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35 Cards in this Set
- Front
- Back
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A business condition that forces companies to hold inventory |
An inventory driver |
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A single period inventory system is used when... |
Demand occurs in only a single point in time |
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One variable is demand which... |
States that the inventory item of interest has a constant demand per period |
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Inventory that is held in anticipation of customer demand |
Anticipation inventory |
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Extra inventory that a company holds to protect itself against uncertainties in either demand or replenishment times |
Safety stock |
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In the continuous review system, H is... |
The cost of hold a single unit of inventory for a year |
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Hedge inventory is |
A form of inventory buildup to buffer against some event that may not happen |
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A periodic review system is... |
An inventory system that is used to manage independent demand inventory |
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Dependent demand inventory is... |
Inventory items whose demand levels are tied directly to a company's planned production of another item |
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Service level... |
Indicates the amount of demand to be met under conditions of demand and supply uncertainty |
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... is used when demand occurs in only a single point in time |
A single period inventory system |
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Independent demand inventory is... |
Inventory items whose demand levels are beyond a company's complete control |
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One variable is ... Which states that the inventory item of interest has a constant demand per period |
Demand |
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In the continuous review system ... is the cost of placing an order regardless of the quantity |
S |
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Holding safety stock in single location instead of multiple locations. |
Inventory pooling |
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In the continuous review system, ... is the number of periods that must pass before replenishment arrives |
Lead time |
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A complete supply chain dedicated to the reverse flow of products and materials for the purpose of returns repair remanufacture and or recycling |
Reverse logistics systems |
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When a product is produced year round and sent to a storage facility to be stored alongside other items until demand occurs |
Assortment warehousing |
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Pulls together shipments from a number of sources in the same geographic area and combines them into larger and hence more economical shipping loads |
Consolidation warehousing |
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Attempts to identify the best location for a single warehouse store or plant given multiple demand points that differ in location and importance |
Weighted center of gravity method |
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Inventory pooling is when a warehouse operator fails to complete shipments and is left with inventory. True or false? |
False |
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Assortment warehousing is a form of warehousing that combines classic operations with light manufacturing and packaging duties in order to ensure short customer lead times. True or false? |
False |
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The mode of transportation that is highly cost effective for bulky items but had relatively poor delivery reliability and speed and the lowest number of convenient location is... |
Water |
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A company interested in consistently achieving a high level of on time delivery would be best served by the highway or air modalities of transportation. True or false? |
True |
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Are transportation solutions that seek to exploit the strengths of multiple transportation modes through physical information or monetary flows that are as seem less as possible |
Multimodal solutions |
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That part of supply chain management that plans implements and controls the efficient effective forward and reverse flow and storage of goods services or related information between the point of consumption in order to meet customer requirements |
Logistics management |
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2.05 and 2.91 |
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A warehousing operation that receives goods from a single source or manufacturer and sends out smaller shipments to a retail location is... |
Break bulk warehousing |
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You plan to win customers by being recognized as the manufacturer that can deliver exactly what customers want. Your logistics system must be developed to support design changes and unique customer needs. The best transportation mode and warehousing system is |
Highway and postponement |
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A ... ensures that an organization's logistics choices are consistent with its overall business strategy and support the performance dimensions that target customers most value. |
Logistics strategy |
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A service form that takes care of all of the logistics requirements for other companies is a |
Third party logistics provider |
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... Include the equipment and procedures needed to move goods within a facility between a facility and transportation mode and between different transportation modes. |
Material handling systems |
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In the United States the value of goods transported via highway is greater than the value of goods transported by all other transportation modes. True or false? |
True |
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The fireworks that were produced year round in South Africa were sent to warehouses around the United States during the months of may and June in anticipation of large demand for the holiday. The best warehousing system is |
Spot stock warehousing |
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Most expensive per pound transportation mode |
Air |
