Deck 15: Supply Chain Management for Agribusiness

Question 1

The inventory type that uses an actual physical count of stock on hand that is conducted at regular intervals is called -------------------------------inventory.

Answer 1

periodic

Question 2

Highway, rail, and water are examples of the mode of -------------------------------.

Answer 2

transportation

Question 3

Any manual, automated, or mental process used to transform inputs into products and services is called -------------------------------

Answer 3

technology

Question 4

A responsive, accurate, information-based system that links distributors and suppliers together with retail supermarkets is

A) ECR
B) MRP
C) PERT
D) None of the above

Question 5

Current logistics management objective(s) include

A) Better customer service
B) Reduction of risk
C) Globalization of operations
D) All of the above

Question 6

The master production schedule strategy in which a firm has (or uses) previously manufacturing components, and these components are assembled when an order is placed is called

A) Make-to-stock strategy
B) Assemble-to-order strategy
C) Make-to-order strategy
D) None of the above

Question 7

A production operations system that is referred to as a "push" system is

A) JIT
B) MRP
C) Both
D) Neither

Question 8

Warehousing would include storage at

A) Manufacturing plants
B) Warehouses
C) Retail outlets
D) All of the above

Question 9

Category(ies) used for accounting purposes for inventory is (are)

A) Raw material
B) WIP
C) Finished goods
D) All of the above

Question 10

The inventory type that results in the minimum amount of inventory needed to cover the period of time between the warehouse's reordering and its receipt of the additional stock is called

A) Pipeline
B) Buffer
C) Seasonal
D) Lot-size

Question 11

Additional stock that is used to offset potential variations in demand is called _________ stock.

A) Extra
B) Safety
C) Just-in-time
D) None of the above

Question 12

Managing the flow of materials into and out of the firm is called supply chain management.

Question 13

The goal of "quick response" is to reduce the time it takes for a product to go from an idea to prototype.

Question 14

One aspect of efficient consumer response is to introduce new products.

Question 15

Production for inventory in which production occurs before the actual sale is made is called make-to-order strategy.

Question 16

A typical firm spends about 40 to 60 percent of its total income from sales on purchased materials and services.

Question 17

With JIT, suppliers make smaller deliveries on a frequent basis.

Question 18

The series of channels through which parts, products, and finished inventory are stored and moved from suppliers between outlets, and ultimately to consumers are called physical distribution systems.

Question 19

One of the five basic modes of transporting goods is the Internet.