The primary business advantage of developing an international supply chain is to:
A. reduce transportation costs.
B. decrease inventory costs.
C. limit the number of component suppliers.
D. realize economies of scale in production and distribution.
A manufacturing company has several inexpensive items that are critical to the production process. The supply of these items has been depleted several times. Which of the following actions is most likely to reduce stockouts?
A. Assign personnel to manage the items.
B. Standardize the items.
C. Increase minimum inventory levels for the items.
D. Initiate a vendor-managed inventory (VMI) program for the items.
A company that sells 60 units of product in a given year and has an average quantity on hand of 10 units. There are 360 selling days and 261 production days in the year. The company has on hand how many days of product inventory?
A. 0.16
B. 0.23
C. 43
D. 60
A company has an asset turnover ratio of 1.8, inventory of $3,000, a 20% profit margin, and $5,000 in total assets. What is the total sales volume for the company?
A. $5,400
B. $9,000
C. $15,000
D. $25,000
Which of the following metrics is typically the most appropriate measure of product and service quality?
A. Internal inspection
B. Product performance
C. Customer perception
D. Warranty claims
A retailer that imports furniture from several manufactures in low-wage countries wants to reduce variability in quality. The retailer has proposed merging with one of the manufacturers and giving it sole responsibility for one product family. The proposed merger is an example of:
A. parallel integration.
B. internal integration.
C. horizontal integration.
D. vertical integration.
Which of the following activities is forbidden in a free trade zone (FTZ)?
A. Cross-docking goods
B. Reconfiguring product
C. Re-exporting goods
D. Conducting retail trade
The process of continuous improvement can be defined best as a continuous effort to:
A. concurrently improve performance on several measures through incremental improvements.
B. eliminate root causes of waste through incremental improvements.
C. eliminate root causes of problems through radical changes.
D. reduce direct and indirect costs through incremental changes.
The use of standardized components typically results in:
A. increased planning and control efforts to avoid shortages.
B. fewer inventory items and inventory levels.
C. more items, larger bills of material (BOMS), and increased material requirements planning (MRP) run time.
D. smaller bills of materials, fewer routings, and fewer manufacturing orders.
An organization is striving to improve the transfer of multiple levels of data about products and services to trading partners in the supply chain network. Which of the following solutions is most appropriate?
A. Business analytics
B. Electronic commerce
C. Enterprise resources planning (ERP)
D. Advanced planning and scheduling (APS)
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