c. increase supply chain cost. d. decrease product availability. e. none of the above Answer: a
Difficulty: Moderate
25.
Which of the following is not a consequence of being able to place a second order during the season for a seasonal product? a. The expected total quantity ordered during the season with two orders is
less.
b. The average overstock to be disposed of at the end of the sales season is
less.
c. The profits are higher. d. The average inventory level is higher. e. none of the above Answer: d
Difficulty: Moderate
As the total quantity for the season is broken up into multiple smaller orders, the buyer is better able to a. match supply and demand and increase cost. b. match supply and demand and increase profitability. c. match supply and demand and decrease profitability. d. match supply and demand and decrease product availability. e. none of the above Answer: b
Difficulty: Moderate
If quick response allows multiple orders in the season, a. profits decrease and the overstock quantity decreases. b. profits decrease and the overstock quantity increases. c. profits increase and the overstock quantity decreases. d. profits increase and the overstock quantity increases. e. none of the above Answer: c
Difficulty: Moderate
Quick response is clearly advantageous to a. a distributor in the supply chain. b. a retailer in the supply chain. c. a manufacturer in the supply chain. d. every step in the supply chain. e. none of the above Answer: b
Difficulty: Hard
Quick response results in a. the manufacturer making a lower profit in the long term if all else is
unchanged.
b. the manufacturer making a lower profit in the short term if all else is
unchanged.
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c. d.
the retailer making a lower profit in the short term if all else is unchanged. the distributor making a lower profit in the short term if all else is unchanged.
e. none of the above Answer: b
Difficulty: Moderate
30.
There is a cost associated with postponement because the production cost using postponement is typically a. higher than the production cost without it. b. lower than the production cost without it. c. very stable. d. equal to the production cost without it. e. none of the above Answer: a
Difficulty: Easy
Postponement is valuable for a firm that a. sells a large variety of products with demand that is dependent and
comparable in size.
b. sells a large variety of products with demand that is independent and
comparable in size.
c. sells a small variety of products with demand that is dependent and
comparable in size.
d. sells a small variety of products with demand that is independent and
comparable in size.
e. focuses on processes that are internal to the firm. Answer: b
Difficulty: Hard
Postponement is a. not very effective if a large fraction of demand comes from multiple
products.
b. not very effective if a small fraction of demand comes from a single
product.
c. only effective if a large fraction of demand comes from a single product. d. effective even if a large fraction of demand comes from a single product. e. none of the above Answer: b
Difficulty: Hard
When a firm uses production with postponement to satisfy a part of its demand with the rest being satisfied without postponement, it is using a. adjustable postponement. b. flexible postponement. c. managed postponement. d. tailored postponement. e. none of the above Answer: d
Difficulty: Moderate
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Under tailored postponement, a firm produces the amount that is very likely to sell using a. the lower cost production method with postponement and produces the
portion of demand that is uncertain using postponement.
b. the lower cost production method without postponement and produces
the portion of demand that is uncertain using postponement.
c. the higher cost production method with postponement and produces the
portion of demand that is uncertain using postponement.
d. the higher cost production method without postponement and produces
the portion of demand that is uncertain using postponement.
e. All of the above are accurate. Answer: b
Difficulty: Moderate
In tailored sourcing, firms use a combination of two supply sources, a. one focusing on cost but unable to handle uncertainty well, and the other
focusing on flexibility to handle uncertainty, but at a higher cost.
b. one focusing on cost and able to handle uncertainty well, and the other
focusing on flexibility to handle uncertainty, but at a higher cost.
c. one focusing on cost but unable to handle uncertainty well, and the other
focusing on flexibility to handle uncertainty at a lower cost.
d. one focusing on cost and able to handle uncertainty well, and the other
focusing on flexibility to handle uncertainty at a lower cost.
e. None of the above are accurate. Answer: a
Difficulty: Hard
In volume-based tailored sourcing a. the predictable part of a product’s demand is produced at an efficient
facility.
b. the uncertain portion is produced at a flexible facility. c. the predictable part of a product’s demand is produced at a flexible facility. d. all of the above e. a and b only Answer: e
Difficulty: Moderate
In product-based tailored sourcing a. low-volume products with uncertain demand are obtained from a flexible
source.
b. high-volume products with less demand uncertainty are obtained from an
efficient source.
c. high-volume products with less demand uncertainty are obtained from a
flexible source.
d. all of the above e. a and b only Answer: e
Difficulty: Moderate A contract
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a.
specifies the parameters within which a buyer places orders and a supplier fulfills them.
b. may contain specifications regarding quantity, price, time, and quality. c. may require the buyer to specify the precise quantity required, with a very
long lead time.
d. all of the above e. a and c only Answer: d
Difficulty: Moderate
39.
Double marginalization refers to the fact that the total supply chain margin is divided between a. the customer and the retailer. b. the distributor and the retailer. c. the manufacturer and the retailer. d. the manufacturer and the customer. e. none of the above Answer: c
Difficulty: Moderate
Each member of the supply chain makes decisions considering a. only a portion of the total supply chain margin. b. the total supply chain margin. c. other members of the supply chain. d. customers of the supply chain. e. none of the above Answer: a
Difficulty: Moderate
Buy-backs encourage retailers to a. decrease the level of product availability. b. increase the level of product availability. c. decrease the level of profitability. d. increase the level of cost. e. none of the above Answer: b
Difficulty: Hard
The impact of holding cost subsidies on manufacturer and supply chain profits is a. the opposite of buy-back contracts. b. negligible. c. very much like buy-back contracts. d. a decrease the level of profitability. e. none of the above Answer: c
Difficulty: Moderate
When the manufacturer charges the retailer a low wholesale price and shares a fraction of the revenue generated by the retailer, it is referred to as a. double marginalization. b. buy-backs.
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