供应链管理习题(12)

Supply Chain Management, 5e (Chopra/Meindl)Chapter 12 Managing Uncertainty in a Supply Chain: Safety Inventory12.1 True/False Questions1) Safety inventory is inventory carried for the purpose of satisfying demand that exceeds the amount forecasted for a given period.Answer: TRUEDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainLearning Outcome: Compare common approaches to supply chain design2) Safety inventory is carried because demand forecasts are accurate and a product shortage may result if the forecast demand exceeds the actual demand.Answer: FALSEDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design3) Raising the level of safety inventory increases product availability and thus the margin captured from customer purchases.Answer: TRUEDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design4) Raising the level of safety inventory increases inventory holding costs.Answer: TRUEDiff: 1Topic: 12.1 The Role of Safety Inventory in a Supply ChainLearning Outcome: Compare common approaches to supply chain design5) Carrying excessive inventory can help counter demand volatility when new products come on the market.Answer: FALSEDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainLearning Outcome: Compare common approaches to supply chain design6) The appropriate level of safety inventory is determined by the uncertainty of both demand and supply and the desired level of cycle inventory.Answer: FALSEDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design7) As the uncertainty of supply or demand grows, the required level of safety inventories increases.Answer: TRUEDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design8) As the desired level of product availability increases, the required level of safety inventory decreases.Answer: FALSEDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design9) Lead time is the gap between when an order is placed and when it is received.Answer: TRUEDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design10) The coefficient of variation measures the size of the relative certainty of cycle inventory. Answer: FALSEDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design11) Product availability reflects a firm's ability to fill a customer order out of available inventory. Answer: TRUEDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design12) Order fill rate is the fraction of product demand that is satisfied from product in inventory. Answer: FALSEDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design13) Product fill rate is the fraction of product demand that is satisfied from product in inventory. Answer: TRUEDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design14) The distinction between product fill rate and order fill rate is significant in a single product situation.Answer: FALSEDiff: 3Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design15) Tracking order fill rates is important when customers place a high value on the entire order being filled simultaneously.Answer: TRUEDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design16) With periodic review, inventory status is checked at regular intervals and an order is placedto raise the inventory level to a specified threshold.Answer: TRUEDiff: 3Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design17) The expected shortage per replenishment cycle(ESC) is the average units of demand that are satisfied from inventory in stock per replenishment cycle.Answer: FALSEDiff: 3Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design18) Shortage occurs in a replenishment cycle only if the demand during the lead time exceeds the ROP.Answer: TRUEDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design19) The fill rate increases and the cycle service level decreases as the safety inventory is increased.Answer: FALSEDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design20) For the same safety inventory, an increase in lot size increases the fill rate but not the cycle service level.Answer: TRUEDiff: 3Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design21) The required safety inventory grows rapidly with a decrease in the desired product availability.Answer: FALSEDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design22) The required safety inventory increases with an increase in the lead time and the standard deviation of periodic demand.Answer: TRUEDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design23) A goal of any supply chain manager is to reduce the level of safety inventory required regardless of the affect product availability.Answer: FALSEDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design24) In most supply chains, the key to reducing the underlying forecast uncertainty is to link all forecasts throughout the supply chain to customer demand data.Answer: TRUEDiff: 2Topic: 12.3 Impact of Supply Uncertainty on Safety InventoryAACSB: Reflective Thinking SkillsLearning Outcome: Compare common approaches to supply chain design25) A reduction in supply can help dramatically reduce safety inventory required without hurting product availability.Answer: FALSEDiff: 2Topic: 12.3 Impact of Supply Uncertainty on Safety InventoryLearning Outcome: Compare common approaches to supply chain design26) Aggregation reduces the standard deviation of demand only if demand across the regions being aggregated is not perfectly positively correlated.Answer: TRUEDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryLearning Outcome: Compare common approaches to supply chain design27) In case demand in different geographical regions is about the same size and independent, aggregation increases safety inventory by the square root of the number of areas aggregated. Answer: FALSEDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryLearning Outcome: Compare common approaches to supply chain design28) If aggregation reduces the required safety inventory for a product by a small amount, it may be best to carry the product in multiple decentralized locations to reduce response time and transportation cost.Answer: TRUEDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryLearning Outcome: Compare common approaches to supply chain design29) The lower the coefficient of variation of an item, the greater the reduction in safety inventories as a result of centralization.Answer: FALSEDiff: 3Topic: 12.4 Impact of Aggregation on Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design30) Manufacturer-driven substitution increases overall profitability for the manufacturer by allowing some aggregation of demand, which reduces the inventory requirements for the same level of availability.Answer: TRUEDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design31) Postponement allows the supply chain to delay product differentiation, which results in disaggregating most of the inventories in the supply chain.Answer: FALSEDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryLearning Outcome: Compare common approaches to supply chain design32) Periodic review policies require more safety inventory than continuous review policies forthe same level of product availability.Answer: TRUEDiff: 1Topic: 12.5 Impact of Replenishment Policies on Safety InventoryLearning Outcome: Compare common approaches to supply chain design33) When using a continuous review policy, a manager has to account for the uncertainty of demand during the lead time and the review interval.Answer: FALSEDiff: 1Topic: 12.5 Impact of Replenishment Policies on Safety InventoryLearning Outcome: Compare common approaches to supply chain design34) Cycle inventory is inventory carried to satisfy demand that exceeds the amount forecasted fora given period.Answer: FALSEDiff: 1Topic: 12.1 The Role of Safety Inventory in a Supply ChainLearning Outcome: Compare common approaches to supply chain design35) A key to the success of any supply chain is to figure out ways to decrease the level of safety inventory carried without hurting the level of product availability.Answer: TRUEDiff: 1Topic: 12.1 The Role of Safety Inventory in a Supply ChainAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design36) Given the product variety and high demand uncertainty in most high-tech supply chains, a significant fraction of the inventory carried is safety inventory.Answer: TRUEDiff: 1Topic: 12.1 The Role of Safety Inventory in a Supply ChainLearning Outcome: Compare common approaches to supply chain design12.2 Multiple Choice Questions1) Inventory carried for the purpose of satisfying demand that exceeds the amount forecasted fora given period isA) cycle inventory.B) demand inventory.C) safety inventory.D) security inventory.Answer: CDiff: 1Topic: 12.1 The Role of Safety Inventory in a Supply ChainLearning Outcome: Compare common approaches to supply chain design2) Safety inventory is carried becauseA) demand forecasts are accurate.B) demand forecasts are uncertain.C) adequate supplies are available.D) excess product was manufactured.Answer: BDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainLearning Outcome: Compare common approaches to supply chain design3) The trade-off that a supply chain manager must consider when planning safety inventory isA) increasing product availability versus increasing inventory holding costs.B) decreasing product availability versus decreasing inventory holding costs.C) increasing product availability versus raising the level of safety inventory.D) decreasing product availability versus decreasing the level of safety inventory.Answer: ADiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design4) The issue of product availability and the level of safety inventory is particularly significant in industries whereA) product life cycles are short and demand is stable.B) product life cycles are short and demand is very volatile.C) product life cycles are long and demand is stable.D) product life cycles are long and demand is very volatile.Answer: BDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design5) A key to success at which company has been its ability to provide a high level of product availability to customers while carrying very low levels of safety inventory in its supply chain?A) CompaqB) Hewlett-PackardC) DellD) Packard-BellAnswer: CDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainAACSB: Reflective Thinking SkillsLearning Outcome: Compare common approaches to supply chain design6) What key question(s) need(s) to be considered when planning safety inventory for any supply chain?A) What is the appropriate lead time to establish?B) What is the appropriate level of safety inventory to carry?C) What actions can be taken to improve product availability while reducing safety inventory?D) B and C onlyAnswer: DDiff: 2Topic: 12.1 The Role of Safety Inventory in a Supply ChainAACSB: Reflective Thinking SkillsLearning Outcome: Compare common approaches to supply chain design7) The appropriate level of safety inventory is determined byA) the uncertainty of both demand and supply.B) the desired level of product availability.C) the processes in a supply chain are divided into 2 categories depending on all of the aboveD) A and B onlyAnswer: DDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design8) As the uncertainty of supply or demand grows, the required level of safety inventoriesA) decreases.B) increases.C) remains stable.D) both A and BAnswer: BDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design9) Lead time is the gap betweenA) when an order is placed and when it is received.B) when an order is received and when it is put away.C) when an order is received and when it is used.D) when an order is acknowledged and when it is received.Answer: ADiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design10) The coefficient of variation measuresA) the accuracy of the demand forecast.B) the size of the uncertainty relative to demand.C) the relevance of cycle inventory to demand.D) the relative certainty of the forecast.Answer: BDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design11) Which of the following is not a measure of product availability?A) Customer fill rateB) Product fill rateC) Order fill rateD) Cycle service level(CSL)Answer: ADiff: 2Topic: 12.2 Determining Appropriate Level of Safety Inventory AACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design12) The fraction of orders that are filled from available inventory is theA) customer fill rate.B) product fill rate.C) order fill rate.D) cycle service level(CSL).Answer: CDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design13) The fraction of product demand that is satisfied from product in inventory is theA) customer fill rate.B) product fill rate.C) order fill rate.D) cycle service level(CSL).Answer: BDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design14) The fraction of replenishment cycles that end with all the customer demand being met is theA) customer fill rate.B) product fill rate.C) order fill rate.D) cycle service level(CSL).Answer: DDiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design15) If a customer order arrives when product is not availableA) a sale results.B) the retailer allocates product to the customer.C) a stockout results.D) the order is filled from safety inventory.Answer: CDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design16) The distinction between product fill rate and order fill rate isA) not significant in a single product situation.B) significant in a single product situation.C) not significant when a firm is selling multiple products.D) significant when a firm is selling multiple products.Answer: ADiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Reflective Thinking SkillsLearning Outcome: Compare common approaches to supply chain design17) A replenishment policyA) consists of decisions regarding when to reorder and how much to reorder.B) determines the cycle and safety inventories along with the fr and the CSL.C) may take several forms.D) All of the above are true.Answer: DDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design18) A company that tracks inventory and places an order for a lot size Q when the inventory declines to the reorder point (ROP) is usingA) continuous review.B) daily review.C) occasional review.D) periodic review.Answer: ADiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design19) A company that checks inventory status at regular periodic intervals and places an order to raise the inventory level to a specified threshold is usingA) continuous review.B) daily review.C) occasional review.D) periodic review.Answer: DDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design20) Which of the following is correct?A) Average inventory = cycle inventory + safety inventoryB) Average inventory = cycle inventory - safety inventorysafety inventoryC) Average inventory = cycle inventory ×D) Average inventory = cycle inventory / safety inventoryAnswer: ADiff: 1Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design21) The expected shortage per replenishment cycle(ESC) isA) the units of demand that are not satisfied from inventory in stock in a given replenishment cycle.B) the units of demand that are satisfied from inventory in stock in a given replenishment cycle.C) the average units of demand that are not satisfied from inventory in stock per replenishment cycle.D) the average units of demand that are satisfied from inventory in stock per replenishment cycle.Answer: CDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design22) Given a lot size of Q (which is also the average demand in a replenishment cycle)A) the fraction of demand lost is thus E SC + Q.B) the fraction of demand lost is thus E SC - Q.C) the fraction of demand lost is thus E SC/Q.D) the fraction of demand lost is thus E SC ×　Q.Answer: CDiff: 3Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design23) A shortage occurs in a replenishment cycleA) only if the demand during the lead time exceeds the ROP.B) only if the demand during the lead time is less than the ROP.C) only if the demand during the lead time exceeds the average demand.D) only if the demand during the lead time is less than the average demand.Answer: ADiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design24) As the safety inventory is increasedA) fill rate increases and cycle service level decreases.B) fill rate decreases and cycle service level increases.C) both fill rate and cycle service level increase.D) both fill rate and cycle service level decrease.Answer: CDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design25) For the same safety inventory, an increase in lot sizeA) decreases the fill rate but not the cycle service level.B) increases the fill rate but not the cycle service level.C) decreases both the fill rate and the cycle service level.D) increases both the fill rate and the cycle service level.Answer: CDiff: 3Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design26) The required safety inventoryA) grows rapidly with a decrease in the desired product availability.B) grows rapidly with an increase in the desired product availability.C) decreases with an increase in the desired product availability.D) remains stable with an increase in the desired product availability.Answer: BDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design27) The required safety inventoryA) increases with an increase in the lead time and the standard deviation of periodic demand.B) decreases with an increase in the lead time and the standard deviation of periodic demand.C) remains stable with an increase in the lead time and the standard deviation of periodic demand.D) increases with a decrease in the lead time and the standard deviation of periodic demand. Answer: DDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design28) A goal of any supply chain manager is toA) increase the level of safety inventory required in a way that does not adversely affect product availability.B) increase the level of safety inventory required regardless of the effect on product availability.C) reduce the level of safety inventory required regardless of the effect on product availability.D) reduce the level of safety inventory required in a way that does not adversely affect product availability.Answer: DDiff: 2Topic: 12.2 Determining Appropriate Level of Safety InventoryLearning Outcome: Compare common approaches to supply chain design29) Which of the following is not an approach to reduce the level of safety inventory required ina way that does not adversely affect product availability?A) Reduce the supplier lead time.B) Reduce the underlying uncertainty of demand.C) Reduce the cost of material coming from suppliers.D) All of the above are approaches.Answer: CDiff: 3Topic: 12.2 Determining Appropriate Level of Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design30) Often, safety inventory calculations in practiceA) do not include any measure of supply uncertainty, resulting in levels that may be higher than required.B) do not include any measure of supply uncertainty, resulting in levels that may be lower than required.C) include measures of supply uncertainty, resulting in levels that may be higher than required.D) include any measures of supply uncertainty, resulting in levels that may be lower than required.Answer: BDiff: 3Topic: 12.3 Impact of Supply Uncertainty on Safety InventoryLearning Outcome: Compare common approaches to supply chain design31) Aggregation reduces the standard deviation of demandA) only if demand across the regions being aggregated is perfectly positively correlated.B) only if demand across the regions being aggregated is not perfectly positively correlated.C) even if demand across the regions being aggregated is not perfectly positively correlated.D) whenever demand across the regions being aggregated is not perfectly positively correlated. Answer: BDiff: 3Topic: 12.4 Impact of Aggregation on Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design32) Which of the following is not a major disadvantage of aggregating all inventory in one location?A) Increase in forecast accuracy of customer demand.B) Increase in response time to customer order.C) Increase in transportation cost to customer.D) All of the above are disadvantages.Answer: ADiff: 1Topic: 12.4 Impact of Aggregation on Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design33) Which of the following is not a method by which a supply chain can extract the benefits of aggregation without having to physically centralize all inventories in one location?A) Information centralizationB) SpecializationC) Product substitutionD) Component differentiationAnswer: DDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design34) Which approach to aggregation requires an information system that allows access to current inventory records from each location?A) Information centralizationB) SpecializationC) Product substitutionD) Component commonalityAnswer: ADiff: 1Topic: 12.4 Impact of Aggregation on Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design35) Which approach to aggregation would stock the fast-moving items at decentralized locations close to the customer and slow-moving items at a centralized location?A) Information centralizationB) SpecializationC) Product substitutionD) Component commonalityAnswer: BDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design36) The use of one product to satisfy demand for a different product isA) information centralization.B) specialization.C) product substitution.D) component commonality.Answer: CDiff: 1Topic: 12.4 Impact of Aggregation on Safety InventoryLearning Outcome: Compare common approaches to supply chain design37) Which use of common components in a variety of products has been a very effective supply chain strategy to exploit aggregation and reduce component inventories?A) Information centralizationB) SpecializationC) Product substitutionD) Component commonalityAnswer: ADiff: 1Topic: 12.4 Impact of Aggregation on Safety InventoryLearning Outcome: Compare common approaches to supply chain design38) The ability of a supply chain to delay product differentiation or customization until closer to the time the product is sold isA) information centralization.B) specialization.C) product substitution.D) postponement.Answer: DDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryLearning Outcome: Compare common approaches to supply chain design39) Which approach to aggregation has the goal of moving product differentiation as close to the pull phase of the supply chain as possible?A) Information centralizationB) SpecializationC) Product substitutionD) PostponementAnswer: DDiff: 2Topic: 12.4 Impact of Aggregation on Safety InventoryAACSB: Analytic SkillsLearning Outcome: Compare common approaches to supply chain design40) Periodic review policies for inventory replenishment require safety inventory to cover demand duringA) lead time only.B) the review interval only.C) both lead time and the review interval.D) neither lead time or the review interval.Answer: CDiff: 2Topic: 12.5 Impact of Replenishment Policies on Safety InventoryLearning Outcome: Compare common approaches to supply chain design。