Explain Marshall Fisher’s concept of "Functional" vs. "Innovative" products. If a company sells luxury smartwatches (Innovative), what supply chain strategy should they use, and why?
Exam Question: If the average inventory is $185,000 and the holding cost factor is 25%, what is the total cost? (Answer: ).
Explain the trade-offs between a centralized warehousing network and a decentralized warehousing network regarding inventory holding costs and customer service levels.
Answer: Managing the flow of returned goods from the customer back to the seller or manufacturer. supply chain management midterm exam questions
Ensure time horizons match when calculating EOQ or Safety Stock (e.g., convert weekly demand to annual demand if the holding cost is annualized).
A) Warehousing space rent B) Material handling equipment depreciation C) Order processing fees D) Insurance and taxes on inventory
This report is structured to help students identify key themes, understand the types of questions asked, and prepare for both theoretical and calculation-based assessments. Explain Marshall Fisher’s concept of "Functional" vs
The EOQ model determines the optimal order size that minimizes total inventory holding costs and ordering costs.
Error = Actual - Forecast = ( 900 - 1060 = -160 ) (Over-forecast by 160).
A company manufactures highly customized, high-end smartphones with short life cycles. Their current supply chain relies on low-cost, slow ocean freight to minimize expenses. Exam Question: If the average inventory is $185,000
A typical SCM midterm focuses on the integration of sourcing, making, and delivery, requiring students to solve quantitative problems like EOQ and TCO while explaining qualitative concepts like the Bullwhip Effect and Strategic Fit [2, 18, 20].
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a) Calculate the optimal service level and order quantity for a single day. b) At what weekly volume does the salvage membership break even? c) Now introduce a ‘bullwhip effect’ where the child’s demand forecast is based on the previous day’s sales, plus a random error term of ±20%. Simulate three periods mentally and describe the oscillation pattern. Explain how this tiny stand mirrors the 2008 baby formula shortage.”
: Calculate total output value divided by total input cost [16]. Risk Priority Number (RPN) : In an FMEA analysis, calculate the RPN by multiplying Occurrence (O) × Severity (S) × Detection (D) Summary of SCM Pillars