Exam III Supply Chain Management Fall 2023.pdf

Exam III Supply Chain Management (Counts 15% of Course Grade) • Time Limit 160 Minutes Instructions NOTE: Students are NOT allowed to copy or screen print questions/problems on this exam. You will be allowed an opportunity to review your exam after the final exam period has closed. Due: October 30, 2023 This EXAM may be taken during the exam period and will require up to 160 minutes of uninterrupted time. Exam IV covers the Supply Chain module. "Theory" questions are either Multiple Choice, Matching, or True/False. Questions that require calculations to solve are also multiple choice with five potential answers provided. Formulas for the Newsvendor model, EOQ, ROP, and for 4 error metrics are provided in the exam. There will be no credit for "work" or partially correct answers. Answers were determined using Microsoft Excel. There may be very minor differences between your answer and the correct answer listed in the choice options simply due to differences in rounding. Pick the answer that closest approximates your answer if there is not an exact match. Unless otherwise noted (for an example a problem where the solution is a percentage) round numeric answers to the nearest whole integer. For solutions that are percentages round to the nearest 1/100th of a percent (.00%). The exam does not start until you have concluded the proctoring initialization process. Once the exam is visible, you will have exactly 160 minutes to complete it. This process cannot be "paused" so please remember that once you start, 160 minutes later the exam will automatically close and no further entries will be permitted. Once you begin scrolling through the exam, the exam timer will no longer be visible without scrolling back to the top of the page. For this reason, it is suggested that you keep a clock or timer nearby and keep a close eye on it. Given the length of the exam you are allowed two 5-minute bathroom breaks and are allowed to have food and drinks (on camera while taking the exam). However once the timer begins on the exam it does not stop Maximum Points That Can Be Earned Is 107 Points Good Luck

Proctoring Proctoring Rules : For this exam, you may use any physical calculator and/or Microsoft Excel (or equivalent) No other windows or programs should be open. Additionally, • You may not use books, notes, formula or "cheat" sheets. Supply Chain Management Formulas will be provided for you in the exam • You may have blank scratch paper to write on during the exam. Before answering your first question, please hold up all blank sheets of paper, slowly showing both sides. • You may have earbuds for the microphone function (one of the requirements of proctoring) or for listening to music, but if listening to music, the source device must remain out of reach. If you have any issues during the exam, contact Honorlock directly by sending an email to support@honorlock.com or call 1-844-243-2500. Support is available 24 / 7 / 365. Additionally, within the exam you will see "24/7 Proctoring Support" options to the right, one of which is Live Chat. This quiz is no longer available as the course has been concluded. Attempt History Attempt Time Score Regraded LATEST Attempt 1 101 minutes 102.33 out of 107 102.33 out of 107 Correct answers are no longer available. Score for this quiz: 102.33 out of 107 Submitted Oct 29, 2023 at 1:12pm This attempt took 101 minutes. Question 1 2 / 2 pts Supply Chain Management Questions

A Responsive Supply Chain focuses on all but: deploying excess capacity aggressively reducing lead times high asset utilization deploying significant safety and buffer stocks responding to unpredictable demand Source: Supply Chain Week 1, slide 27 Partial Question 2 1.33 / 2 pts Short-term supply chain decisions consist of (select all that apply): Quality Control Sales & Operation Planning Supplier Evaluation Product Scheduling

Network Configuration Source: Supply Chain Management Week 7 Lecture: Types of Decisions, Slides 18- 21 and corresponding lecture notes Question 3 2 / 2 pts Which is NOT a reason companies keep inventories? To hedge against uncertain supply To economize on order costs For smoothing production schedules To economize on holding costs To hedge against uncertain demand Source: Supply Chain Week 2, slide 27; Question 4 6 / 6 pts Match the characteristics/benefit to either Push or a Pull approach to production scheduling Eliminates WIP accumulating at bottlenecks Pull Keeps materials busy, not operators Pull Every worker maximizes their own output

Push If a problem arises there is no slack in the system Pull Kanban cards Pull More difficult to respond to special orders and order changes Push Source: Supply Chain Week 2, Slides 12 & 13 Question 5 2 / 2 pts What is the key consideration in setting the reorder point? You don’t want on hand inventory to be depleted before the replenishment order arrives. You want to reorder as few times as possible You want the time between orders to be minimal. You want to minimize cost You want to minimize physical storage requirements Source: Supply Chain Week 2, Slide 39 & 40 Question 6 2 / 2 pts

Economic Order Quantity establishes: the maximum quantity of items an organization would want to purchase at one time to satisfy a month's demand the quantity of items an organization should order each time to minimize costs associated with ordering the quantity of items an organization can order in bulk to receive a discount the quantity of items an organization would have to order each time to minimize holding costs the quantity of items an organization would have to order each time to minimize total inventory costs Source: Supply Chain Week 2, Slide 37 Question 7 2 / 2 pts At what quantity does the basic economic order quantity occur? At the time interval that minimizes total cost Where ordering cost equals holding cost Where unit cost is a minimum

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