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Supply Chain > Exam 2 > Flashcards

Exam 2 Flashcards

1
Q

What is logistics

A

the process of coordinating and moving material
and other resources from one location to another

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2
Q

International Logistics

A

all functions concerned with the movement of materials and finished goods between countries

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3
Q

Third-party Logistics company (3PL)

A

an outside company used to manage all or part of another company’s logistics

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4
Q

What are the two highway transportation modes

A

Truck and Less than a Truckload (LTL)

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5
Q

Highlights of Truckload

A

Move full truckloads and there is a single and team of drivers

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6
Q

Highlights of Less than Truckload (LTL)

A

Use cross-dock to combine multiple customer shipments

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7
Q

Highlights of Water transportation

A

Ideal for materials with high weight-to-value ratio, especially if delivery speed is not critical.

Typically move full containters

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8
Q

Highlights of Air transportation

A

Ideal for customers with a low weight-to-value ratio, especially if delivery speed is critical.

Move single-box quantities

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9
Q

Highlights of Rail Transportation

A

Alternative to Trucking that can often save 20-30% per shipment

Move full container quantities

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10
Q

What is transportation time for water and how is the unit moved

A

Container 500 miles/day

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11
Q

What is transportation time for rail and how is the unit moved

A

Container and 500 miles/day

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12
Q

What is transportation time for Truckload Solo and Team and how is the unit moved

A

Trailer and 500 solo and 1000 team

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13
Q

What is transportation time for LTL and how is the unit moved

A

Pallet and 400 miles/day

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14
Q

What is transportation time for air and how is the unit moved (Domestic and international)

A

Box and next day or 3 days

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15
Q

How is pricing done for each transportation
-Water
-Rail
-Truckload
-LTL
-Air

A

-$/container
-$/mile
-$/mile
-$/hundredweight (dimensional)
-$/pound (dimensional)

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16
Q

What does dimensional weight

A

there is an up-charge for shipping light products in large boxes (pillows)

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17
Q

What is Direct vs Consolidation Cost Calculations

A

Direct is shipper to consumer

Consolidation is shipper to consolidator (3pl) to consumer

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18
Q

What are landed costs

A

The cost of a product plus all costs driven by logistics activities, such as transportation, warehousing, handling, customs fees, etc

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19
Q

what are the customer arrival charactaristics

A
  • Distribution (constant or exponential)

-Pattern (controllable or uncontrollable)

-Size of arrival (single or batch)

-Degree of Patience (patient or not)

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20
Q

What is balking

A

arrive, view, leave

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21
Q

what is Reneging

A

arrive, wait a while then leave

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22
Q

What is a service package

A

the bundle of goods and services that is provided in some environments and every service has one

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23
Q

What are the five features of service bundles

A

1.) supporting facility
2.) Facilitating goods
3.) information
4.) Explicit services
5.) Implicit services

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24
Q

What is supporting facilities (service package)

A

the physical resources that must be in place before a service can be offered

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25
Q

What is facilitating goods (service package)

A

the material purchased or consumed by the buyer or the items provided to the customer

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26
Q

What is information (service package)

A

operations data or information that is provided by the customer to enable efficient and customized services

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27
Q

What is Implicit services (service package)

A

psychological benefits or other extrinsic features of the service (prestige, privacy, etc.)

28
Q

What is Explicit services (service package)

A

the benefits that are readily observable and which make up the essential features of the service

29
Q

What is dominant issues for services

A

capacity

too much capacity generates excessive costs
 Insufficient capacity leads to lost customers
 Seek the assistance of marketing to influence demand

30
Q

What are poka yokes

A

procedures that block the inevitable mistake from becoming a service defect (“avoid mistakes”)

31
Q

Where are poka yokes common

A

factories

32
Q

what are the applications of poka yokes

A

Warning methods (e.g. steps that lead to mistakes trigger a reminder)
* Physical or visual contact methods (e.g. parts can only fit together in the correct way)
* The Three T’s

33
Q

What are the three T’s

A
  • Task to be done
  • Treatment accorded to the customer
  • Tangible features of the service facility
34
Q

What are the 5 tasks in managing queues

A

1.) Segment the customer
2.) Train servers to be friendly
3.) Inform your customers of what to expect
4.)Try to divert customers’ attention while waiting
5.)Encourage customers to come during slack periods

35
Q

What is a forecast error

A

the difference between the forecast value and what
actually occurred

36
Q

What is bias

A

When a consitent error is made

37
Q

If the MAD is high what does that mean

A

less accurate

38
Q

If the MAPE is larger what does that mean

A

less accurate

39
Q

what numbers should the tracking error stay between to be accurate

A

-4 and 4

40
Q

what is a trend

A

A long-term upward or downward movement in data.

41
Q

Seasonality

A

Fairly regular variations related to factors such as the
calendar or time of day

42
Q

What is the seasonal index

A

The seasonal index is the ratio of the amount sold during each season divided by the average for all seasons

43
Q

Last Period Model

A

Forecasts are equal to the previous period actual

-Easy to use
-no data analysis
-Easy to understand

44
Q

Simple Moving Average

A

The forecast is based on average demand over the most recent periods

45
Q

Weighted Moving Average

A

A weighted moving average allows unequal weighting of prior time periods

46
Q

Linear Regression Forecasting

A

Past data and future projections are assumed to fall around a straight line
* Used both for time series forecasting and for causal
relationship forecasting
* Use Excel to determine the best-fit line

47
Q

Qualitative Forecasting Techniques

A
  • Useful when judgment is required, when products are new, or if the firm has little experience in a new market
  • Generally used to take advantage of expert knowledge
  • Often little or no data is available
48
Q

What are the 4 Qualitative Forecasting Techniques

A

1.) Marketing Research
2.) History Analogy
3.) Panel Consensus
4.) Delphi Method

49
Q

What is Marketing Research (Qualitative Technique)

A
  • Structured questionnaires submitted to potential customers
  • Expensive and time-consuming to perform
50
Q

Historical analogy (Qualitative Technique)

A

Base the forecast on the history of a similar product
Choosing the “similar product” is critical!

51
Q

Panel Consensus (Qualitative Technique)

A

Experts jointly discuss and develop forecast

52
Q

Delphi Method (Qualitative Technique)

A
  • Experts work individually to develop forecasts
  • Forecasts are then shared with the group
  • Experts modify their forecast based on information from this sharing
53
Q

Collaborative Planning, Forecasting, and
Replenishment (CPFR)

A

An Internet tool used to coordinate the efforts of a supply chain
* Demand forecasting
* Production and purchasing
* Inventory replenishment

*integrates all members of a supply chain

54
Q

What are the CPFR steps

A

Step 1: Creation of a front-end partnership agreement

Step 2: Joint business planning

Step 3: Development of demand forecasts

Step 4: Sharing forecasts

Step 5: Inventory replenishment

55
Q

What is capacity

A

the amount of output that a system can achieve over a specific period of time

56
Q

What is best operating level

A

the level of capacity for which the process
was designed

*output at which average unit cost is minimized

57
Q

What is capacity utilization rate

A

a measure of how close the firm is to its best
possible operating level

58
Q

Economies of Scale

A

as a plant gets larger and volume increases, the
average cost per unit drops

59
Q

Diseconomies of Scale

A

at some point, the plant becomes too large and
average cost per unit begins to increase

60
Q

Focused Factory

A

a facility designed around a limited set of production
objectives

61
Q

Plant within a plant (PWP)

A

an area within a larger facility dedicated to a
specific production objective

62
Q

The theory of constraints

A

There is one process step (the bottleneck) that
determines the capacity for the entire chain

63
Q

5 Steps to theory of constraints

A

1.) Identify the constraint
2.) Exploit the constraint (keep busy)
3.) Subordinate the constraint (make supporting it overall priority)
4.) Elevate the constraint (try and increase its capacity)
5.) Find new constraint

64
Q

What is a decision tree

A

schematic model of the sequence of steps in a
problem – including the conditions and consequences of each step

65
Q

What are the decision tree components

A

Decision Nodes - squares
Chance Events - circles

Supply Chain (3 decks)

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