MGT 5100 Distribution Management

$10.00

What is the Mean Absolute Deviation (MAD)?

 

SKU: Repo939002

1. Which of the following is one of the ‘Product Surrounds’ elements of a product?

a. The ease of ordering

b. The ease of use.

c. The style and quality

d. The technical contents.

 

2. Which of the following is (are) measure(s) to evaluate the performance of order fulfilment?

a. number of lines delivered from a single order.

b. the value of orders completed.

c. The shipment cost…

d. Only 1 and 2.

 

3. Traditional organisation is essentially:

a. Sales oriented.

b. Padded with too many layers of management.

c. Functional and inwardly focused.

d. All of the above.

 

4. The operational role for logistics manager can vary according to:

a. The customer profile.

b. The channel type..

c. The nature of business.

d. All of the above.

 

5. Traditionally, information has been viewed as flowing in the opposite direction of products, that is, from the  market/customer back to the wholesalers, manufacturers, and vendors.

a. This is still true and has not changed.

b. Computerization has greatly increased the flow of information from the source.

c. The “Big Box” stores have developed their own sources.

d. None of these answers

 

6. One of the four supply chain flows in Figure 1-8 that has received increased attention from supply chain market/customer back to the wholesalers, manufacturers, and vendors.

a. Product flow

b. Information flow

c. Cash flow

d. Demand flow

 

7. Which of the following is (are) not part of the Supply Chain network?

a. Plants

b. distribution centers

c. Terminals

d. All of the above

 

8. Cost/Value refers to

a. getting the best value for the money spent.

b. U.S. firms competing in the global arena.

c. the importance of cost and value at the very end of the supply chain.

d. product variety.

 

9. Performance measurement is important because

a. it allows firms to rate competitors.

b. without it, managers would not know how the global economy is doing.

c. companies presently operating in the European Economic Community need to understand how its competitors are doing.

d. lower-level metrics in an organisation must connect directly to the high-level performance measures to achieve goals.

 

10. Logistics is the process of anticipating customer needs and wants; acquiring the capital, materials, people, technologies, and information necessary to meet those needs and wants; optimising the goods- or service- producing network to fulfil customer requests; and utilising the network to fulfil customer requests in a timely manner. This is a

a. definition from an inventory perspective.

b. general definition.

c. definition offered by the Society of Logistics Engineers.

d. a definition provided by the Council of Logistics Management.

 

11. Materials handling is concerned with

a. inventory levels.

b. breaking bulk.

c. scheduling trade-offs.

d. short-distance movement.

 

12. It can be argued that ____ is the second language of logistics and supply chain management.

a. Quality

b. Manufacturing

c. Finance

d. Sales

 

13. What activity is described as the movement of goods into a warehouse, the placement of goods in a warehouse, and the movement of goods from storage to order picking areas and eventually to dock areas for transportation out of the warehouse?

a. materials handling

b. physical distribution

c. business logistics

d. order fulfillment

 

14. Which of the following is NOT one of the five drivers of sustainable supply chain management practice?

a. Adaptability

b. Synchronisation

c. Velocity

d. Execution

 

15. ____ is/are a major barrier to the effective use of information technology.

a. Cost

b. People

c. Effective applications

d. Management support

 

16. ERP systems

a. are taking the place of SCIS systems.

b. have information elements needed by SCIS applications.

c. require RFID to be fully functional.

d. focus primarily on manufacturing issues

 

17. Managers have several options for software development and implementation. They include

a. internal development.

b. third party logistics firms.

c. external software vendors.

d. all of these answers

 

18. The textbook provides an example of how SanDisk improved forecast accuracy by 25%, and achieved higher inventory turns and a lower cost structure as a result of implementing

a. a new supply chain execution tool

b. business intelligence tools

c. an advanced planning solution

d. new ERP systems

 

19. On-demand supply chain software that is not installed on a company computer is gaining in popularity. An  issue to be addressed with this purchase option is

a. functionality may not be as robust as traditional software.

b. data control is an issue.

c. total cost of ownership could exceed purchase cost over the long run.

d. All of these

 

20. The term functional silos refer to:

a. product storage for physical supply.

b. the non-communication between customers and vendors.

c. a technique to secure corporate marketing strategies.

d. lack of coordination between departments.

 

21. The weighted moving average method assigns

a. a value in each period being averaged.

b. a weight greater than 1.

c. information based on a simple average.

d. a weight to each previous period.

 

22. Exponential smoothing

a. is one of the most commonly used techniques.

b. uses primarily weighted averages to compensate for errors.

c. is used to determine random variations.

d. is used to reduce channel fluctuations.

 

23. 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

a. quick response (QR)

b. vendor-managed inventory (VMI)

c. efficient consumer response (ECR)

d. all of these answers

 

24. Financial statements are used to measure the performance of Supply Chains. If you are given the Income Statement of a company, which of the formulas would you use to compute the company’s Profit Margin.

a. Gross margin ÷ sales.

b. Net income ÷ gross margin.

c. Net income ÷ sales.

d. Earnings before interest and taxes ÷ sales.

 

25. Financial statements are used to measure the performance of Supply Chains. If you are given the Income Statement of a company, which of the formulas would you use to compute the company’s sales.

a. Profit margin ÷ net income.

b. Net income ÷ profit margin.

c. Net income ÷ sales.

d. Earnings before interest and taxes ÷ profit margin

 

26. Financial statements are used to measure the performance of Supply Chains. If you are given the Balance Sheet of a company, which of the formulas would you use to compute the company’s Return on Assets.

a. Total assets ÷ net income.

b. Net income ÷ total assets

c. Gross income ÷ total assets

d. Total assets ÷ net gross income.

 

Use the following table to answer questions:

Period Actual Demand Forecast Demand Error Absolute Value
1 800 1100 -300 300
2 1200 1000 200 200
3 1400 1500 -100 100

 

27. What is the Mean Absolute Deviation (MAD)?

a. 200

b. 225

c. -66.67

d. 1200

 

The demand for each year for a product is shown in the table below.

year Demand Forecast
1 45
2 50
3 52
4 56
5 58
6 ?

 

28. Using the 3-month moving average approach, compute the forecast for the year 6 (rounded to whole numbers) is:

a. 147

b. 49.

c. 166.

d. 55.

 

The demand for each year for a product is shown in the table below.

year Demand Forecast
1 45
2 50
3 52
4 56
5 58
6 ?

 

29. Using the 3 – month Weighted Moving Average approach (the weights are 0.5, 0.3, and 0.2), the forecast for the year 6 (rounded to whole numbers) is:

a. 49

b. 51.

c. 56

d. None of the above

 

The demand for each year for a product is shown in the table below.

year Demand Forecast
1 45
2 50
3 52
4 56
5 58
6 ?

 

30. The forecast for year 5 (F5) is estimated to be 50 and Smoothing constant a = 0.9. Using the Exponential Forecasting approach, the forecast for the sixth year F6 (rounded to whole numbers) is:

a. 49

b. 55

c. 56

d. 57

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