routing guide.
The Ocean Shipping Reform Act (OSRA) of 1984:
Permitted greater flexibility on tariffs and contracts for ocean carriers and conferences.
Excess capacity” available on the vast majority of cargo movements means that once the fixed costs of the movement are covered:
Additional freight movements represent “pure profit” in most cases.
The essence of demand management is to estimate and manage ___ and use this information to make operating decisions:
Customer demand.
The weighted moving average method assigns:
A weight to each previous period.
What are the steps in the CRM process
Segment customer base, identify service/package, then measure service and improve.
Traditional customer profitability analyses would start with ___ less returns and allowances (net sales) and subtract the cost of goods sold:
Gross sales.
While interest has traditionally focused more on the overall length of the OTC cycle, recent attention has been centered on:
Variability or consistency of this process.
Capital cost focuses on the cost of capital tied up in ___ and the resulting lost opportunity from investing that capital elsewhere:
Inventory.
JIT is a:
Pull system.
Which of the options is a principle shortcoming of the EOQ-based approach:
It does not support inventory decision making at multiple locations.
The distances in today’s global supply chains produce:
All of these: higher cost, longer transit times, and more disruptions.
Federal Regulation of transportation (in the US) has been around since:
Act to Regulate Commerce in 1887.
The Railroad Revitalization and Regulatory Reform Act of 1976:
Initiated the “deregulation era” by allowing rail carriers more freedom in setting rates and prices.
Shipment weight used for ratemaking is typically expressed in:
Hundredweight (cwt).
Costs are difficult to assess on any given shipment primarily due to the issue of:
Common/joint cost structures in cost accounting.
An outbound-to-customer logistics system is also referred to as:
Physical distribution.
An inbound-to-customer logistics system is also referred to as:
Physical supply.
In the event of a “stockout” one of the things that could happen is:
Extra shipping cost may be incurred.
Seasonal stocks are not influenced by:
EOQ.
The actual total cost is ___ the EOQ derived optimal order quantity:
Not particularly sensitive to.
If your actual order quantity deviates ___ from the EOQ derived optimal order quantity, the actual total cost will be ___:
Moderately; not much greater than optimal.
Which is not a mode of transportation:
3PL.
Railroads fall into a group called:
Natural monopolies.
The “deregulation era” began:
With the railroads in 1976.
The Federal Aviation Administration (FAA) primary responsibilities include:
Air safety, promotion of air commerce, and monitoring/control of airspace.
Customer service can be defined as:
Anything that touches the customer.
Customer relationship management is the art and science of:
Positioning customers to improve the profitability of the organization.
Which of the following is NOT an assumption of the “basic” EOQ model:
Variable and unknown replenishment time.
The Maritime Administration (MARAD) is primarily responsible for:
Promoting and operating the U.S. Merchant Marine.
Freight density (“dimweight”) is used in ratemaking because:
Capacity constraints on vehicles include both weight and volume.
Inventory as an asset on the balance sheet and a ___ on the income statement:
Variable expense.
Dependent demand relates to:
Demand for another inventory item or product.
Security legislation:
Has caused expense issues for carriers.
The Federal Highway Administration (FHWA) is responsible for:
Ensuring the interstate highway system is safe and technologically advanced.
A quantity discount (price break at higher volume) tends to ___ as ___:
Lower carrying cost; incremental quantities decrease.
Terms of sale establish:
When ownership and title of the goods passes from seller to buyer.
The National Transportation Safety Board (NTSB) is primarily responsible for working with other DoT agencies by:
Investigating major accidents and making recommendations for improving safety.
The Staggers Rail Act of 1980:
Eliminated many of the economics regulations on rates and prices for much of the rail industry.
The traditional role of customer service at the interface between marketing and logistics manifests itself through the ___ dimension of the marketing mix:
Place.
The “Tapering Rate Principle” holds that as distance increases, total cost for shipping increases but:
Cost per unit distance travelled decreases.
The “Level of Service” issue in ratemaking is based on:
Speed; premium rates charged for faster delivery guarantees.
The SCOR model provides suggested metrics:
Across multiple dimensions for each of the five Level One processes.
The Department of Transportation is responsible for:
National transportation policy to ensure the safety and efficiency of our national transportation system.
The two primary costs (tradeoffs) analyzed in the EOQ model are:
Ordering/setup (transportation) and Inventory Carrying/Holding (insurance).
Characteristics of the product being shipped that have an effect on rates/prices include:
Density, stowability, ease of handling, and liability/value.
While most transportation industries have been economically deregulated to a significant degree, the ___ sector(s) are still subject to strict rate/tariff oversight and control:
Rail and water.
A DRP system is usually coupled with a _______ system in an attempt to manage the flow and timing of both inbound materials and outbound finished goods.
MRP
The Federal Railroad Administration (FRA) focuses on
enforcement of rail safety issues

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